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A Step by Step Guide to Import and Export Procedures in Vietnam
Jul 13, 2021
Once among the smallest economies in Southeast Asia, Vietnam has now emerged as one of the world’s fastest-growing markets. Currently, the country is the EU’s 16th largest trade partner and the second-largest trade partner within ASEAN. Vietnam is also China’s sixth-largest trading partner and in the first half of 2020, was the second-largest exporter to the US. With foreign investors showing significant interest in Vietnam, it is important for them to clearly understand the country’s import and export procedures.
Vietnam Cancels Submission of CFS for Notification of Imported Cosmetics from the CPTPP Member States
Feb 04, 2020
For the cosmetic sector, the Vietnam Ministry of Health released the circular 32/2019/TT-BYT to implement the CPTPP. According to the circular, from February 1, 2020, the Certificate of Free Sale (CFS) is no longer required for notification of imported cosmetics from CPTPP member states...
Cosmetics Registration in Vietnam
Nov 16, 2018
According to data from the National Trade Center (ITC) and the World Bank (WB), Vietnam’s imports of cosmetic products have risen to US$1.1 billion in 2016, double that of 2011. The value is forecasted to reach US$2.2 billion by 2020. What is more, Vietnam has signed several trade agreements which will reduce tariffs on imports down to between 0-5% which will help spur growth in the sector. The most imported cosmetic products are perfumes (55%), make-up (21%), and other products such as hair products and essential oils (2%-8%).
Vietnam Specifies Import Duty Refund Requirements
Jun 11, 2018
On May 17 and May 28, 2018, the General Department of Vietnam Customs released two official letters regarding import duty refunding. The first official letter specifies that in case a company imports raw materials, supplies for production of goods for export but it sells products to other enterprises for further production and export, it fails to meet the conditions for duty exemption...
[Market Analysis]Bright Prospects for International Cosmetic Enterprise in Vietnam
Jun 16, 2017
As an important emerging economy Vietnam is now being recognized as a destination offering great potential for investment. For the cosmetics industry one of the most enticing aspects of Vietnam's market is the significant growth in teenage and young adult demographics. Although Vietnam's younger generation...
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