Trade Ministry urges VCCI to speed up registration of REX Code

The Ministry of Industry and Trade (MoIT) has urged the Vietnam Chamber of Commerce and Industry (VCCI) to speed up the registration of REX codes for producers to facilitate exports to the European Union (EU).

MoIT urges VCCI to speed up registration of REX Code hinh anh 1

The Ministry of Industry and Trade urges VCCI to speed up registration of REX Code to facilitate exports 

REX, or registered exporter system, is a system of certification of origin of goods based on self-certification.

The VCCI is in charge of receiving exporters’ application for registration of REX Code and carrying out the registration.

According to the MoIT, the process of registering the codes has been slow.

The MoITcited figures on the EU’s REX Authorisation system that the VCCI had registered a REX Code for 429 producers or just 10.7 percent of the total 4,000 exporters who were applying for C/O form A.

Some enterprises said they had sent documents to the VCCI for certification for a REX Code but had not received a response from the VCCI, according to the MoIT.

 

The MoIT asked the VCCI to speed up the registration of REX Codes for firms to facilitate exports to the EU, Norway and Switzerland, together with providing instructions for firms on how to complete documents for registration.

The REX system means producers would not need to apply for C/O form A each time they export goods to the EU.

Instead, they could self-certify the origins of the goods for orders with a value of below 6,000 euros and for orders worth above 6,000 euros, they would need to register REX Code at the VCCI for self-certification of goods origin. VNA

Exports suffer during Covid-19 crisis as orders are cancelled or delayed

Exports suffer during Covid-19 crisis as orders are cancelled or delayed

Some countries have temporarily closed shopping centers and asked people to stay at home to prevent the spread of coronavirus, which has affected exports of Vietnamese enterprises.

Trade Ministry proposes exporting 400,000 tonnes of rice in April

Trade Ministry proposes exporting 400,000 tonnes of rice in April

The Ministry of Industry and Trade (MoIT) has proposed to resume rice exports from April, with a volume of 400,000 tonnes, after the ministry has...

 
 

Other News

.
Bayer to pay $10.9bn to settle weedkiller cancer claims
Bayer to pay $10.9bn to settle weedkiller cancer claims
BUSINESSicon  26/06/2020 

The chemical giant is settling almost 100,000 US lawsuits from users of its popular Roundup herbicide.

Vietnam's logistics service industry ready for opportunities from EVFTA
Vietnam's logistics service industry ready for opportunities from EVFTA
BUSINESSicon  26/06/2020 

Vietnam’s logistics service industry is preparing infrastructure and techniques to grasp opportunities from the Europe-Vietnam Free Trade Agreement (EVFTA) to attract foreign investors with a wave of factories.

Vietnam Airlines to buy more aircraft despite big losses
Vietnam Airlines to buy more aircraft despite big losses
BUSINESSicon  26/06/2020 

The national flag air carrier is still moving ahead with its plan to buy 50 narrow-body aircraft, though it has reported a loss of VND2.6 trillion in Q1.

Vietnam's footwear firms forced to lay off workers due to Covid-19
Vietnam's footwear firms forced to lay off workers due to Covid-19
BUSINESSicon  26/06/2020 

The coronavirus pandemic has left tremendous impact on Vietnam's footwear industry, with the lack of production orders and the consequent drop in exports forcing them to lay off employees. 

PM approves suspension of Bac Van Phong SEZ plan
PM approves suspension of Bac Van Phong SEZ plan
BUSINESSicon  25/06/2020 

PM Nguyen Xuan Phuc has approved the suspension of a master plan to develop the Bac Van Phong special economic zone in Khanh Hoa Province until the National Assembly agrees to pass the law on special administrative and economic zones.

Orientations put Hanoi onto investment radar
Orientations put Hanoi onto investment radar
BUSINESSicon  25/06/2020 

Amidst the global trend of investment shifts, Hanoi is betting on new orientations and solutions to increase its appeal, expecting to open opportunities for international investors to venture further afield.

EVFTA promises an enhanced Vietnam
EVFTA promises an enhanced Vietnam
FEATUREicon  25/06/2020 

The National Assembly has passed the EU-Vietnam Free Trade Agreement and the EU-Vietnam Investment Protection Agreement, ushering in a new economic, trade, and investment co-operation outlook for both Vietnam and the EU.

VietinBank to sell 50 percent of capital in Vietinbank Leasing
VietinBank to sell 50 percent of capital in Vietinbank Leasing
BUSINESSicon  25/06/2020 

Vietinbank (CTG) has approved a plan to sell 50 percent of its holdings in the bank’s financial arm Vietinbank Leasing Company Limited.

Circular about origin rules in EVFTA issued
Circular about origin rules in EVFTA issued
BUSINESSicon  25/06/2020 

Minister of Industry and Trade Tran Tuan Anh has signed Circular 11/2020/TT-BCT about rules of origin in the European Union – Viet Nam Free Trade Agreement (EVFTA).

Vietnamese retailers need support as EVFTA takes effect
Vietnamese retailers need support as EVFTA takes effect
BUSINESSicon  25/06/2020 

The opening of the domestic market as committed in the EU – Vietnam Free Trade Agreement (EVFTA) will lead to the strong penetration of foreign businesses to expand their retail chains in the country.

Sands shifting as pandemic shakes up geopolitical arena
Sands shifting as pandemic shakes up geopolitical arena
BUSINESSicon  25/06/2020 

With the current upheaval taking place around the world due to the coronavirus pandemic, how can geopolitical frictions between the major powers impact nations like Vietnam that are looking to attract top investment?

Encouraging biomass energy to buttress turn to renewables
Encouraging biomass energy to buttress turn to renewables
BUSINESSicon  25/06/2020 

Biomass has the potential to be a critical portion of Vietnam’s renewable change. 

Thai billionaires experiencing tough days in Vietnam
Thai billionaires experiencing tough days in Vietnam
BUSINESSicon  25/06/2020 

The completion of M&A deals with Thai investors has been followed by a succession of tough days in Vietnam, reported Nhip Cau Dau Tu.

Vietnam's public debt payment at safe levels after pandemic
Vietnam's public debt payment at safe levels after pandemic
BUSINESSicon  26/06/2020 

The ratio of public debt to GDP is not too high, but the pressure of debt repayment in both VND and foreign currencies will increase in 2020-2021.

Why does SCIC want to invest in Vietnam Airlines?
Why does SCIC want to invest in Vietnam Airlines?
BUSINESSicon  25/06/2020 

The State Capital Investment Corporation (SCIC) has asked for permission to become involved in the restructuring of Vietnam Airlines after Covid-19 and become a shareholder of the corporation.

Climbing the value chain to maximise investment
Climbing the value chain to maximise investment
FEATUREicon  25/06/2020 

In general, foreign investors are seeking safe, stable investment environments with established real estate market practices, rule of law, and structured land ownership, with available financial support from banks.

Office segment resilient amid health emergency struggles
Office segment resilient amid health emergency struggles
FEATUREicon  25/06/2020 

In the first months of 2020, the office segment remained resilient in both Hanoi and Ho Chi Minh City admit the impacts of the COVID-19 pandemic.

Revenue risk to be applied sparingly
Revenue risk to be applied sparingly
BUSINESSicon  25/06/2020 

Vietnam will, for the first time, apply revenue risk allocation for public-private partnership initiatives from early 2021, but the application will be restricted to certain projects to ensure bankability.

Lang Son proposes new construction plan for $330 million Huu Nghi-Chi Lang Expressway
Lang Son proposes new construction plan for $330 million Huu Nghi-Chi Lang Expressway
BUSINESSicon  24/06/2020 

Lang Son People’s Committee has submitted the construction plan of Huu Nghi-Chi Lang Expressway to the Ministry of Planning and Investment

Hundreds of VinMart+ stores will be closed
Hundreds of VinMart+ stores will be closed
BUSINESSicon  24/06/2020 

Under the management of Masan, hundreds of VinMart+ convenience stores will be closed this year.

 
 
 
Leave your comment on an article

OR QUICK LOGIN