The Ministry of Finance in Vietnam has announced a draft circular proposing to extend fee exemptions for the aviation and maritime sectors until the end of 2026. This initiative aims to help these critical industries manage the economic impact of volatile global fuel prices and sustain their contribution to trade and supply chains.
The proposed exemptions include fees related to aircraft registration, sale and purchase appraisals, and licensing of aviation personnel, while excluding service charges like security screening and passenger handling. In the maritime sector, the exemption would cover fees for safety services, anchorage, and port access. Officials estimate the exemptions would reduce state revenues by approximately $142 million, with $8.7 million from aviation and $133 million from maritime sources.
Objective and Industry Impact
This policy measure is designed to reduce operational costs, help contain inflation, and stabilize market prices. Additionally, extending tax reductions on fuel is intended to further support businesses and consumers affected by current market volatility. The Vietnamese government emphasizes that stabilizing costs in these sectors is essential for maintaining the smooth flow of international trade and preventing broader economic disruptions.
"Supporting the aviation and maritime sectors during this period of volatility is vital for the stability of Vietnam's economy," said a government official.
By implementing these measures, Vietnam aims to bolster its logistics capacity and ensure the resilience of vital trade routes, thereby fostering economic growth and safeguarding market stability amid ongoing global uncertainties.
