Moc bai economic zone

Another duty-free store opens in Tay Ninh

Last Update: 09:49 a.m. (GMT+7), Tuesday, May 19, 2009

Tuoi Tre, VNA

The third and largest duty-free market in the Moc Bai border economic zone that links Vietnam and Cambodia opened on Sunday.

The VND100 billion (US$5.6 million) Winmart superstore in the zone in southern Tay Ninh Province will stock 20,000 items, including food, cosmetics, clothes and household appliances.

About 30 percent of the goods in the 7,200-square-meter market will be imported.

General Director of Winmart owner Thien Linh Co., Huynh Cong Thien, told Vietnam News Agency the prices of imported items would be 10 to 15 percent lower than market prices because the goods were exempt from import tax, special consumption tax and value added tax (VAT).

The price of made-in-Vietnam goods would also be cheaper because they will be exempt from VAT.

Winmart is expected to generate daily sales of VND500 million ($28,113), with about 60 percent of customers expected to be Cambodian, Thien said.

More than 60 enterprises are licensed to sell duty-free products at the Moc Bai border economic zone, which receives 6,000 to 10,000 visitors and shoppers every day.

http://vietnewsonline.vn/News/Business/6102/Another-duty-free-store-opens-in-Tay-Ninh.htm

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Vietnam suspends border duty-free ban until 2012

Bill Lumley

9-Jul-2009

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Government announces border duty-free shops may continue operating until 2012

The Vietnamese government has granted a reprieve to the country's border duty-free shops to sell  tax-free goods to Vietnamese citizens until 2012.

Head of the Moc Bai border checkpoint along the Cambodian border in Tay Ninh province Phan Minh Thanh told the Vietnamese Communist Party newspaper SGGP that business had declined at most duty-free shops since the government announced that Vietnamese shoppers would not enjoy the tax waiver from July 1.

In March DFNI reported that duty-free retailers in Vietnam were awaiting clarification of the new duty-free regulations set to be introduced from July 1. Operators in the country claimed the new law threatened to outlaw arrivals duty-free.

According to the authorities, several border stores that have closed since March will now reopen once a formal dispatch from the government has been received.

The proposed regulations stated that only travellers leaving the country, passengers in transit and passengers on international flights of Vietnamese carriers and joint ventures are entitled to buy duty-free goods.

The best-selling products in Vietnamese arrivals stores are electronic goods.

http://www.dfnionline.com/article/Vietnam-suspends-border-duty-free-ban-until-2012-1858861.html

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ADB to finance $104m to Laos, Vietnam and Cambodia Sep 17, 2009

VNBusinessNews.com - Asian Development Bank (ADB) has announced that the bank would offer loans worth $104 million for investment projects in Vietnam, Laos and Cambodia.

The 2nd economic corridor forum of Greater Mekong Sub region officially started on Sep 16 in Phnom Penh with the participation of China, Laos, Myanmar, Thailand and Vietnam.

The main content of GMS economic forum is to carry out the corridor city development projects (CTDP) in the region funded by ADB.

Arjun Goswami, ADB's representative said that the basis of implementing the CTDP projects was to turn out the key transportation corridors in the region into economic ones.

In order to realise this target, ADB will offer funds for GMS countries to take full socio-economic advantages by promoting commercial trading and traffic network development activities.

As planned, ADB will raise capital sources of $104 million to focus on investment projects in Vietnam, Laos and Cambodia.

Vietnam will become the south economic corridor (SEC) and East West Economic Corridor (EWEC) with Lao Bao Town and Dong Ha Town in Quang Tri province and Moc Bai Town in Tay Ninh province.

Cambodia will focus on the south economic corridor, including Poipet Border gate, Battambang City, Svay Rieng City and Bavet Border gate, in Svay Rieng city.

Laos will concentrate on developing the East-West economic corridor with Kaysone Phomvihane economic area, Phine town in Savanakhet province and the Savanakhet provincial economic area.
ADB set priorities in developing the agricultural and industrial sectors, tourism, constructing infrastructure works such as roads, bridges, and sea port for the cities and towns mentioned above.

The total loans will be disbursed by ADB for all three countries, including Vietnam ($52 million); Laos ($26 million) and Cambodia ($26 million).


http://www.vnbusinessnews.com/2009/09/adb-to-finance-104m-to-laos-vietnam-and.html