A Ministry of Finance representative said that the Japanese Department of Customs has agreed to provide a non-refundable aid package of US$34 million to install an electronic customs monitoring system in Vietnam.
The system will include a data base centre with both software and hardware for customs clearance procedures.
Once installed, Vietnam will spend VND105 billion ($5 million) per year on maintenance of the system.
The equipment will boost the country’s imports and exports with other countries, especially Japan, and create more opportunities for foreign enterprises and investors.
The construction work to install the system is expected to begin in March, 2012 and be complete within the next 36 months.