This is the 6th year the Ministry has reduced fees to support individuals and businesses. This policy is expected to reduce state revenue by about 700 billion VND.

The reduced fees include business registration fees, licensing fees for the establishment and operation of banks and non-bank credit institutions; fees for appraising restricted goods and services businesses; fire safety design appraisal and approval fees; construction investment project appraisal fees; certificates of origin (C/O) fees; and airport concession fees.

Other fees are also reduced by 50%, such as fees for issuing work permits for overseas employment; fees for appraising and issuing international and domestic travel business licenses; fees for issuing, renewing, and re-issuing identity cards and passports; and fees in the healthcare and securities sectors.

Previously, the Ministry of Finance stated that with the reduction rate and application period as above, this policy is expected to provide support to individuals and businesses of over 3 trillion VND.

According to authorities, this fee reduction will help businesses and individuals stabilize production and business activities, contributing to economic recovery and growth.

Phuong Dung