Finance Ministry to inspect foreign shipping firms, adjust fee collection

11:14 | 08/04/2015 Economy

The Finance Ministry will inspect 20 foreign shipping companies located in big ports, including HCM City, Hai Phong and Hanoi this month, Deputy Minister of Finance Vu Thi Mai said.

Finance Ministry to inspect foreign shipping firms, adjust fee collection

Mai said at a press conference held in Hanoi on April 7 that the inspections were a result of the Deputy Prime Minister Hoang Trung Hai's instructions to revise the collection of the maritime transport fees at foreign shipping firms in Vietnam. The ministry would co-operate with the Ministries of Transport and Industry and Trade, as well as other relevant agencies to monitor the collection.

She said the ministry had promulgated a decision for reviewing the transport fee charged to foreign firms and whether it was suitable or not. This would facilitate export businesses.

Tran Huy Truong, deputy head of the ministry's inspector, said they would contact foreign shipping firms in the inspection list.

Data from the Vietnam Maritime Department showed that of the more than 40 foreign shipping firms operating in Vietnam, 88 per cent were involved in transport activities for the country's exports. In addition, the firms transported all goods in a container imported or exported from the European Union and North America.

Truong said several Vietnamese businesses had to pay different kinds of fees as they very much depended on foreign shipping firms.

In addition, the local businesses had not been active as they had not directly signed any transport contracts.

Poverty alleviation

The ministry also said that the State budget would allocate VND49,000 to each poor household following an electricity tariff increase on March 16, totalling VND200 billion this year.

It said Vietnam collected VND226 trillion ($10.7 billion) for the State budget in the first quarter of 2015, up 1.3 per cent from a year ago.

The budget collected from crude oil was pegged at about VND4.6 trillion ($217.7 million) in March and VND16.63 trillion ($787 million) during the first three months of this year.

Collection from import and export activities reached VND35.4 trillion ($1.67 billion) during the quarter.

The country's total State budget spending during the first three months of the year was estimated to be VND263 trillion, meeting 23 per cent of the set target and posting a 12 per cent year-on-year rise.

Overspending in the State budget was expected to be VND37 trillion or 15 per cent of the entire year's estimate.

Source VNS