Weak demand for domestic sugar and the penetration of smuggled sugar have been dragging down sugar prices in Vietnam, driving many producers into unprofitability.
The fight against trade fraud became even tougher after the US-China trade war broke out in 2018, according to Director of the Post-Customs Clearance Inspection Department Nguyen Tien Loc.
Country of origin fraud cases, wherein Chinese products bear Made-in-Vietnam labels, are on the rise, with Vietnam’s customs authority recently inspecting 76 cases
An agency from the General Department of Vietnam Customs has accused four firms of relabeling foreign-made products as Vietnamese, including bicycles and wooden shelves, to avoid high U.S. tariffs.
Given the more complicated nature of origin fraud, the Government has ordered a review of legal documents and has called for tighter control over the issuance of certificates of origin (C/O).
Popular women clothing brand Seven.AM has closed its stores in Hanoi after authorities seized thousands of products for investigations into their allegedly replacing made-in-China labels with Vietnamese alternatives.
The Prime Minister has given instructions to fight against origin fraud and illegal transshipment to protect brands and the prestige of Vietnamese goods.
According to a market research by Forest Trend, in the first five months of this year, the number of new FDI projects in wood industry totaled 49 projects, of which there were 32 projects belonging to wood processing field.
Amid the US-China trade war, the US is paying higher notice to Vietnamese products. As a result, enterprises have had to change business practices to adapt to new circumstances.