Vietnam subsidizes textile and apparel exports in VND per dollar

According to Vietnam’s “Economic Times” report, the Prime Minister of the Vietnamese government recently decided to provide subsidies for the export of textile, clothing and footwear products in order to stabilize the employment of employees in the textile, clothing and footwear industry, with a subsidy of VND 40 for every US dollar exported. At the same time, it was submitted to the Ministry of Finance to study reducing the value-added tax on imported cotton from 10% to 5%. It also requested the central bank to provide a preferential loan of US$15 million to Vietnam Textile Group to import reserve cotton.