Việt Nam’s industry sector has seen continuous recovery with the index of industrial production (IIP) expanding 6.0 per cent year-on-year in the first four months of this year, according to the Ministry of Industry and Trade (MoIT).

In April alone, the IIP rose 0.8 per cent over the previous month and 6.3 per cent compared to the same period last year.

Manufacturing-processing industry recorded the highest growth, with a year-on-year increase of 7 per cent in April and 6.3 per cent in the first four months of this year, the MoIT said.

A MoIT representative said that the results showed the efficiency of the Government’s support measures and drastic directions from the Prime Minister in speeding up the disbursement of public investment capital and the implementation of major industrial projects, as well as efficient FDI attraction solutions.

Meanwhile, the recovery of the world market has helped increase the new export orders, the representative said, adding that domestic firms’ capacity and confidence have been strengthened thanks to the Government’s support policies and the stable domestic macro-economic situation and the world market’s recovery.

However, the MoIT warned of risks in industrial production and trade activities, including incomprehensive IIP recovery among the localities and strong fluctuations in exchange rates.

Đào Phan Long, President of the Việt Nam Association of Mechanical Industries (VAMI), held that businesses are in need of support measures to connect them with relevant ministries and sectors, as well as solutions to cope with their difficulties in capital and interest rates and assistance in administrative procedures.

Meanwhile, Nguyễn Vân, Vice President of the Hanoi Supporting Industry Business Association (HANSIBA), underlined the need to support businesses in capital, especially that with low interest rate to help them recover and grasp opportunities in 2024. Policies on debt rescheduling and extending debt repayment time will be helpful for businesses to ensure temporary capital to boost production and business activities, he stressed.

The MoIT said it will continue speeding up the disbursement of public investment capital and major projects in the fields of electricity, oil and gas, manufacturing-processing, and mining, thus creates market capacity for businesses to develop.

The ministry also pledges to give solutions to remove difficulties facing businesses and connect them with the supply chains of foreign firms investing in Việt Nam. 

Việt Nam coffee exports to Singapore scant, room to grow enormous

Despite its small population, Singapore's coffee imports are relatively large, but Vietnamese exports to it remain modest, leaving ample room for expansion, according to the Vietnam Trade Office in that country.

Singapore’s coffee imports are worth SGD140 - 150 million (US$103.6- $110.9 million) a year, the same as Việt Nam's coffee exports to Thailand and Indonesia, it said.

Last year Malaysia, Indonesia and Switzerland were its biggest exporters, accounting for nearly 50 per cent of its market share and dominating the Arabica, robusta, and roasted and ground coffee market shares.

Việt Nam is only the ninth largest coffee exporter to Singapore with a share of 2.22 per cent worth SGD3.16 million ($2.3 million) last year. In the first quarter of this year its exports skyrocketed by 175.38 per cent to SGD1.46 million ($1.08 million) and a 3.64 per cent share.

Việt Nam mainly exports roasted and ground coffee followed by unroasted robusta and Arabica, with the latter, despite small numbers still, increasing by 28 per cent last year and 4.2 times in Q1.

In addition to its domestic demand, Singapore is also the region's leading transshipment trade hub, which if exploited well, will help Vietnamese coffee products enter third countries.

To promote exports to the country, the trade office said it is actively working with Vietnamese businesses to offer Singaporean importers timely information about coffee products and help them participate in trade fairs in Singapore to increase their presence there.  

According to the Việt Nam Coffee and Cocoa Association, in the first six months of the 2023 - 24 coffee crop until March, Việt Nam exported 956,000 tonnes of coffee worth more than $3 billion.

In March exports were down 11.9 per cent in volume to 185,000 tonnes but up 41.1 per cent in value to $680.86 million as prices shot up.

The industry eyes $5 billion in exports this year from $4.24 billion last year. 

US initiates first sunset review of laminated woven sacks imported from Việt Nam

The US Department of Commerce (DOC) announced the first sunset review of the anti-dumping and countervailing duty orders on laminated woven sacks imported from Việt Nam, according to the Trade Remedies Authority of Việt Nam under the Ministry of Industry and Trade (MoIT).

The agency said the decision was announced by the DOC on May 1.

The investigated products have HS codes 6305.33.0040, 3917.39.0050, 3921.90.1100, 3921.90.1500, 3923.21.0080, 3923.21.0095, 3923.29.0000, 4601.99.0500, 4601.99.9000, 4602.90.0000, and 5903.90.2500.

They were subject to anti-dumping and countervailing duty investigations by the US in 2018 and have been taxed since 2019 at the rates of between 109.46 per cent to 292.61 per cent for the anti-dumping investigation, and between 3.02 per cent to 198.87 per cent for the countervailing duty investigation, the agency said.

The sunset review is conducted once every five years. If the review results indicate that discontinuing the anti-dumping and countervailing duties could lead to the continuation or recurrence of dumping and subsidisation causing significant harm to the US production industry, the duty orders will be extended for another five years.

The Trade Remedies Authority recommended that all relevant production and export businesses familiarise themselves with regulations and procedures for the sunset review process of the US and fully comply with the investigating agency and closely co-ordinate with the authority throughout the entire process of cases.

The DOC has terminated its scope review investigation into steel rolls imported from Việt Nam, according to the Trade Remedies Authority of Vietnam, under the Ministry of Industry and Trade.

The agency said the DOC announced the decision on April 30, ending the investigation initiated on August 7, 2023.

The petitioner, Dexstar Company of the US, submitted a request to the DOC to initiate a scope review investigation into steel rolls finished in Việt Nam from components originating in China, which fall within the scope of the anti-dumping and countervailing duty orders that the US is applying to similar products from China.

Based on the information and documents collected during the investigation, the DOC on March 15, 2024 announced its intention to terminate the work. 

Hà Nội leads in number of OCOP products

Hà Nội continues to maintain its leading position with the largest number of One Commune One Product (OCOP) brands winning three stars or more by the end of last month.

According to the Central Co-ordination Office on New Rural Development, 63/63 provinces and cities have evaluated and classified more than 12,000 OCOP (to the end of April). 

Of these, nearly 74 per cent of OCOP products achieved three star status, 24 per cent of OCOP products  four stars and 42 products five stars, while the remainder are potential five stars.

The Red River Delta is the leading region in the country with nearly 31 per cent of the country's OCOP products, followed by the Mekong Delta (18 per cent), the Northern mountainous region (16.8 per cent), and the Southeast region (5.8 per cent).

Hà Nội has evaluated and classified 2,711 products since 2019. Of which, there are six five-star products, 12 potential five-star products, 1,473 four-star products and 1,220 three-star products.

Hà Nội aims to have 2,000 more OCOP products certified with three stars or over by 2025.

The capital city also wants to have 100 per cent of communes meeting advanced new rural standards to achieve OCOP status and all of the shopping centres and supermarkets in the capital introducing and selling OCOP products.

First batch of bird's nests exported to France via official channels

The Hai Yen Nha Trang One Member Limited (The Hai Yen) exported its first batch of bird's nests to France in late April, marking the first shipment of the products to the demanding market via official channels.

The company’s key export items to the market include bird's nests, bird's nest drink, and bird's nest coffee, all of which have met stringent quality inspection standards set forth by both French and European markets.

Tran Thanh Hai, director of the Hai Yen, said the company, has worked alongside French authorities for a long time to formulate an inspection framework for bird's nest products to make inroads into the market.

The firm has also exerted tremendous efforts in a bid to ensure the overall product quality and build brands of Vietnamese bird's nest within the international market, she added.

The firm expects these items will become even more popular in France and other markets in the European Union, said Hai.

After going through customs clearance, the company’s bird nest products have made their presence at the "Foire de Paris" fair, one of the largest-scale trade shows in Europe that was held from April 27 to May 8 in Paris.

Last year, Hai Yen  also exported its  bird's nests to China.

Due to bright export prospects, Vietnam  has classified bird's nests as one of the special livestock products. 

Over the past decade, the country as implemented a number of policies to promote the development of the bird's nest industry, aiming to earn US$1 billion from export in the coming time.

China emerges as largest buyer of Vietnamese crabs in Q1

Vietnam raked in more than US$52 million from exporting crabs in the first quarter of the year, up 75% year on year, with China emerging as the largest importer, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

Statistics show China, Japan, the United States, Canada, and the UK all remained as the country’s largest five single export markets throughout the reviewed period.

Most notably, the export of crabs and other crustaceans to China skyrocketed by 395% compared to the same period last year.

Alongside China, the export of these products to markets such as Australia and Singapore also witnessed a three-digit growth rate.

This flourishing export growth can largely be attributed to the Lunar New Year holiday in China and other Asian countries, along with the global economic recovery as a result of inflation being contained in many countries.

Currently, Vietnam is home to more than 93 businesses getting involved in exporting crabs and other crustaceans, including Trung Son Long An Co., Ltd, Bach Dang International Co., Ltd, and Hoang Ha International Logistics.

Vietnam eyes contingent of competent entrepreneurs

Vietnam aims to have 2 million firms by 2030 which will contribute 65-70% of gross domestic product (GDP), 32-38% of the total number of jobs, and 98-99% of the total import-export turnover, according to a newly-issued Government action programme to implement the Politburo’s Resolution on building and promoting the role of the contingent of Vietnamese entrepreneurs in the new era.

The action programme also aims to have about 20 - 25% of businesses owned by women, and 30 - 35% having female directors or leaders. The number of businesses ranked among those with the highest brand value by prestigious ranking organisations in the world will increase by 10% each year. At least 10 Vietnamese businessmen will be on the list of world billionaires, and five voted as the most powerful businessmen in Asia by prestigious organisations by 2030.

By 2045, the country is aiming to form and develop a contingent of Vietnamese entrepreneurs with capacity and qualifications that meet national development goals.

To that end, the Government requested more efforts to raise awareness of the position and role of businessmen in implementing the country's development goals, complete policies and laws, and create a favourable and equal investment and business environment for entrepreneurs and enterprises.

Attention will be paid to building ethics and business culture, promoting national spirit, and inspiring the desire to develop a prosperous and happy country; and strengthening solidarity, cooperation, and connectivity between businessmen, workers, farmers and intellectuals.

In addition, efforts will be made to promote the role of the Vietnam Chamber of Commerce and Industry, and the Vietnam Association of Small and Medium Enterprises; and intensify the Party's leadership and State management in building and promoting the role of the entrepreneur contingent./.

Bolstering public investment a catalyst for economic growth: Insiders

Improving the efficacy of public investment will be a locomotive to boost the aggregate demand for economic growth, according to insiders.

Prof.Dr Pham Hong Chuong, Rector of the National Economics University, said it will help promote private investment, better business climate, and attract foreign hi-tech investments.

Allocation and disbursement of the public capital remain sluggish, with more than 21.16 trillion VND (831.35 million USD) waiting to be allocated, accounting for 3.19% of the plan as assigned by the Prime Minister.

Chuong highlighted the NEU’s Annual Economic Assessment of Vietnam 2023 publication that indicates that besides enhancing capacity to lure capital, localities need to sketch out rational allocation plans and policies to better the efficiency of the investment, making it a driving force for the economy.

Vietnam plans to disburse more than 663 trillion VND in public capital in 2024, 16.41% of which has been done so far.

The Ministry of Finance has asked the Ministry of Transport and localities to take drastic solutions to accelerating capital allocation for key transport projects in line with the Government’s regulations.

In its Taking Stock bi-annual economic update released in April, the World Bank recommended the Vietnamese Government expedite infrastructure investment projects financed by public resources to back aggregate demand in the short term.

World Bank East Asia and Pacific Practice Manger for Macroeconomics, Trade and Investment Sebastian Eckardt said efforts to enhance public investment management will also address critical infrastructure gaps in energy, transportation, and logistics, which are fundamental for Vietnam’s long-term economic growth.

The bank also suggested Vietnam sustain fiscal support policy to reinforce the recovery.

Dr. Can Van Luc, Chief Economist at the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) said that the country should nurture new growth motives from digital economic development, innovation, science and technology, stressing the private sector must be seen as an important driver for the economic expansion so that incentives will be rolled out to create a sound investment environment for the sector.

As for consumption stimulation, he suggested the Government pen policies to increase social welfare for the impoverished and the unemployed, raise taxable income, and reduce corporate tax and value added tax.

Chuong said that wage reform and pension increase from July 1 will contribute to enhancing investment for socio-economic infrastructure that creates a foundation for the country’s development./.

Strong recovery seen in industrial production in four months

Vietnam’s industry sector has seen continuous recovery with the index of industrial production (IIP) expanding 6.0% year on year in the first four months of this year, according to the Ministry of Industry and Trade (MoIT).

In April alone, the IIP rose 0.8% over the previous month and 6.3% compared to the same period last year.

Manufacturing-processing industry recorded the highest growth, with a year-on-year increase of 7% in April and 6.3% in the first four months of this year, the MoIT said.

A MoIT representative said that the results showed the efficiency of the Government’s support measures and drastic directions from the Prime Minister in speeding up the disbursement of public investment capital and the implementation of major industrial projects, as well as efficient FDI attraction solutions.

Meanwhile, the recovery of the world market has helped increase the new export orders, the representative said, adding that domestic firms’ capacity and confidence have been strengthened thanks to the Government’s support policies and the stable domestic macro-economic situation and the world market’s recovery.

However, the MoIT warned of risks in industrial production and trade activities, including incomprehensive IIP recovery among the localities and strong fluctuations in exchange rates.

Dao Phan Long, President of the Vietnam Association of Mechanical Industries (VAMI), held that businesses are in need of support measures to connect them with relevant ministries and sectors, as well as solutions to cope with their difficulties in capital and interest rates and assistance in administrative procedures.

Meanwhile, Nguyen Van, Vice President of the Hanoi Supporting Industry Business Association (HANSIBA), underlined the need to support businesses in capital, especially that with low interest rate to help them recover and grasp opportunities in 2024. Policies on debt rescheduling and extending debt repayment time will be helpful for businesses to ensure temporary capital to boost production and business activities, he stressed.

The MoIT said it will continue speeding up the disbursement of public investment capital and major projects in the fields of electricity, oil and gas, manufacturing-processing, and mining, thus creates market capacity for businesses to develop.

The ministry also pledges to give solutions to remove difficulties facing businesses and connect them with the supply chains of foreign firms investing in Vietnam./.

Politburo's resolution promotes role of Vietnamese businesses

This morning, a conference was organized to implement the Politburo’s Resolution 41 on building and promoting the role of Vietnamese businessmen in the new era.

The Central Propaganda and Education Committee coordinated with the Central Economic Commission and the Vietnam Chamber of Commerce and Industry (VCCI) to organize the conference.

The Politburo's Resolution 41 on building and promoting the role of the Vietnamese business community in the new period clearly states the goal of developing a team of Vietnamese businessmen with the capacity and qualifications to meet the national goals of development, high income, position and prestige in the region and internationally. Some enterprises have engaged in global supply chains and value chains.

Head of the Central Propaganda and Education Committee Nguyen Trong Nghia, Deputy Prime Minister Le Minh Khai, Deputy Head of the Central Economic Commission Nguyen Duc Hien, VCCI Chairman Pham Tan Cong, representatives from departments, agencies and businesspersons attended the conference in Hanoi. Standing Vice Secretary of the Ho Chi Minh City Party Committee Nguyen Ho Hai chaired the conference in HCMC.

The conference aims to raise awareness, responsibility, political determination, self-awareness, and exemplary behavior of party committees, party organizations, agencies, organizations, officials, party members, and businessmen to effectively implement the Politburo’s Resolution 41 depending on each locality, agency and organization’s functions and practical situation.

At the conference, Deputy Head of the Central Economic Commission Nguyen Duc Hien reported the main content of the Resolution 41. Deputy Minister of Planning and Investment Tran Duy Dong presented the Government's action program to implement the Resolution 41. VCCI Chairman Pham Tan Cong reported the action program of the VCCI Party Committee in the way of implementing the Resolution 41.

Previously, on May 9, the Government issued the Resolution 66 promulgating the government's action program to implement the Politburo’s Resolution 41. As per the government’s Resolution 66, from now to 2030, the country will have at least 2 million businesses including many entrepreneurs nurtured to lead potential and competitive economic corporations in paving the way for the growth of other industries and fields which are important to the national economy.

By 2030, the country strives to have at least 10 Vietnamese businessmen on the list of world billionaires and the 5 most powerful businessmen in Asia voted by prestigious world organizations.

Moreover, the business sector - an important part of an economy since it is responsible for production and service activities to satisfy human needs and wants - will contribute about 65-70 percent of the country's GDP, about 32-38 percent of total employment in the economy, 98-99 percent of total import-export turnover. Additionally, about 20-25 percent of businesses will be owned by women, and 30-35 percent of business leaders will be female.

The number of businesses ranked as businesses with the highest brand value by prestigious ranking organizations in the world will increase by 10 percent each year.

According to the Resolution, by 2045, there will be a number of entrepreneurs own corporations capable of leading industrial and agricultural value chains, moving towards forming several Vietnam's value chains in prioritized industries.

To achieve the above-mentioned targets, the Government required that in the coming time, ministries, agencies, localities, and business associations need to perfect policies and mechanisms, creating a favorable and equal investment and business environment while paying attention to the development of entrepreneurs on par with the goals and tasks of developing the country in the new era.

The Government also emphasizes organizational culture and ethics - two concepts that are closely intertwined, national spirit, solidarity, cooperation, and connection between businessmen and workers, farmers, and intellectuals.

Along with that, the role of VCCI, Vietnam Association of Small and Medium Enterprises, and organizations representing entrepreneurs and businesses must be promoted.

Counterfeit goods worryingly widespread online

Many businesses are suffering higher overhead costs because they have to increase product quality along with fighting against fake goods widely available on the Internet.

Wishing to buy a new perfume bottle, N.P.K. from Tan Phu District of HCMC found a livestream session to sell cosmetics at a discount of 50 – 70 percent in celebration the Reunification Day. Seeing that the prices of renowned perfume brand names like Chanel or Gucci are only one-fourth or one-fifth of the normal ones displayed in official outlets, she decided to purchase a Gucci bottle, paying VND600,000 (US$23.6). When receiving the pack with no formal receipt or related document and recognizing strange smells from the bottle, plus having red skin after use, she had to throw it away.

A similar story comes from V.T.V. from District 3 in HCMC. He bought a sunscreen bottle as a gift for his girlfriend after being advertised that the product was made in Japan but sold at half price as grey goods. The girl reported that the product is of low quality and might be a counterfeit as some details are different from authentic ones.

Not just luxurious goods but normal commodities like local specialty food items are being faked. In a recent livestream session, fruits and specialties of Can Gio District in HCMC received a lot of positive comments and were hot-sellers. Not long after that, some were faked, greatly annoying consumers due to mistaken purchases just because of cheaper prices.

A market management official in HCMC shared that counterfeit goods are now available everywhere. Functional agencies have already discovered warehouses after warehouses full of fake goods at different values. Most have nearly identical packages with authentic merchandise. This has annoyingly confused owners of renowned brand names in the world when they have to learn ways to differentiate between their own goods and the fake ones on the market!

A majority of counterfeit items are distributed in suburban or rural areas, where people merely know a bit about famous brand names and are willing to choose those with cheaper prices without careful checking.

Meanwhile, businesses have to spend billions of VND for the fight against these harmful products but dare not announce this publicly for fear of consumers stay away from authentic ones as well because of confidence loss. Being so lonely in this fight, they still have no better options than continuing till the end.

Huynh Van Thanh, Director of Can Gio Tuong Lai Cooperative stressed that there must be stricter sanctions to punish people who make or sell counterfeit products, while relevant state departments and localities should help businesses to formally advertise their merchandise to consumers.

Deputy Director Nguyen Quang Huy of the HCMC Market Management Department said that the spreading of counterfeit goods has become increasingly serious. Products could be faked regardless of their values or manufacturing techniques. More seriously, these items are boldly sold on trading floors, social network sites without control. Sadly, there is much trouble pinpointing and then handling them due to foxy methods of sellers. It is harder since most of these harmful products are delivered via a third party shipping company.

Aware of this, the market management team of HCMC has closely cooperated with functional agencies to support businesses sited in the city in the harsh fight against counterfeit goods. They propagandize negative effects of fake merchandise and ways to differentiate them from authentic ones to ensure the rights of both manufacturers and consumers. The professional skills of functional agencies are frequently updated to effectively handle violations regarding this matter.

Chairwoman Phan Thi Viet Thu of the HCMC Consumer Rights Protection Association said that trading counterfeit goods is extremely profitable, especially doing it online, which is why this has become so infamous now with various cunning methods.

She insisted on the necessity of close collaboration among functional agencies in checking and handling such cases. She added that businesses themselves should cooperate via their own announcements on counterfeit goods and ways to identify those unsafe products or to reach authentic ones.

Online trading is obviously lucrative yet possesses a lot of risks. There can be goods of different values, qualities, and origins available on the Internet. Meanwhile, the law enforcement force is not sufficient to cover every corner of the market. Therefore, consumers should be wise and careful to protect themselves against counterfeit goods by only buying at trusted shops that can display valid documents about the products. Under no circumstances should people choose fake items.

From December 15, 2023 to April 14, 2024, the market management force in Vietnam was able to detect and handle more than 15,500 cases of trading counterfeit goods, imposing different fines with a total value of VND171 billion ($6.72 million). This is a rise of 25 percent compared to this time last year. The confiscated goods are worth VND73 billion ($2.87 million) and the destroyed ones VND117 billion ($4.6 million).

IELTS certificate holders have their rights maintained: Ministry

The Education and Training Ministry yesterday provided more information on cooperation in organizing foreign language proficiency exams in Vietnam.

Performing the task of state management in education and training, the Ministry of Education and Training (MoET) has been tightening its inspection on partnerships with other countries to host foreign language proficiency exams to ensure the compliance with applicable laws as well as contestants’ rights.

MoET’s inspectors have recently presented its report on a number of units collaborating with international organizations to hold foreign language proficiency exams in Vietnam. Accordingly, before receiving MoET’s permit to organize such an activity, these units had already held various exams, which violates Decree No.86/2018/ND-CP by the Government and Circular No.11/2022/TT-BGDDT by the Minister of Education and Training.

Particularly, on May 8, MoET’s inspectors announced their conclusion over the case of IDP Vietnam Education Co. Ltd., sited at the address of 161-161A Hai Ba Trung Street in District 3 of HCMC. The conclusion clearly states that the act of IDP cooperating with IELTS Australia Pty Ltd to issue more than 56,000 certificates in 2022 was illegal because IDP only received a formal permit to carry out such an action from November 17, 2022.

However, as stated by IDP a day later, those certificates are still recognized by 12,000 organizations worldwide. IDP said that it is going to work with MoET to satisfy all of the latter’s requirements. Before this, many IELTS certificate holders expressed their deep concern over the validity of their papers when having been used last year or to be used for this year’s university admissions.

The Education Quality Management Agency under MoET released Dispatch No.889/QLCL-QLVBCC on June 9, 2023 on guiding the verification of foreign language proficiency certificates and Dispatch No.999/QLCL-QLVBCC on June 15, 2023 on the use of foreign language certificates to exempt foreign language tests in the 2023 high school graduation exam.

This means with verified quality, a foreign language proficiency certificate issued by a unit collaborating with an international organization is valid in compliance with MoET’s regulations on testing, admission, and training. The rights of test certificate holders are not at all affected.

In the upcoming time, the Education Quality Management Agency is going to work with functional agencies to increase their monitoring over activities of units cooperating with international organizations to offer foreign language training, to host foreign language exams, and to issue a foreign language proficiency certificate. This is expected to help detect law violations for prompt handling.

Fire burns 60ha of forest, sugarcane fields in Khanh Hoa Province

Over 15ha of production and protection forest plus 45ha of sugarcane fields in Ninh Hoa Town were on flame, and controlling the fire met much trouble.

At 6:00 a.m. on May 8, sub-zone No.59 (sited in Ninh Son Commune of Ninh Hoa Town) under the charge of North Khanh Hoa Forest Management Board burst into flame. Strong wind contributed to spreading the fire quickly. Due to the thick smoke and ash, the nearby sugarcane and acacia fields caught fire as well.

Receiving the urgent report, two fire engines immediately moved towards the site, carrying tens of firefighters to join hand with local forces to control this fire. However, owing to strong wind and extreme heat at the time, this fight was rather labor-consuming and challenging.

At 4:00 p.m. of the same day, the fire was basically under control.

Preliminary statistics show that about 15ha of 2-to-4-year-old forest under the responsibility of citizens were damaged, not to mention the one of the North Khanh Hoa Forest Management Board. Besides, about 45ha of sugarcane fields of nearby residents also endured severe damage.

Deputy Director Do Anh Thu of the Agriculture and Rural Development Department of Khanh Hoa Province said that the forest protection forces are still joining hand with local people to completely extinguish this fire.

The cause of the fire is being investigated by functional units.

Signs of importing about-to-hatch poultry eggs to circumvent law spotted

An inter-disciplinary meeting between the police and agriculture sector was held yesterday in Hanoi to discuss methods to stop smuggled poultry breeds.

Stressing the problem that farmers now frequently buy poultry breeds without clear origin, leading to unwanted financial damages or disease spreading, Deputy Minister of Agriculture and Rural Development Phung Duc Tien asked for more thorough handling of the trafficking of smuggled livestock and poultry.

SGGP News has repeatedly reported cases of smuggling poultry in the Northern border areas, mostly in Mong Cai City of Quang Ninh Province. Many trucks, when spotted, were transporting 1-to-2-day-old chickens and ducklings or seriously sick or dead ones.

Chairman of the Vietnam Poultry Association (VPA) Nguyen Thanh Son informed that some people have lately imported about-to-hatch poultry eggs to Vietnam as a way to circumvent the law for poultry breeds selling.

Chief Inspector of the Ministry of Agriculture and Rural Development Nguyen Truong Son affirmed that the applicable law stipulates the responsibility of the Department of Livestock Production (under the Ministry of Agriculture and Rural Development) in fighting against smuggling poultry and livestock. He explained that smuggling happens because of price gaps between the two regions.

The Environmental Crime Prevention Police Department (C05 – under the Public Security Ministry) supported the proposal to form an inter-disciplinary inspection team between the police and the agriculture sector to stop poultry and livestock smugglers, especially from China to Vietnam through the Northern border area.

Deputy Director of C05 Le Thom further reported that there are fishponds covering hundreds of square meters built just a few kilometers away from the border for fisheries smuggling. As to poultry, many ill-intention people take advantages of weaknesses in the current law to transport poultry eggs to Vietnam to sell as breeds later.

There are also warnings for the border areas in the Central and Southern regions about cases of smuggling cows and buffalos.

Therefore, C05 suggested that the Ministry of Agriculture and Rural Development direct localities to monitor the situation of poultry and livestock smuggling in their area more strictly. C05 is calling upon the cooperation of related businesses in timely informing functional units of illegal activities when they detect any.

HCMC inspects authorized foreign exchange agents

The State Bank of Vietnam-Ho Chi Minh City Branch (SBV-HCMC) has urged commercial banks to conduct inspections of their authorized foreign exchange agents and submit reports on the findings to the SBV-HCMC no later than June 15, 2024.

The SBV-HCMC has issued a letter requesting commercial banks and branches of foreign banks authorized to engage in foreign exchange activities within the city to conduct inspections of the authorized foreign exchange agents appointed by commercial banks.

Accordingly, commercial banks are required to inspect their authorized foreign exchange agents, covering compliance with legal regulations, adherence to foreign exchange agency contracts, identification of any existing limitations or misconduct, and the outcomes of any corrective actions taken.

The SBV has urged commercial banks to conduct these inspections on authorized foreign exchange agents appointed by banks to ensure compliance with regulations governing foreign currency transactions and the appropriate use of foreign currency, thus contributing to promoting the development of production and business activities, import-export, tourism, and services.

Simultaneously, commercial banks authorized to delegate foreign exchange agents must strictly adhere to all legal regulations regarding the delegation of authority to economic organizations to ensure that the appointed agents comply with legal requirements, adhere to contracts, and play a crucial role in stabilizing foreign exchange rates, the foreign exchange market, and socio-economic development.

Source: VNA/SGT/VNS/VOV/Dtinews/SGGP/VGP/Hanoitimes