VN Saves Billions Of US Dollars With Improved Customs Clearance | Business
In order to increase the index of cross-border business transactions from 10 to 15 positions in 2021, the Ministry of Finance has formed an interdisciplinary working group, made up of members of the Vietnam Chamber of Commerce and Industry (VCCI), the government office, Ministry of Planning and Investment, Ministry of Transport, Ministry of Science and Technology, Vietnam Fatherland Front Committee, Vietnam Automobile Manufacturers Association (VAMA) and Association of Logistics Companies of Vietnam (VLA).
This working group is responsible for studying and implementing practical solutions to reduce the time and cost of importing and exporting goods in order to provide more convenience to businesses and improve the classification of the index of cross-border commercial transactions.
The results of the 2020 survey conducted by this working group reveal that the total average time and cost to complete cross-border trade procedures for exports in 2020 was 38.4 hours and $ 338 (a decrease from 57.38 hours). and $ 81.72 versus 2019), respectively.
The total average time and cost to complete cross-border trade procedures for imports in 2020 was 54.8 hours and $ 313.17 (a decrease of 48.88 hours and $ 256.41 from 2019), Consequently.
One of the most obvious reasons for this saving in time and costs is the digitization of specialized inspection documents sent through the national one-stop-shop system, the application of electronic certificates of origin (C / O) and the clear regulations on the submission of electronic documents. in customs procedures.
â94% of importing companies and 98% of exporting companies agreed that the use of electronic documents saves time and costs in customs procedures in the preparation, printing and delivery of documents. been significantly reduced. As a result, labor is sped up and money is saved, âVietnamese customs said.
The introduction of the Vietnamese Sea Port Customs Automated Management System (VASSCM) to reduce the time required for the procedures for delivering and receiving goods at ports is also a key factor in saving time and costs for imports and exports. Statistics show that the total number of import and export declaration forms in Vietnam last year was 6.75 million and 6.98 million, respectively.
In short, thanks to the reduction in the time of customs procedures, in 2020, import and export companies in Vietnam saved a total of 730.4 million hours, an indirect cost of 981 million dollars and a direct cost of $ 2,300 million compared to 2019.