Anti-fraud council set up in Ha Noi

HA NOI — A council responsible for warning and preventing trade fraud, especially in the area of certificates of origin (C/O), made its debut yesterday in Ha Noi.

The past few years had seen an increasing amount of C/O fraud, especially in products which have been subject to anti-dumping tariffs, said the council chairwoman Tran Thi Thu Huong.

The council, under the Viet Nam of Chamber of Commerce and Industry (VCCI), would issue early warnings about suspected C/O fraud, Huong said.

It would work with companies via industry associations, she said, adding that updated information about current trade fraud cases and consultation for specific sectors and export markets as well as training courses would also be provided.

Enterprises should take caution when signing commercial and investment co-operation contracts with partners for products likely to be subject to anti-dumping tariffs, said VCCI vice chairman Pham Gia Tuc.

Council members included representatives from the VCCI, the Ministry of Industry and Trade's Competition Administration Department, the Ministry of Planning and Investment and the General Department of Customs.

More than 11,000 incidents of fake and smuggled goods as well as trade fraud were detected in the capital in the first half of this year, according to the municipal Anti-Smuggling Steering Committee 127.

The completed prosecution of about 5,500 offences resulted in fines totalling VND531 billion (US$28 million). — VNS

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New council formed to fight trade fraud

The consultancy council for warning and preventing trade fraud in
certificates of origin (C/O) under the Vietnam Chamber of Commerce and
Industry (VCCI) made its debut at a ceremony in Hanoi on October
14.

At the ceremony, VCCI’s Vice President Pham Gia Tuc said
that the council aims to protect Vietnamese producers and enterprises,
as many foreign organisations use fake Vietnamese C/O.

Tuc said
that to make the council more effective, besides cooperating with
domestic organisations, Vietnam needs to work closer with foreign
organisations involved in fighting trade fraud, chambers of commerce and
agencies that grant C/O.

Tran Thi Thu Huong, the council’s
president, said that the council will warn Vietnamese enterprises to
find out more about their customers’ products before signing any
contracts, as they risk facing anti-dumping taxes.

The council
will work with the Ministry of Planning and Investment to provide
consultancies to foreign enterprises before they decide to invest in the
country.

According to VCCI, the number of cases of C/O fraud has
been steadily increasing, especially products that pay anti-dumping
taxes./.

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C/O fraud prevention council to debut next week

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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C/O fraud prevention council to debut next week

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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