Goods exported from Vietnam would be applied with the C/O mechanism. (Photo: VNA) Hanoi (VNA) - The Ministry of Industry and Trade has issued Circular No 03/2019/TT-BCT stipulating the certificates of origin (C/O) rules in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). According to the ministry’s Import-Export Department, the CPTPP has some differences compared to other Free Trade Agreements (FTAs) which Vietnam has signed including the rule of origin of goods and rules of origin of refurbished and recycled goods. The C/O form issued to Vietnam’s exported goods including the minimum information required by the CPTPP was also issued alongside the circular that will take effect from March 8, 2019. Regarding the mechanism for certification of origin, goods exported from Vietnam would be applied with the C/O mechanism by agencies and organisations authorised by the ministry. The transition time to implement the mechanism of exporters … [Read more...] about Ministry of Industry and Trade issues circular on certificates of origin
Ministry of industry and trade
Ministry of Industry and Trade rejects supermarkets to open all day
Previously, a draft proposal to develop a decree of the Government on development and management of distribution industry was issued by the Ministry of Industry and Trade. However, several organs such as the Chamber of Commerce and Industry of Vietnam (VCCI) expressed disagreements on the proposal. VCCI argued that the government and the Ministry of Industry and Trade are working to cut down the business conditions in the sectors that the ministry manages. However, some of the content in the draft are essentially aimed to add new operating conditions that cause difficulties to businesses. For example, the draft stipulates definitions of supermarkets, trade centers, regulations on supermarket standards, trade centers, including the standards for minimum area, fire prevention, security, safety ... In particular, the draft proposes the opening hours for supermarkets, trade centers: must be open all days of the week, including public holidays, at least from 10 am to 10 pm which VCCI … [Read more...] about Ministry of Industry and Trade rejects supermarkets to open all day
Ministry of Industry and Trade streamlines 54 administrative procedures
This is the third time that the Ministry of Industry and Trade (MoIT) has abolished a range of troublesome administrative procedures, with 54 procedures in ten areas eliminated and streamlined. This is the 3rd time that the MoIT has abolished its troublesome administrative procedures - Illustrative image Minister of Industry and Trade Tran Tuan Anh has signed a decision approving the plan to cut a series of administrative procedures and business conditions in 2018. As many as 54 administrative procedures in the areas of energy, import-export, competition management, trade promotion, food safety, and others will be slashed and simplified, with 12 procedures to be removed and 42 procedures to be simplified. Concerning the area of imports and exports, the MoIT will abolish the regulation on the issuance of licences for the import of cigarettes for duty-free goods trading which has been in place since 1998. The ministry also reduced its processing time from five to three working … [Read more...] about Ministry of Industry and Trade streamlines 54 administrative procedures
Minister of Industry and Trade: CPTPP’s promises and perils
(VEN) - On March 9, 11 Asia-Pacific nations including Vietnam signed a landmark trade agreement in Chile. Vietnam Economic News’ Thu Hang & Nhat Quang interviewed Minister of Industry and Trade Tran Tuan Anh about the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP). Could you indicate the CPTPP’s expected benefits for the Vietnamese economy? Which sectors will benefit most from the trade deal? The CPTPP will have positive impacts on a relatively comprehensive range of fields. However, like any integration frameworks, it will have both positive and adverse impacts. The extent of the CPTPP benefit for the Vietnamese economy depends on actual conditions and how Vietnam implements its integration and reform commitments to achieve sustainable growth and added value for the economy. Like other CPTPP member countries, Vietnam is committed not only to opening its domestic market, removing tariff barriers and further facilitating trade, but also … [Read more...] about Minister of Industry and Trade: CPTPP’s promises and perils
Ministry of Industry and Trade praised for achievements in administrative reform
The Prime Minister Nguyen Xuan Phuc has praised the Ministry of Industry and Trade for removing hundreds of requirements and permits for businesses. Ministry of Industry and Trade praised for achievements in administrative reform The Ministry of Industry and Trade is the first state agency that has begun to review and remove unnecessary procedures. It has removed 675 out of 1,200 business requirements. The Ministry of Agriculture and Rural Development is in the second place after cutting or revising 118 requirements.The Ministry of Industry and Trade has submitted the revised draft laws on investment and enterprises in which it proposed to remove unnecessary and unsuitable requirements in 20 businesses.Phan Duc Hieu, deputy director the Ministry of Planning and Investment's Central Institute for Economic Management, said, "I've never seen such positive results from state agencies. I have high regards for the Ministry of Industry and Trade because they acted before … [Read more...] about Ministry of Industry and Trade praised for achievements in administrative reform