A circular on new regulations for customs risk management will come into effect on January 1 next year to helping businesses comply with regulations and clear customs more easily.
Footwear exports this year are unlikely to hit the target of 24 billion USD because of the fallout of the COVID-19 pandemic, according to the Ministry of Industry and Trade.
Tariffs cut to zero under the ASEAN Trade in Goods Agreement (ATIGA) from January 1 this year and the COVID-19 pandemic have made for a tough year for the sugar industry, heard an online seminar held by Nhan Dan (People) e-newspaper on September 16.
After a local silk importer was recently found to be disguising Chinese products as Vietnamese to sell them in India, experts have warned of the risks of losing out on exports and preferential tariffs due to intellectual property (IP) violations.
Vietnam’s foreign exchange reserve has hit a new record high of 92 billion USD, a significant expansion from 84 billion USD which Governor of the State Bank of Vietnam Le Minh Hung revealed in April.
The Ministry of Industry and Trade has urged firms to control the quality of pepper exported to India and develop solutions to cope with policies affecting the export of pepper from Vietnam.
Wood and wooden product exports in the southern province of Binh Duong hit more than 1.7 billion USD in the first half of 2020, up 0.6 percent year-on-year and accounting for 14.5 percent of the local total export value of 11.9 billion USD.
Flexible rules of origin in the European Union-Vietnam Free Trade Agreement (EVFTA) will help local plastic enterprises take full advantage of preferential tariffs when exporting to the EU market.
Vietnam exported over 166,800 tonnes of peppercorn worth 356 million USD in the first half of 2020, down 5.7 percent in volume and 21.1 percent in value compared to the same period last year, according to the General Department of Customs.
Joining free trade agreements (FTAs), Vietnam has many opportunities to attract foreign direct investment (FDI) flows, but it also needs to take solutions to prevent frauds and abuse of State policies to illegally enjoy export incentives.
Tax policies are being specified while customs procedures simplified to improve the legal framework to facilitate the European Union – Vietnam Free Trade Agreement (EVFTA) enforcement.
Cambodia earned 197 million USD from exports of 876,612 locally-assembled bicycles in the first five months this year, up 26 percent and 19 percent, respectively, compared to the same period of last year, according to the General Department of Customs and Excises.
Vietnamese enterprises need to improve product quality, build their brands, and ensure product traceability to increase the exports of agricultural and aquatic products, experts said at a recent seminar held in HCM City.
The Vietnam National Textile and Garment Group (Vinatex), stock code VGT, predicts its consolidated profit before tax this year to fall by half to 382 billion VND (16.5 million USD) year on year due to the negative impacts of the COVID-19 pandemic.
Higher rice supply in the domestic market has made the export price of Vietnam’s broken rice drop to 450 USD per tonne on June 19, the lowest level in the past two months.
Exports of wood and wood products in the first four months of the year were worth nearly 3.2 billion USD, a year-on-year increase of 6 percent, according to the General Department of Customs.
Vietnam reported a trade deficit of nearly 1 billion USD in the first half of May as exports reached only 8.22 billion USD – the lowest level since the beginning of this year (excluding the first half of January when the Tet holiday fell on), the General Department of Customs announced has announced.
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