Ministry to boost trade defence measures in line with int’l commitments Workers loading coils on trucks at a steel mill in northern Viet Nam. An early warning system on trade remedy risks for certain exports will be completed this year so that enterprises can gear themselves up early. — Photo baodautu.vn Le Trieu Dung, Director of the MoIT’s Trade Remedies Authority of Vietnam (TRAV), said the ministry will accelerate current trade remedy probes into imports so as to take timely action to protect domestic manufacturers. An early warning system on trade remedy risks for certain exports will be completed this year so that enterprises can gear themselves up early. Additionally, MoIT will coordinate with relevant agencies to boost action against origin fraud and illegal transhipments aimed at evading trade remedies, while working to improve the trade remedy-related capacity of domestic businesses and State agencies, Dung said. Since becoming a member of the WTO and free trade agreements (FTAs), Viet Nam has opened its market and slashed import tariffs on a large number of goods, exposing its businesses to strong competition from imports. Trade defence measures, which are policy tools permitted by the WTO, he said, have an important role to play in ensuring effective economic integration and minimising its adverse impact on businesses. Between 2016 and 2020, MoIT launched 13 trade remedy investigations into imported commodities such as DAP fertiliser, monosodium glutamate (MSG), steel, and BOPP film. Remedies applied so far have proved effective in addressing losses caused by surges of imports and protecting domestic producers, he said. He pointed out that State agencies and some enterprises have worked to promote their trade remedy-related capacity, but many shortcomings remain, so a new policy and legal framework that matches provisions in the FTAs Viet Nam has joined is needed. The issue of trade defence as stipulated in Chapter 5 …
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VIETNAM BUSINESS NEWS FEB. 22
Over 14,000 tonnes of dragon fruit exported to China via Lao Cai border gates During the period, total import-export revenue through border gates in Lao Cai reached over 11 million USD, including 2.4 million USD worth of imports, mainly fertilisers and farm produce, and 8.8 million USD worth of exports, mostly agricultural products. In 2020, despite the impact of COVID-19, the Border Gate Customs Sub-Department under the Lao Cai Department of Customs completed its “twin targets” by processing customs clearance declarations for 516 businesses with import-export value of over 1 billion USD and ensuring safety from the pandemic. In 2021, it will closely coordinate with other sectors to speed up administrative reform while exhibiting better performance in e-customs clearance activities to save time and cost, ensuring economic development and COVID-19 prevention and control at the same time./. Local automobile group exports over 200 units, parts Automobile producer THACO recently shipped more than 200 Kia vehicles and auto parts to Thailand, Myanmar, Japan, and the Republic of Korea (RoK). The conglomerate’s largest export consignment to date, made on February 17, comprised of cars, buses and semi-trailers manufactured at its factories at the THACO-Chu Lai Industrial Park in central Quang Nam province. The exports included 80 Grand Carnival cars to Thailand, the company’s seventh consignment to its partner, Yontrakit, since December 2019. One hundred and twenty Kia Soluto cars were shipped to Myanmar, the sixth batch to this market. Kia cars manufactured by THACO are increasingly appreciated by customers in ASEAN countries since their quality is equivalent to those made in the RoK and meets global Kia standards, while their prices are very competitive. In 2021, THACO plans to export 1,480 automobiles to Thailand and Myanmar, expand exports to other markets, and gradually achieve its goal of becoming a production and export base for Kia Motors …
VIETNAM NEWS HEADLINES FEB. 23
High-quality workforce crucial for Mekong Delta A high-quality workforce is considered an important factor for the Mekong Delta to make breakthroughs in the future, according to the annual Mekong Delta Economic Report 2020. The report was jointly prepared by the Vietnam Chamber of Commerce and Industry and the Fulbright University Vietnam’s Fulbright School of Public Policy and Management. Despite being abundant, the workforce in the Mekong Delta is aging, and younger workers are tending to migrate to other regions, especially Ho Chi Minh City and the southern region, where job opportunities are plentiful, according to the report. The Mekong Delta now has the lowest immigration in the country and the highest emigration. It is also the only region to have recorded population growth of zero percent during the 2009-2019 period. Secretary of the Dong Thap provincial Party Committee Le Quoc Phong said the province has launched five strategic breakthroughs for 2020-2025, including continuing to improve workforce quality to meet development demand amid the fourth Industrial Revolution and global integration, enhancing the quality of educational establishments, linking with universities, and paying attention to the transfer of technological advances and economic management knowledge to farmers. Meanwhile, Secretary of the Can Tho municipal Party Committee Le Quang Manh said the city is now home to over 70 universities and research institutes and more than 7,450 people are involved in scientific research, including leading units in agriculture in the country and the region such as Can Tho University (CTU), Can Tho University of Technology, Nam Can Tho University, and the Mekong Delta Rice Research Institute. To develop human resources and scientific research, Can Tho looks to continue expanding close and effective ties with regional localities in both breadth and depth via sustainable measures. CTU Rector Prof. Ha Thanh Toan said it has set a goal of …
