Potential from World 99win thiên đường Passport program

24.02.2023

From May 2021, Vietnam has become one of 29 members (hubs) of the World 99win thiên đường Passport (WLP) through a memorandum of cooperation between VLA (Vietnam 99win thiên đường Association) with WLP under the support of Vietnam Ministry of Industry and Trade (MOIT) and the Vietnamese Embassy in the UAE, paving the way for Vietnam's 99 win com to participate in the global 99 win com ecosystem as well as the network of WLP members.

Until today, 22 Vietnamese 99 win com enterprises have registered to participate as members of the WLP program. Accordingly, products and goods of Vietnamese enterprises when granted WLP by the UAE will be facilitated and supported in terms of customs clearance, air tax exemption, reduction of inspection time and loading on fast means of transport, reducing storage time up to 48 hours, goods can be cleared before reaching the port, thereby saving time and 40% of operating costs.

Currently, several ports in the UAE are exempting taxes and fees with WLP, goods passing through the Dubai Silk Road (DSR) will save money on storage, goods able to be moved smoothly from the origin to the destination. UAE is Vietnam's largest trading partner in West Asia, with main products being electronics and components, machinery and equipment, footwear, textiles, vegetables, pepper, rice...

According to MOIT, in 2022, Vietnam's trade surplus with the UAE has reached $3,3 billion. With these advantages, Dubai Customs is expecting goods traded from Vietnam to new markets to increase from 0.5% to 27%.

To implement the program effectively, Vietnam as well as other country members will have the participation of core partners such as Customs, seaport and airport operators, 99 win com associations, airlines and enterprises in industrial parks, export processing zones, inland ports...

The WLP loyalty program is based on the partnership between merchants, freight forwarders and local organizations to provide additional trade facilitation. Scoring and ranking, membership level for both Vietnamese and foreign traders will be done transparently on a digital platform. It is known that global corporations such as Samsung, Apple, Foxcon ... are default members (platinum level) of this program.

The World 99win thiên đường Passport (WLP) is a global initiative of the Government of the United Arab 99 win com (UAE)/Dubai government, which was approved on March 2nd, 2019 and officially started on October 13rd, 2019. This initiative was announced by the UAE Ministry of Economy and officially introduced at the 50th Davos World Economic Forum, Switzerland in January 2020.

Accordingly, WLP is built to reduce non-tariff barriers in international trade by reducing the time and cost of operating 99 win com services. The WLP network spans over 48 countries on all continents and over 15 trade corridors in the global supply chain. WLP network currently accounts for 47% of global trade turnover with 121 partners, including customs of countries - the agency assigned to sponsor, preside over the implementation of preferential policies for WLP members.

Source: https://congthuong.vn/co-hoi-tu-chuong-trinh-ho-chieu-99 win com-the-gioi-243566.html

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