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Vietnamese government tightens origin control for Chinese products with Vietnam-made labels
Vietnam's authorities will step up precautions against counterfeiting of origin for Chinese products that are illegally labeled with Vietnam due to heightened tensions in US-China trade.
The Customs and Tariff Bureau of Vietnam has instructed the customs departments of states and cities across the country to strengthen the inspection of the origin of imported goods, especially for imported goods from China, in accordance with the rules of origin regulation and product labeling. ..
The Ministry of Internal Affairs and Communications said it is necessary to verify that the product name, place of origin and code match the information provided on the import application and certificate of origin.
If a Chinese-made product with a Vietnamese-made label is found, the local customs authorities will identify the product, promptly deal with fraudulent activities such as illegal transactions and the manufacture of counterfeit products, and the Vietnamese government decree 185 / You need to be fined according to 2013.
Forged certificate of origin Made in China imported into Vietnam
Due to the intensifying trade disputes between the United States and China, forgery of origin illegally labeled with Vietnam has raised concerns among experts. Counterfeiting of origin is done to benefit from the high tariffed Chinese products that are brought to the US market. As a workaround, a method of bypassing poor countries such as Vietnam, Cambodia and Indonesia and deceiving the place of origin is used.
According to the Vietnam Timber and Forest Products Association, some Chinese companies have already seen signs of counterfeiting the origin of timber products, and these caught companies are using Vietnam as a transshipment site to avoid tariffs for US exports. I am reporting that it was.
The Ministry of Industry and Trade of Vietnam has warned Vietnam's timber and woodwork importers and exporters to adhere to the certificate of origin regulations and prevent Vietnam from being involved in these counterfeits. The use of Vietnam as a counterfeit of origin warns that it will undermine Vietnam's national credibility.
Chinese companies struggle to transfer production bases to Vietnam
"The transfer of trade routes from China takes place faster than capital transfers," said Nguyen Minh Cuong, an economic expert at the Asian Development Bank. "Chinese companies and foreign-affiliated companies based in China are spending a lot of time moving their production bases to Vietnam," said a person in charge of the Haiphong Industrial Complex in northern Hanoi.
According to data from the Vietnam Bureau of Statistics, of the 51 foreign-affiliated companies licensed in Vietnam in April 2019, Chinese are the largest investors with capital of over US $ 1.3 billion. It accounted for 24.6% on a newly registered capital basis. The second foreign investor was Singapore, which accounted for 13.1% of the total US $ 700 million.
Production base transferred to Vietnam due to the influence of the US-China trade war
This time, we have reported the news of the detour method of the trade route due to the US-China trade war. Beyond trade, many global companies are accelerating the transfer of production bases from China to Vietnam. Maybank, a major financial institution in Singapore, also mentions this trend.
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