Trade

Increasing fake goods trade According to the Vietnam E-commerce and Digital Economy Agency, Vietnam’s e-commerce has grown 25-30 percent a year. In the digital economy, the revenue through e-commerce channels was five times higher than that of average GDP growth. At the same time, these online platforms have opened up opportunities for expanded trade in fake goods, said Tran Huu Linh, director general of the Vietnam Directorate of Market Surveillance. In 2018, the Hanoi Department of Market Surveillance handled violations valued at nearly a half billion Vietnamese dong. Authorities handled more than 1.2 million violations of fake goods appearing online valued at VND92 trillion since 2015. Ministry of Science and Technology Deputy Chief Inspector Nguyen Nhu Quynh said up to 60 percent of cases examined were for violations of intellectual property rights on e-commerce platforms in 2018. Updating legal sanctions To protect consumers, greater coordination is required between units of … [Read more...] about Vietnam aims to crack down on online trade in fake goods

Vietnam has many varieties of avocados producing fruits all year round According to the United States Department of Agriculture, the US spent US$2.35 billion on importing 1.04 million tonnes of avocados in 2018. The fruit is consumed by approximately 51% of American households and each household spends an average US$24.5 per year to buy avocados. The Vietnam trade office in San Francisco said that avocados are often consumed through large supermarkets in the US, with large volume, requiring very high standards, particularly regarding food safety requirements. The trade office noted that Vietnam has many varieties of avocados producing fruits all year round. However, the value of Vietnamese avocados remains low due to limitations in the application of science and technology in farming, the small scale of production and the lack of geographical indications and strong brands. The office suggested that Vietnam should seek and select the best varieties of avocados with high productivity … [Read more...] about Vietnam strives to bring avocados to US market

The number of convenience stores in Vietnam is increasing rapidly A Deloitte’s report shows that the number of convenience stores in Vietnam has quadrupled since 2012, accounting for the biggest proportion of newly founded shopping facilities in 2018. The convenience store market has attracted Vietnam’s leading retailers including VinGroup and Saigon Co.op, and such leading foreign firms as Circle K, B’s Mart, Mini Stop, 7-Eleven, and GS25, among others. Domestic enterprises are dominating the market, carving a 70 percent niche. As of late January 2019, according to a Deloitte’s report, there were 1,700 Vinmart+ stores throughout Vietnam, while foreign-owned convenience stores (excluding the Shop&Go sold to VinGroup) totaled more than 600 facilities. Convenience stores in Vietnam have reached a compound annual growth rate (CAGR) of 35.7 percent from 2017-2019 and an estimated CAGR rate of 37.4 percent in 2017-2021, much higher than in other Southeast … [Read more...] about Vietnam discovers convenience of convenience stores

Truong Dinh Hoe, Secretary-General of the Vietnam Association of Seafood Exporters and Producers (VASEP) How do you assess the preliminary results of the POR 13? On April 9, the US Department of Commerce (DoC) announced the preliminary results of anti-dumping tariffs on Vietnamese warm-water shrimp exported to the US in the period from February 1, 2017 to January 31, 2018. The DoC concluded that frozen shrimp products of two mandatory respondents in the review, Sao Ta Foods JSC (Fimex VN) and Nha Trang Seaproduct Company, did not violate anti-dumping regulations in this period. As a result, preliminary tariffs on those two companies and other 29 local shrimp exporters will stand at zero. The final decision is expected in August 2019. If it remains unchanged, the zero tax rate will officially take effect, opening up prospects of boosting Vietnam’s shrimp exports to the US. What should Vietnam’s shrimp industry do to make the most of its opportunities? In addition to … [Read more...] about US lifts anti-dumping tariffs from Vietnamese shrimp

  Violations of "made-in-Việt Nam" labelling would be strictly handled. — Photo tienphong,vn HÀ NỘI — The National Steering Committee for Combating Smuggling, Commercial Fraud and Counterfeit Goods has asked the handling of violations related to “made-in-Việt Nam” origin fraud to be enhanced. The order came amid a reported flow of foreign-made and counterfeit products labelled as “made-in-Việt Nam”, especially consumer and fashion goods, which was causing a loss to the State budget revenue and damage to consumers as well as negatively affecting domestic export firms. Fighting origin fraud was essential to protecting brands and the rights of consumers, as well as creating a healthy business environment, the committee said. Focus would be placed on tightening supervision at border areas and strictly punishing violations related to trading of counterfeit products and products which were made in foreign countries … [Read more...] about Fight against origin fraud to be enhanced