Vietnam will propose sustainable development measures for the textile industry to deal with bottlenecks
According to a report by Vietnam’s “Vietnam Economic Times” on May 5, the textile industry is Vietnam’s third largest export commodity, but it is currently facing competition from other textile exporting countries’ protective tax measures and domestic obstacles, and must break through bottlenecks.
At present, various textile exporting countries believe that Vietnam has benefited the most from bilateral and multilateral FTAs. Therefore, India, Pakistan, and Bangladesh have implemented tax subsidies on corporate income tax, fibers and chemicals. However, there are many problems with the taxation of Vietnam’s textile industry. Reasonableness. Truong Van Kim of the Vietnam Textile Association said that no tax is required when importing raw materials, but value-added tax is still required when using raw materials to process products for export. The Ministry of Finance’s feedback is that it believes that it cannot supervise which raw materials are used to produce domestic products and which ones are used. Produce export products; for the remaining raw materials and waste materials, although the enterprise sells them domestically at almost free prices, the customs calculates taxes at the high price declared for import. Even waste products processed with foreign materials are destroyed without paying taxes, while those processed with domestic materials are destroyed. Scrap is subject to tax. Shen Deyue, deputy general manager of Vietnam Textile 10 Corporation, agreed that it is unreasonable to tax the remaining raw materials and waste materials at the high price at the time of import declaration. He also said that when large orders are received, Textile 10 Corporation hands over some of them to partners. It is produced by a partner company. In this case, the part that is processed at the Textile 10 Corporation and should not be taxed will need to be taxed if it is moved to the partner company for processing. Although it is said that the tax will be paid temporarily and the tax will be refunded after export, the procedures are complicated and the company will be occupied. liquidity and it is difficult to provide this part of the information separately.
Regarding domestic obstacles in Vietnam’s textile industry, reports say that cloth making and dyeing are the bottlenecks of Vietnam’s textile industry. These two links require a large amount of investment. Currently, many foreign businessmen want to invest in these two areas, but the Vietnamese government does not welcome them. Not allowed. China has textile raw material gathering places such as Hangzhou and Suzhou, where global sewing companies and clothing companies go to purchase, and Vietnam should also create such a supply and demand platform under national control. When delegations go to various countries to participate in trade promotion seminars and exhibitions, they are passively waiting for customers. However, Vietnamese companies have not yet taken the initiative to go to companies in various countries to see what others are doing. Vietnamese business agencies in various countries should also help find interested Vietnamese companies. cooporating company.
Vice Minister Chen Guoqing of the Ministry of Industry and Trade said that he will propose measures for the sustainable development of the textile industry to the government. The government and provinces should have unified and complete policies for the textile and dyeing industries to promote export growth. When this reaches a certain level, it will stimulate the development of the textile industry. Propose a direction to strictly deal with environmental issues, but the textile industry cannot be rejected for this reason. In addition, it is necessary to build industrial zones and industrial clusters in the textile industry to equally reduce wastewater treatment costs for enterprises. (Title: Vietnam will propose sustainable development measures for the textile industry to deal with bottlenecks)
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