Wednesday, September 23, 2020 5:06:34 PM - Markets open
VN-INDEX 912.50 +6.31/+0.70%
HNX-INDEX 132.64 +0.45/+0.34%
UPCOM-INDEX 60.96 +0.30/+0.50%
Solutions to help businesses avoid accusations of origin fraud
Vietnam News - 9/28/2019 8:28:04 AM
 (0 ratings. You must sign in to rate.)
A circular on "Made in Vietnam" products was expected to help businesses avoid accusations of fraud, said Deputy Minister of Industry and Trade Trần Quốc Khánh at a conference held in Hà Nội on Wednesday.
The event was held to hear opinions from enterprises and associations on the draft circular, which describes how to identify Vietnamese goods and products.
Many products and goods whose accessories are imported from foreign countries and assembled and processed in Việt Nam are sometimes labelled "Made in Vietnam", which has sparked public concern.
Khánh said the Ministry of Industry and Trade (MoIT) in August had completed a draft circular on how to identify Vietnamese-made goods. 
MoIT has published the draft publicly and will organise two seminars in Hà Nội and HCM City to collect comments from the public, businesses and relevant ministries before finalising the report and sending it to the Prime Minister. It will then be reviewed again before it is officially issued.
“This circular will not incur costs for enterprises, but help enterprises to more accurately label their products to avoid the risk of alleged fraud of origin, and gradually eliminate the situation of imported goods being disguised as Vietnamese goods," Khánh noted.
Sharing the urgency of the Circular, Trần Thanh Hải, deputy director of MoIT's Import-Export Department, said the quality of many Vietnamese products and goods had risen significantly, creating consumer confidence.
However, this situation has also led to more goods being "disguised" as Vietnamese goods, causing bad competition and pressure on domestic producers.
"This circular not only concerns the labelling of 'made in Vietnam' goods, but more importantly, defines what a Vietnamese product is," Hải said.
He said the circular's most important principle was to lessen the need for administrative procedures for businesses.
The draft will be the basis for creating fair competition for businesses that are diligent in their research, creativity and branding.
Regarding labelling, Trần Thị Thu Hương, director of the Centre for Commercial Document Certification at the Vietnam Chamber of Commerce and Industry (VCCI), pointed out there was already a decree issued by the Government on labels that clearly defined the scope to regulate the matter.
Therefore, it was necessary to consider whether or not this draft circular should be issued or to focus on expanding the existing circular for goods in Việt Nam, Hương suggested. — VNS
Read original article here
Newer News
11:34 EVFTA brings new impetus for Vietnam’s fishery exports
21/09 Vietnam’s GDP to grow 2-3 percent this year: former GSO director
14/09 Construction steel sales projected to recover in year-end months
11/09 VN energy sector a magnet for foreign investors
05/09 HCM City maintains export growth in eight months
27/08 Import-export expected to drive credit growth
24/08 Việt Nam shrimp exports to South Korea to edge up: VASEP
19/08 Seafood exports increase after EVFTA comes into effect
18/08 Vietnam opposes Indonesia’s conclusions on anti-dumping investigation on steel sheets
14/08 Export set to hit 340 billion USD in 2025
Older News
26/09 Việt Nam reduces petroleum imports
25/09 Rooftop solar’s growing popularity in HCM City
22/09 Deputy PM attends expo, business summit in China
21/09 Shrimp export falls 8.1 percent in eight months
20/09 Crude import tax zeroed in November
17/09 Despite US exports rise, VN is urged to tighten origin rules to avoid investigations
15/09 VN, Cuba seek to expand investment, trade ties
10/09 Footwear, handbag exports reel in nearly 14.5 bln USD in eight months
06/09 Việt Nam faces difficulties in rice exports
04/09 Campaign collects businesses’ recommendations for economic policies
Newsletter Signup
Top Stories
Reference exchange rate down 5 VND on September 15
Construction steel sales projected to recover in year-end months
HVN: Vietnam Airlines increases flights from/to Da Nang
Local ETFs draw foreign attention
Plastics industry shrugs off pandemic, interests stock investors
Market Update
Last updated at 3:10:10 PM
VN-INDEX 912.50 +6.31/+0.70%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.