Hanoi (VNS/VNA) - The General Department of Customs will focus on cracking down origin frauds and illegal transshipment as violations are becoming more rampant and complex as Vietnam integrates more deeply into the global economy. Nguyen Tien Loc, Director of the General Department of Customs’ Post-Clearance Inspection Department, made the statement at a conference about the fight against origin fraud on July 6 in Hanoi. Loc said origin fraud and illegal transshipment were being committed to avoid the US’s tariffs on Chinese products and enjoy preferential tariffs on products from Vietnam. With the escalating US-China trade war, tariffs on products originating in China and exported to the US rose by about 7.5 percent to 285 percent, a huge difference with tariffs on products originating in Vietnam, Loc said. Loc said the customs watchdog found a number of cases of origin faking and illegal transshipment, adding that origin faking … [Read more...] about Customs watchdog to focus on origin frauds, illegal transshipment
Currencies of china
Earlier this year, the Ministry of Planning and Investment (MPI) built plans to boost Vietnam’s FDI appeal in 2020 to mitigate the impacts of the pandemic. According to statistics by the ministry’s Foreign Investment Agency, in the first half of the year, the total registered FDI reached $15.67 billion, down 15.1 per cent on-year. However, added capital in existing projects hit $3.7 billion, up 26.8 per cent. … [Read more...] about New large-scale ventures promise more to follow
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The agriculture sector expects to significantly increase exports of many key products until 2025 thanks to the EVFTA, such as rice (up 65 per cent), sugar (8 per cent), pork (4 per cent), forest products (3 per cent), and cattle and poultry meat (4 per cent). … [Read more...] about Viet Nam to increase rice exports to EU under EVFTA
Many footwear companies will have to suspend their operations from now until August due to a lack of new orders. “Millions of workers in the clothing and footwear sectors will lose their jobs. This is caused not only due to a market disruption, but also the automation trend,” Loc said. … [Read more...] about Mekong Delta enterprises see new orders plunge by 80% due to Covid-19