The Republic of Korea's Chang Shin Vietnam, which manufactures Nike shoes for export in Dong Nai province's Thanh Phu industrial park, was granted preferential customs treatment.
The Republic of Korea’s Chang Shin Vietnam, which manufactures Nike shoes for export in Dong Nai province's Thanh Phu industrial park, was granted preferential customs treatment.
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| Workers at Chang Shin Company |
Director of Dong Nai Customs Department Le Van Danh said the company will be eligible for the policy benefits for three years from July 20, 2015 as stipulated in regulations of the Ministry of Finance’s circular 72/2015.
The company is eligible for an extension after the three years if it satisfies certain regulations during the three years, he added.
According to the ministry, enterprises can claim preferential customs treatment if they satisfy certain conditions, such as a turnover of at least 100 million USD a year for import-export companies, a turnover of at least 40 million USD for exporters of made-in-Vietnam goods, and a turnover of at least 30 million USD for exporters of Vietnamese farm produce and aquatic products.
Chang Shin Vietnam currently employs more than 23,400 workers, manufactures 93,000 pairs of shoes a day with total export turnover of over 420 million USD. and has an annual sales growth of 35 percent.
The firm is one among of nine RoK enterprises in Vietnam receiving preferential customs treatment.
(Source:VNA)
