Quotas for sugar imports from ASEAN removed

There will be no limits on the amounts of sugar imports into Vietnam from member states of the Association of Southeast Asian Nation (ASEAN), beginning next year.

Quotas for sugar imports from ASEAN removed

The Ministry of Industry and Trade (MoIT) will not apply any import quota from January 1, 2020.

Under the Circular No. 23/2019/TT-BCT, the MoIT said the new regulation would be applied to sugar with code HS 1701.

The amount of sugar imported from ASEAN countries is not included in the annual tariff quotas, which are announced by the MoIT under the commitments of the World Trade Organization (WTO) applied to WTO member countries.

 

The ministry will continue to coordinate with the Ministry of Agriculture and Rural Development, relevant State management agencies and Vietnam Sugar Association to study and advise the Government for consideration to apply trade remedies and import management measures in line with international commitments, ensuring fair competition and reasonable protection of domestic production if there is a sudden increase of imports which could damage Vietnamese businesses./.VNA

Illegally-imported sugar products threaten Vietnamese firms

Illegally-imported sugar products threaten Vietnamese firms

Illegally-imported sugar products have seriously affected the Vietnamese sugar sector which is facing numerous challenges.  

VN sugar companies anticipate big difficulties from ATIGA

VN sugar companies anticipate big difficulties from ATIGA

Some sugar refineries have had to stop their operations. Others that have made big investments are not sure about their fates.

 
 

Other News

.
When Apple comes to Vietnam and FDI flow starts moving
When Apple comes to Vietnam and FDI flow starts moving
FEATUREicon  18/05/2020 

Apple is making clearer signals in the production of components and products in Vietnam, opening up opportunities for Vietnam to participate more deeply in the global value chain.

Vietnam urged to readjust development strategy in post-pandemic period
Vietnam urged to readjust development strategy in post-pandemic period
BUSINESSicon  18/05/2020 

With a limited state budget, Vietnam should mobilize social resources to support startups and large-scale enterprises, those considered capable of driving the economy forward.

Vietnam economy accelerates to get back to normal state
Vietnam economy accelerates to get back to normal state
BUSINESSicon  18/05/2020 

With the resumption of key economic sectors' activities, such as manufacturing, services and retail, Vietnam’s economy is accelerating to get back to its normal state.

Vietnam remains among 4 most optimistic countries worldwide despite Covid-19
Vietnam remains among 4 most optimistic countries worldwide despite Covid-19
BUSINESSicon  18/05/2020 

Health continued to be No.1 concern among Vietnamese consumers, with the highest level globally.

Ministry to strictly manage rice exports via international border gates
Ministry to strictly manage rice exports via international border gates
BUSINESSicon  17/05/2020 

The Ministry of Industry and Trade (MoIT) will continue to strictly manage rice exports through international border gates, said an official.

Small businesses change business models to survive pandemic
Small businesses change business models to survive pandemic
BUSINESSicon  16/05/2020 

Seeking new markets, making new products and following new business thinking are actions now being taken by Vietnam’s businesses to overcome current difficulties.

Where will FDI head after leaving China?
Where will FDI head after leaving China?
BUSINESSicon  18/05/2020 

Foreign investors are considering relocating their production bases out of China, and many of them are heading for Vietnam.

In Vietnam, hotels are being sold as owners take losses amid Covid-19
In Vietnam, hotels are being sold as owners take losses amid Covid-19
BUSINESSicon  17/05/2020 

Many owners cannot maintain operation of their hotels during the epidemic and want to sell them.

More M&A deals in VN's real estate sector during COVID-19
More M&A deals in VN's real estate sector during COVID-19
BUSINESSicon  17/05/2020 

The epidemic has brought great opportunities to businesses with powerful financial capability to ‘hunt’ for attractive projects and take them over.

Foreign investors call for greater flexibility in Vietnam's upcoming PPP law
Foreign investors call for greater flexibility in Vietnam's upcoming PPP law
BUSINESSicon  16/05/2020 

A lack of a unified legal framework governing PPP is the main factor that Vietnam’s infrastructure sector growth potential is capped at 6.1% per year through 2029.

Protectionism no good for economies amid COVID-19: APEC expert
Protectionism no good for economies amid COVID-19: APEC expert
BUSINESSicon  16/05/2020 

Some developing countries in Asia, including Vietnam, could still grow amid the COVID-19 pandemic due to an increase in domestic demands when the manufacturing sector recovers.

Covid-19 highlights Vietnam’s omni channel shopping trend
Covid-19 highlights Vietnam’s omni channel shopping trend
BUSINESSicon  16/05/2020 

Local retailers in FMCG should rethink their channel strategy as Covid-19 impacted the way Vietnamese consumers shopping.

Maritime transport firms hit hard by coronavirus pandemic
Maritime transport firms hit hard by coronavirus pandemic
BUSINESSicon  15/05/2020 

Maritime transport firms in Vietnam are feeling the brunt of the novel coronavirus pandemic as a large number of their ships are idle due to the falling demand for cargo transport.

Multinationals riding high in Vietnam’s pharma landscape
Multinationals riding high in Vietnam’s pharma landscape
BUSINESSicon  15/05/2020 

Multinational corporations like Sanofi, GlaxoSmithKline, and Reckitt Benckiser gaining the advantage in Vietnam’s over-the-counter channel, or non-description drugs, in the first quarter of 2020 has in part fuelled their global performance.

A vaccine for real estate amid challenging times
A vaccine for real estate amid challenging times
BUSINESSicon  15/05/2020 

The Vietnamese real estate market has been feeling the pinch, but it can make a swift recovery when the pandemic is brought under control with support policies from the government and promotional campaigns from developers.

Vietnamese consumers among the most optimistic in Asia during COVID-19
Vietnamese consumers among the most optimistic in Asia during COVID-19
BUSINESSicon  15/05/2020 

Vietnamese consumers are some of the most optimistic in Asia during the COVID-19 pandemic, according to American management consulting firm McKinsey’s recent consumer survey.

Finance Ministry to loosen credit quota for securities
Finance Ministry to loosen credit quota for securities
BUSINESSicon  15/05/2020 

Ministry of Finance’s proposal to increase the quota for credit poured into the securities sector is largely backed by market experts.

Hotel market to recover next year
Hotel market to recover next year
BUSINESSicon  15/05/2020 

The hotel market in Viet Nam this year is expected to face a severe decline in room occupancy due to the COVID-19 pandemic and will not recover until next year, industry experts have said.

VN credit institutions recover nearly $1.2b of bad debts in Q1 2020
VN credit institutions recover nearly $1.2b of bad debts in Q1 2020
BUSINESSicon  15/05/2020 

Credit institutions in Viet Nam settled more than VND26.94 trillion (US$1.17 billion) of non-performing loans (NPLs) in the first quarter of this year.

Online food sellers in Vietnam develop after COVID-19
Online food sellers in Vietnam develop after COVID-19
BUSINESSicon  15/05/2020 

Online food sellers have long been known as a channel to buy local, unnamed products, but now they are growing as an effective source for branded food firms.

 
 
 
Leave your comment on an article

OR QUICK LOGIN