Tax: up to 10%
Duties: up to 25%
Restricted items: Second-hand Goods, Wireless, and Encrypted Goods
Non-working days: Saturday, Sunday, and Public Holidays
Lead times: 4-5 weeks
Best Carrier option: Freight Forwarder
Prominent Languages: Vietnamese
The Complexities of Importing into Vietnam
Vietnam has a young IT sector, only connecting to the internet in 1997. Since then, the country has seen massive growth and made good headway in modernization, adopting international communications infrastructure and Educational Technology standards. Most of the investment into modernization has come from foreign private investors. Driven by low cost and high-quality labor, the country has solidified itself as an important regional market, locally and internationally.
When importing into Vietnam, accurately calculating cost poses a considerable challenge. This is due to the frequency with which customs conduct re-valuations of goods. Adjustments in taxes and duties can substantially impact project costs. Therefore, declaring goods at the appropriate market value is essential. Furthermore, there are several restrictions on wireless and encrypted goods. The documentation needed to clear these goods is extensive and can take up to three weeks in some cases.
How TecEx Can Help You Import into Vietnam
TecEx has been working with Vietnamese customs for many years. As such, we can provide the most reliable cost estimates in the industry. Our team of experts will assist with finding appropriate market values for your goods, drastically cutting down the financial risk. What is more, we conduct strict pre-compliance checks and handle all documentation on your behalf. By doing so, we can ensure your goods are cleared first time in the quickest possible time.
Click here to learn more about what to expect when importing into Asia.
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