HCMC – A council responsible for preventing certificate of origin (C/O) fraud will be launched in Hanoi on October 14, said an expert in the industry.
Tran Thi Thu Huong, director of the trade documents attesting center of the Vietnam Chamber of Commerce and Industry (VCCI), told the Daily on the phone that the VCCI-affiliated council would issue early warnings about suspected C/O fraud.
The launch comes at a time when many experts are warning of rising C/O fraud in other countries where companies want to evade anti-dumping tariffs.
“Enterprises should take caution when signing commercial and investment cooperation contracts with partners for products having high risk of being imposed anti-dumping tariffs,” she said, adding the council would work companies via industry associations.
The forthcoming council will also work with the Ministry of Planning and Investment to provide advice for foreign companies before they set up shop in Vietnam if their products belong to the list of goods already subject to anti-dumping duties. It aims to prevent the possibility that their products don’t meet requirements for C/Os.
“An early warning will help investment licensing agencies that will in turn let investors know whether their products are eligible for certification of origin or not,” said Huong. “This procedure can prevent foreign investors from building factories without a single production line in Vietnam or with pro forma production facilities just to apply for C/Os.”
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