Three Vietnamese steel firms will pay zero tax after answering the anti-dumping questionnaire of the US Commerce Department, but other exporters of steel pipes will pay the maximum tax of 113 percent.
Production line at Thai Nguyen Iron and Steel Corporation in the northern province of Thai Nguyen (Photo: VNA)
Hanoi (VNA) - Three Vietnamese steel firms will pay 🌃zero tax after answering the anti-dumping questionnai♚re of the US Commerce Department (DOC), but other Vietnamese exporters of steel pipes will pay the maximum tax of 113 percent.
The Vietnam Competition Authority (VCA) said in early June that the US had made its preliminary decision on anti-dumping investigations of carbon welded steel pipe imports into the US market.
Hoa Phat Steel Pipe Ltd. participated as a voluntary respondent in the investigation and was levied an individual tax rate of 0.38 percent.
Two other respondents, Seah Steel Vina Corporation and Vietnam Hai Phong Hongyuan Machinery Manufactory Ltd., were levied a tax rate of zero percent and 1.19 percent, respectively.
Meanwhile, the anti-dumping duty levied nationwide on other exporters from Vietnam who failed to respond to the DOC was 113.18 percent, the highest among the countries affected by the decision.
On November 18, 2015, the DOC issued a notice initiating anti-dumping investigations into carbon steel pipe products of Vietnam and four other countries.
On June 1, the DOC announced preliminary determinations in the anti-dumping (AD) duty investigations of imports of circular welded carbon quality steel pipe (CWP) from Oman (7.86 percent), Pakistan (11.8 percent), United Arab Emirates (6.1-7.86 percent), and Vietnam(113.18 percent).
A final DOC ruling is expected within 135 days.
Under US tax law provisions, any rate lower than 2 percent is implemented as a rate of zero percent.
Vietnam’s 2014 carbon welded steel pipe exports to the United State were valued at some 60.6 million USD, the highest among the four countries probed, according to the VCA.-VNA
Local producers can now submit requests to the Vietnam Competition Authority for a review of anti-dumping duties on several imported cold-rolled stainless steel products.
The Vietnam Competition Authority said that the Minister of Industry and Trade had ordered an investigation against imported steel ingots and steel bars for the application of safeguards.
The domestic steel market has seen a price surge and hoarding before temporary safeguard measures recently imposed on two types of steel imports into the Southeast Asian country, experts said.
Vietnam decided to increase anti-dumping duties for cold rolled stainless steel products from China, Indonesia, Malaysia and Taiwan, the Vietnam Competition Authority said.
Iron and steel product manufacturing posted stable growth over the first five months of 2016 with an output of more than 5.8 million tonnes, rising by nearly 1 million tonnes or 19.3 percent yearly.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.
The Prime Minister emphasised the significance of maintaining macroeconomic stability, controlling inflation, promoting growth, and improving the harmony between monetary and fiscal policies.
Petrovietnam will step up the development of new products and the expansion of international markets to reduce reliance on the domestic market. It also plans to optimise capital use, manage cash flow and costs, streamline operations, and enhance workforce quality to achieve its 2025 goals.
Vietnam has so far attracted 43,346 valid FDI projects with a total registered capital of 517.14 billion USD. The accumulated disbursed capital is estimated at nearly 331.46 billion USD, accounting for 64.6% of the total registered capital.
More than a product showcase, Vietfood & Beverage – Propack Vietnam 2025 is designed as a comprehensive ecosystem where businesses, experts, and consumers can share knowledge, explore technologies, and connect for collaboration.
Both sides expressed their hope that the outcomes of the discussion will continue to improve the efficiency of customs clearance activities at the customs clearance points and dedicated transport routes of the Huu Nghi – Youyi Guan international border gate pair.
The maximum retail price of E5 RON92 petrol has increased by 207 VND to 19,608 VND (0.75 USD) per litre while that of RON95-III rose by 234 VND to 20,074 VND per litre.
Production line at Thai Nguyen Iron and Steel Corporation in the northern province of Thai Nguyen (Photo: VNA)
