The Vietnamese Ministry of Finance is considering reductions and exemption of 8,870 tax lines for goods imported from Japan during the 2009-2012 period in line with the Vietnam-Japan economic partnership agreement (VJEPA) passed by Prime Minister Nguyen Tan Dung April 16.
Goods that are expected to get tax exemption include machineries, railway construction and health equipment, fiber, fireproof porcelain, scrap glass, and gemstone (excluding diamond), said the ministry.
Construction materials serving for railway, steel alloy, scraps, copper, manual tools, drilling and cutting tools, vending machines, air conditioners, nuclear reaction piles, airplane engines will also receive preferential tariffs of zero until March 2012.
Under VJEPA, Hanoi and Tokyo agree to exempt tax for 92 per cent of bilateral trade, state media said.
Japan has pledged to help Vietnam develop supporting industries, infrastructure networks, improve human resource by helping train 1,000 doctorates by 2020, 200-300 nurses a year via ODA loans.
Last year, two-way trade between Vietnam and Japan hit US$15.5 billion.
By end-2008, Japan invested US$17 billion into 1,000 projects in Vietnam, ranking third among countries and territories.
Japan provided US$13 billion in ODA loans for Vietnam between 1992 and 2007, making up 30 per cent of total ODA by international donors for Vietnam. (vnexpress.net, Labor)
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