Logo of Phnom Penh Post newspaper Phnom Penh Post - Vietnam businesses enjoy zero tariffs

Vietnam businesses enjoy zero tariffs

Vietnam businesses enjoy zero tariffs

A zero import tax rate applied to 40 types of agricultural products from Cambodia

has opened up a new source of materials for Vietnamese farm-produce processors, especially

those near the southwestern border with Cambodia, according to Vietnam's Trade Ministry.

Pham Thi Sum, chairwoman of the Board of Directors of the Bien Hoa Sugar Joint-Stock

Company, said the preferential tax rate enables the company to buy more materials

from Cambodia for its Tay Ninh Crude Sugar Plant to ease its shortage.

The Cambodian provinces of Kampong Cham, Svay Rieng and Prey Veng have large areas

of unused land suitable for sugar cane growing, Sum said.

In recent years, several companies in Tay Ninh have invested in sugar cane and cassava

growing in Cambodia to supply materials for their plants.

Rubber processing enterprises also described the import tax cut as a great boost

to their production.

At present, many Vietnamese farmers in localities bordering Cambodia have also invested

in rice farming in Cambodia, and expect to import a large volume of rice from these

farms for processing for export.

The zero import tax rate is applicable to 40 agricultural product categories from

Cambodia, including those made from cassava, sweet potato, cashew nuts, pepper, rice,

corn, soybeans, peanut, castor beans, sesame, seaweed, sugar cane, and raw rubber.

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