The Ministry of Finance (MoF) has decided to reduce 36 types of fees and charges by 10-50 per cent from July 1 to support businesses and individuals.

Under Circular No. 44/2023/TT-BTC issued recently by the MoF, the cuts will be applied until December 31.

Reductions include fees for licensing the establishment and operation of a bank; fees for licensing the establishment and operation of non-banking credit institutions; fees for granting certificates of construction capacity to organizations; fees for the appraisal of construction investment projects; and fees for the assessment and issuance of international travel service business licenses and domestic travel service business licenses.

Fees and charges in the field of securities will also be cut, including fees for the issuance, renewal, and re-issuance of securities practice certificates for individuals offering securities consulting at securities companies, securities investment fund management companies, and investment companies stock.

Other fees to be reduced include airport entry and exit fees for foreign flights to Vietnamese airports, and customs fees for foreign flights to Vietnamese airports.

The application of the Circular is estimated to reduce State budget collections by VND700 billion ($42 million), according to the MoF.