Fight against origin fraud to be enhanced

Created 15 May 2019
  • PDF
Editor Choice
Share
(0 votes, average 0 out of 5)

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.

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 but labelled “made in Việt Nam”.

The US raised tariffs on US$200 billion worth of Chinese imports from 10 per cent to 25 per cent, effective on Friday, as the trade dispute between the two countries deepened.

Experts warned that the escalating US-China trade war would have significant impacts on the global economy.

As the Vietnamese economy was largely dependent on trade, with exports equivalent to more than 100 per cent of the country’s gross domestic product, and the country also running a large trade surplus with the US, experts worried that Chinese goods would flow into Việt Nam and be labelled as “made-in-Việt Nam” to be exported to the US and other countries to avoid paying high tax rates.

This would badly affect domestic production, especially when the US might consider raising tariffs on Vietnamese products.

According to Nguyễn Đức Thành, director of the Việt Nam Institute for Economic and Policy Research, in the US-China trade war, Chinese producers might shift their products which were subject to high tax rate when directly exported to the US to other countries, especially ASEAN member countries. This would badly affect made-in-Việt Nam products, Thành said. VNS


Source: VNN

Maybe You Also Interesting :

» Việt Nam could face power shortage

Việt Nam could face an electricity shortage of 6.6 billion kWh in 2021 and 11.8 billion kWh in 2022. The shortage could increase to 15 billion kWh in 2023,...

» World’s largest glove maker to open first Vietnam factory next year

Malaysia’s Top Glove will open its first plant in Vietnam next year to meet the surging demand in the country for hygienic gloves. 

» HCM City firms’ exports increase by 9.2 per cent

Exports by HCM City-based enterprises in the first six months of the year topped US$19.6 billion, a 9.2 per cent increase year-on-year, according to the city...

Popular News Categories:

- Asia & Asean  |  EU & Russia  |  America

- Facts  |  Urban  |  Faculty  |  Environment

- Business  |  Finance  |  Market Health

- Destination  |  Cuisine  |  Arts Music

- Cinema  |  Soccer  |  Sports  |  IT & Internet