Standard Chartered revises down Vietnam’s  GDP growth forecast in 2024 to 6%

Standard Chartered revises down Vietnam’s GDP growth forecast in 2024 to 6%

Standard Chartered Bank has lowered Vietnam’s GDP growth forecast in 2024 to 6% from the previous 6.7% due to lower-than-expected Q1 growth and global trade headwinds.
Investor confidence gains traction on improved business climate

Investor confidence gains traction on improved business climate

Better investment climate, with simplified administrative producers and special incentives, has helped improve investor confidence, thus catalysing investments from a wider pool of both domestic and international investors for socio-economic development.
Vietnam

Vietnam's exports to Canada lead among CPTPP countries

VCN - Ms. Tran Thu Quynh, Commercial Counselor, Vietnam Trade Office in Canada shared with Customs Magazine about the picture of Vietnamese goods in Canada with a lot of potential that can be further exploited, and recommendations for businesses, along wi
Many new regulations aim to drastically remove the IUU "Yellow Card"

Many new regulations aim to drastically remove the IUU "Yellow Card"

VCN - Many new regulations against illegal, unreported, unregulated (IUU) fishing have been issued to help Vietnam complete the legal framework and soon remove the IUU "Yellow Card" in 2024.
PM chairs meeting of national committee for digital transformation

PM chairs meeting of national committee for digital transformation

Prime Minister Pham Minh Chinh chaired the eighth meeting of the National Committee for Digital Transformation on April 24, which aims to assess digital transformation efforts and development of the digital economy in recent times and discuss tasks and solutions for accelerating the work in 2024.
Seize the golden opportunity as retail giants look for supplies in Vietnam

Seize the golden opportunity as retail giants look for supplies in Vietnam

VCN - Although they have huge purchasing plans in the Vietnamese market, foreign retail giants also point out many limitations that Vietnamese manufacturers and suppliers need to improve in the near future.
Government’s action programme cracks down on illegal fishing

Government’s action programme cracks down on illegal fishing

A raft of measures to deal with illegal, unreported and unregulated (IUU) fishing is included in the Government’s freshly issued action programme as the country is striving to clamp down on illegal fishing, or else it will be hit by the European Commission (EC)’s warning card.
Ho Chi Minh City Customs: Creating strong changes from modern management methods

Ho Chi Minh City Customs: Creating strong changes from modern management methods

HCM City Customs Department expects to create strong changes in digital transformation from modern management methods.
An Giang Customs collects over VND 3 billion in tax debt

An Giang Customs collects over VND 3 billion in tax debt

VCN - The department said that the department collected over 3.1 billion in 90-day overdue tax debt in March of a local company.
Vietnam Customs actively promotes cooperation activities

Vietnam Customs actively promotes cooperation activities

VCN - Vietnam Customs has actively developed and proposed to competent agencies for approval of multi and bilateral cooperation projects, topics, and programs.
The General Department of Vietnam Customs strives to promote import and export growth

The General Department of Vietnam Customs strives to promote import and export growth

General Department of Vietnam Customs held an online briefing conference to evaluate the results of the first quarter of work and deploy the work program for the second quarter of 2024
A company must not  pay tens of billions of VND in tax arrears thanks to support by the Customs

A company must not pay tens of billions of VND in tax arrears thanks to support by the Customs

VCN - At the conference, Mr. Bao expressed his deep gratitude to Da Lat Customs Branch, Dak Lak Customs Department and the General Department of Vietnam Customs for their support to Dalat Hasfarm Company over the years.

Your care

Standard Chartered revises down Vietnam’s  GDP growth forecast in 2024 to 6%

Standard Chartered revises down Vietnam’s GDP growth forecast in 2024 to 6%

Standard Chartered Bank has lowered Vietnam’s GDP growth forecast in 2024 to 6% from the previous 6.7% due to lower-than-expected Q1 growth and global trade headwinds.
Vietnam seeks to remove obstacles in upgrade of securities market

Vietnam seeks to remove obstacles in upgrade of securities market

The State Securities Commission of Vietnam (SSC) recently held an online working session with the World Bank (WB) and the Asia Securities Industry and Financial Markets Association (ASIFMA) to discuss ways to remove obstacles related to criteria for upgrading the Vietnamese securities market.
Forum seeks to increase PPP investment effectiveness

Forum seeks to increase PPP investment effectiveness

Investment cooperation in the public-private partnership (PPP) form is seen as a strategic option to mobilise private investment and improve public service delivery. However, the implementation of PPP projects in Vietnam still faces a lot of difficulties and obstacles, leading to a low number of successful projects and making the private economic sector cautious.
Investor confidence gains traction on improved business climate

Investor confidence gains traction on improved business climate

Better investment climate, with simplified administrative producers and special incentives, has helped improve investor confidence, thus catalysing investments from a wider pool of both domestic and international investors for socio-economic development.
Price stability from supply increase and transparency in trading in gold market

Price stability from supply increase and transparency in trading in gold market

VCN - To stabilize the gold market, economic expert Prof.Dr. Tran Tho Dat, a member of the Prime Minister's Economic Advisory Group, said that it is necessary to implement solutions to make all transactions transparent in the gold market, implement electr
Talkshow: "Customs technology and the Next Generation of Customs Professionals"

Talkshow: "Customs technology and the Next Generation of Customs Professionals"

Good morning ladies and gentlemen, in the current period, the application of modern technology and digital transformation is one of the top priorities of the Government of Vietnam. In the Customs sector, Decision 628/QD-TTg dated 20/5/2022 of the Prime Minister approving the Customs strategy by 2030 sets the goal of completing Digital Customs by 2025. According, to develop digital Customs and smart Customs models, Vietnam Customs needs to apply new and smart technologies from customs administrations of advanced countries in the world.
Detecting 4.2kg of cocaine in the soles of slippers, the bottom of suitcases  transported by air

Detecting 4.2kg of cocaine in the soles of slippers, the bottom of suitcases transported by air

On June 1, 2023, Noi Bai International Airport Customs Branch discovered suspicious signs in the luggage of a passenger on a flight from Dubai to Noi Bai International Airport.
Vietnam Customs uses new uniforms  from April 1, 2022

Vietnam Customs uses new uniforms from April 1, 2022

According to the provisions of Decree No. 02/ND-CP dated January 7, 2021 of the Government on traditional flags, pennants and symbols, customs insignia, badges, nameplates, insignia, uniforms, customs identification and typical signs of means of customs patrol, control and supervision, from April 1, 2022, Vietnam Customs uses new uniforms.
Recommend businesses to use free customs declaration software

Recommend businesses to use free customs declaration software

The General Department of Vietnam Customs has just recommended businesses to the use of free customs declaration software to declare document from April 1, 2022.
The 389 National Steering Committees strengthen the fight against smuggling of tobacco and sugar products

The 389 National Steering Committees strengthen the fight against smuggling of tobacco and sugar products

Standing Deputy Prime Minister Pham Binh Minh, Head of the 389 National Steering Committees, has just directed the Ministry of Public Security and the 389 Steering Committees of the provinces and centrally-run cities, and the Standing Office of the 389 National Steering Committees on national security issues. anti-smuggling and trade fraud for tobacco and sugar products.
Ho Chi Minh City Customs: Creating strong changes from modern management methods

Ho Chi Minh City Customs: Creating strong changes from modern management methods

HCM City Customs Department expects to create strong changes in digital transformation from modern management methods.
Notice for businesses exporting watermelons to China

Notice for businesses exporting watermelons to China

Lang Son Customs Department recommends that businesses research regulations and plant quarantine requirements in Notice No. 184 dated December 15, 2023 of the General Department of Customs of China.
Import-export turnover across Lao Cai International Border Gate surges

Import-export turnover across Lao Cai International Border Gate surges

VCN - On April 22, Lao Cai International Customs Branch informed that as of April 15, the total trade in goods at the branch increased by 64% to US$ 382.4 million year-on-year.
Ta Lung Customs

Ta Lung Customs' revenue flourishes

VCN - The budget collection results of Ta Lung Border Gate Customs Branch in the first months of 2024 have flourished, making an important contribution to the state budget revenue of Cao Bang Customs Department.
Vietnam Customs actively promotes cooperation activities

Vietnam Customs actively promotes cooperation activities

VCN - Vietnam Customs has actively developed and proposed to competent agencies for approval of multi and bilateral cooperation projects, topics, and programs.
Five key northern local customs departments signed an emulation agreement

Five key northern local customs departments signed an emulation agreement

Five local customs departments belonging to Emulation Cluster No. 3 of the General Department of Vietnam Customs signed an emulation agreement, striving to complete assigned tasks.
PM requests to continue improving efficiency of digital transformation in customs

PM requests to continue improving efficiency of digital transformation in customs

VCN - Prime Minister Pham Minh Chinh has just signed a document requesting ministries, central and local agencies to continue to improve the efficiency of digital transformation in the customs field.
The General Department of Vietnam Customs strives to promote import and export growth

The General Department of Vietnam Customs strives to promote import and export growth

General Department of Vietnam Customs held an online briefing conference to evaluate the results of the first quarter of work and deploy the work program for the second quarter of 2024
Ho Chi Minh City Customs proactively applies IT in customs supervision

Ho Chi Minh City Customs proactively applies IT in customs supervision

VCN - To effectively monitor goods entering and exiting the warehouse, yard and port system in the management area, Ho Chi Minh City Customs Department has proactively applied surveillance using a camera system, increasing the screening rate.
Vietnam seeks to remove obstacles in upgrade of securities market

Vietnam seeks to remove obstacles in upgrade of securities market

The State Securities Commission of Vietnam (SSC) recently held an online working session with the World Bank (WB) and the Asia Securities Industry and Financial Markets Association (ASIFMA) to discuss ways to remove obstacles related to criteria for upgrading the Vietnamese securities market.
Price stability from supply increase and transparency in trading in gold market

Price stability from supply increase and transparency in trading in gold market

VCN - To stabilize the gold market, economic expert Prof.Dr. Tran Tho Dat, a member of the Prime Minister's Economic Advisory Group, said that it is necessary to implement solutions to make all transactions transparent in the gold market, implement electr
SBV takes more actions to stabilise foreign exchange rates

SBV takes more actions to stabilise foreign exchange rates

The State Bank of Vietnam (SBV) on April 23 took some moves like issuing treasury bills (T-bills), further employing T-bills as an open market operation (OMO), and stipulating liquidity and interest rates in the inter-bank market in the face of surging USD/VND exchange rates.
Proposal to exclude criminal liability for tax officials when businesses provide false information to refund VAT

Proposal to exclude criminal liability for tax officials when businesses provide false information to refund VAT

The revised Draft Law on Value Added Tax (VAT) also revises and supplements several contents to suit the actual situation, including some notable contents in VAT refund
Corporate bond maturity in 2024 remains high: MoF

Corporate bond maturity in 2024 remains high: MoF

The volume of corporate bonds maturing in 2024, though lower than that in 2023, is till at a high level, mostly in industries with payment risks such as real estate and renewable energy, according to a report by the Ministry of Finance (MoF).
Support clearance procedures for imported gold for bidding

Support clearance procedures for imported gold for bidding

The State Bank (SBV) has sent a document to competent ministries and branches requesting coordination in implementing the Prime Minister's direction in gold market management.
The exchange rate will gradually cool down from the end of the second quarter of 2024, while interest rates will remain low

The exchange rate will gradually cool down from the end of the second quarter of 2024, while interest rates will remain low

VCN - According to Vu Nhu Thang, Deputy Chairman in charge of NFSC, the economy in 2024 has more prospects than 2023 thanks to the strong promotion of public investment and specific policies to promote production activities, consumer economy, and investme
Majority of credit institutions forecast profit growth in 2024

Majority of credit institutions forecast profit growth in 2024

A total of 86.2% of credit institutions expect their profit this year to grow compared to 2023, according to the latest survey of the State Bank of Vietnam (SBV).
Central bank plans to auction gold bars on April 22

Central bank plans to auction gold bars on April 22

The State Bank of Vietnam (SBV) will auction SJC-branded gold bars on April 22, a representative of the central bank said on April 19.
Reporting to the National Assembly for considering VAT reduction in the second half of 2024

Reporting to the National Assembly for considering VAT reduction in the second half of 2024

The Government assigned the Ministry of Finance to summarize and evaluate the results of reducing VAT rates to report to National Assembly for consideration and allowing to implementing in the second half of 2024.
The Prime Minister requested that before April 25, complete the revision of regulations on import and export of medicinal materials

The Prime Minister requested that before April 25, complete the revision of regulations on import and export of medicinal materials

VCN - The Ministry of Health, according to its assigned functions, tasks and authority, presides and coordinates with the Ministry of Finance and relevant agencies to urgently review, research, amend and complete the Ministry's regulations on import and e
No need to reduce the output of manufacturing and assembling automobile to enjoy preferential tariff

No need to reduce the output of manufacturing and assembling automobile to enjoy preferential tariff

The Ministry of Finance has responded to the suggestions of VAMA regarding the adjustment of reducing automobile volume to apply a tax rate of 0% for imported components and spare parts used for manufacturing automobile
Hundreds of tons of cinnamon essential oil are left in inventory due to export regulations

Hundreds of tons of cinnamon essential oil are left in inventory due to export regulations

VCN - Enterprises exporting cinnamon essential oil are facing difficulties due to regulations on pharmaceutical trading of the Ministry of Health, leading to hundreds of tons of essential oil being left in stock in raw material areas.
Business suspension of temporary import and re-export of Monazite ores and ore concentrates will be valid on May 13th

Business suspension of temporary import and re-export of Monazite ores and ore concentrates will be valid on May 13th

The Ministry of Trade and Industry issued Circular 05/2024/TT-BCT regulating the temporary suspension of temporary import and re-export of Monazite ores and ore concentrates business.
Improving the customs legal system to be modern, synchronous, unified and transparent

Improving the customs legal system to be modern, synchronous, unified and transparent

This is one of the contents related to the Customs field recently reported to the National Assembly by the Ministry of Finance.
New points about rules of origin in AKFTA

New points about rules of origin in AKFTA

The Ministry of Trade and Industry promulgated Circular 04/2024/TT-BCT amending and supplementing some articles of Circular 20/2014/TT-BCT dated June 25, 2014 regarding rules of origin in AKFTA
It is necessary to build a national database on cross-border trade and transport

It is necessary to build a national database on cross-border trade and transport

Build a national database on cross-border trade and transport to store and share information to facilitate cross-border trade and transport as well as improve the efficiency and effectiveness of state management.
Removing difficulties in tax exemption and refund policies for export processing enterprises

Removing difficulties in tax exemption and refund policies for export processing enterprises

VCN - The Customs agency has received many proposals from businesses about answering and guiding policies on tax exemption, import tax and VAT refund for export processing enterprises. The General Department of Customs has responded and provided instructi
"Huge" drug lines and new disguise tricks

"Huge" drug lines and new disguise tricks

VCN - The subjects placed blenders, welding machines, presses, and empty battery cases from China to Vietnam for the purpose of storing drugs that are ground into powder in compressed battery cases and welding the lids at both ends to create finished prod
An Giang Customs collects over VND 3 billion in tax debt

An Giang Customs collects over VND 3 billion in tax debt

VCN - The department said that the department collected over 3.1 billion in 90-day overdue tax debt in March of a local company.
Noi Bai Customs: dealing with to drug crimes using high technology

Noi Bai Customs: dealing with to drug crimes using high technology

VCN - The tricks that trafficker use to illegally transport drugs via air and express delivery are increasingly sophisticated, complex, and constantly changing to bypass the Customs and management authorities.
Drastically suppress smuggling activities at sea

Drastically suppress smuggling activities at sea

Since the beginning of 2024, the Command of Coast Guard has implemented measures and promptly established a specialized project to fight against criminals, and criminal lines at sea.
Proposal to prosecute 7 subjects involved in trading illegal cigarettes on a large-scale

Proposal to prosecute 7 subjects involved in trading illegal cigarettes on a large-scale

Led by Chau Ngoc Anh Khoa, the subjects in the ring traded smuggled cigarettes and made a transaction of smuggled cigarettes with a total amount of hundreds of billions of dong.
Expand investigation for two smuggling cases

Expand investigation for two smuggling cases

VCN - The company declared to import used machinery, equipment, and spare parts worth over 4.6 billion.
Enhance the exchange of information on drug-related crime prevention and control

Enhance the exchange of information on drug-related crime prevention and control

The Anti-Smuggling and Investigation Department (GDVC) chaired and held a conference to exchange information between agencies specialized in preventing and combating drug-related crimes
Tinh Bien Customs seizes a large volume of unknown origin goods

Tinh Bien Customs seizes a large volume of unknown origin goods

VCN - Total value of infringing goods is about VND720 million.
Cau Treo Customs seizes 77 kg of fireworks

Cau Treo Customs seizes 77 kg of fireworks

VCN - Through the inspection, the enforcement force discovered 53 boxes of fireworks, weighing 77 kg.
Forum seeks to increase PPP investment effectiveness

Forum seeks to increase PPP investment effectiveness

Investment cooperation in the public-private partnership (PPP) form is seen as a strategic option to mobilise private investment and improve public service delivery. However, the implementation of PPP projects in Vietnam still faces a lot of difficulties and obstacles, leading to a low number of successful projects and making the private economic sector cautious.
Linking businesses with cooperatives to increase the value chain

Linking businesses with cooperatives to increase the value chain

VCN - According to experts, in value chain links, agricultural cooperatives both play a role in promoting links between farmer households through collective economic activities to organize production and promote vertical linkages with businesses along the
Vietnam has a trade deficit of over US$17 billion with China

Vietnam has a trade deficit of over US$17 billion with China

VCN - According to the latest statistics of the General Department of Customs, the import-export turnover between Vietnam and China in March reached US$ 16.32 billion, including Vietnam's exports achieved US$5.15 billion, imports reached US$11.17 billion.
Tra fish export to UAE jumps 67% in Q1

Tra fish export to UAE jumps 67% in Q1

Vietnam’s tra fish export to the United Arab Emirates (UAE) reached more than 7 million USD in the first quarter of this year, a rise of 67% against the same period last year, statistics of the General Department of Customs showed.
Pepper prices continue increase trend

Pepper prices continue increase trend

Pepper prices are forecast to soon exceed 100,000 VND per kilo on the domestic market.
More efforts needed to maintain export growth to China: Insiders

More efforts needed to maintain export growth to China: Insiders

Exporters should further strengthen trade connections and improve the quality of their goods to sustain export growth to China as this is no longer a "lenient" market, said insiders.
It is expected that there are higher orders and revenue in the second quarter from European businesses

It is expected that there are higher orders and revenue in the second quarter from European businesses

VCN - The Business Confidence Index (BCI) according to a survey by the European Business Association in Vietnam (EuroCham) reached 52.8 in the first quarter of 2024 - the highest level since 2022, showing increasing confidence in Vietnam's European busine
Vietnamese rice prices on the hike

Vietnamese rice prices on the hike

The prices of Vietnamese paddy and rice continued to increase last week, according to the the Vietnam Food Association (VFA).
FDI flow into garment and textile sector bounces back

FDI flow into garment and textile sector bounces back

The flow of foreign direct investment (FDI) into the Vietnamese garment and textile sector has rebounded thanks to the country’s sound investment climate and abundant workforce as well as its open economy, according to insiders.
Saudi customs receives global acclaim for two-hour clearance service

Saudi customs receives global acclaim for two-hour clearance service

Saudi customs has garnered global acclaim for implementing the two-hour clearance service at all the country’s ports.
Customs create safe environment for all procedures

Customs create safe environment for all procedures

VCN - Customs is keen to create a safe environment for all procedures that contribute to the field of customs work for the general interest and work in particular, said an official.
Hong Kong customs arrests 7 for laundering $1.8 billion

Hong Kong customs arrests 7 for laundering $1.8 billion

VCN - Codenamed “Daybreak”, the operation was linked to a mobile app scam in India and two jewellery companies, the Customs and Excise Department revealed at a press conference on Friday.
The Republic of Nicaragua accedes to the Revised Kyoto Convention as the 136th Contracting Party

The Republic of Nicaragua accedes to the Revised Kyoto Convention as the 136th Contracting Party

On 15 February 2024, His Excellency César Castañeda, Ambassador of the Embassy of Nicaragua to the Kingdom of Belgium and Mission to the European Union, deposited Nicaragua’s Instrument of Accession to the International Convention on the Simplification and Harmonization of Customs Procedures (as amended), commonly known as the Revised Kyoto Convention (RKC), to Ian Saunders, the Secretary General of the World Customs Organization (WCO), who serves as the depositary for the RKC. The ceremony took place at WCO Headquarters in Brussels, Belgium.
Bulgaria Announces Merger of Customs and Revenue Agencies

Bulgaria Announces Merger of Customs and Revenue Agencies

The Bulgarian Ministry of Finance has unveiled plans to consolidate the National Revenue Agency and the Customs Agency into a single entity, marking a significant step towards streamlining financial operations in the country.
Employing AI, ML in Customs and border management

Employing AI, ML in Customs and border management

VCN - The success of the 2023 Technology Conference and Exhibition of the World Customs Organization (WCO) co-hosted by The General Department of Vietnam Customs in Hanoi on 10th – 12th October 2023 has once again affirmed the important role of technology
Digital technologies in customs control

Digital technologies in customs control

VCN - The digital technology application plays an important role in the process of customs modernization, simplifying procedures, cutting time and costs for businesses, and improving the effectiveness and efficiency of state management.
Customs seize cocaine

Customs seize cocaine 'skilfully' disguised as wine

Hong Kong Customs has seized about 444 kg of suspected liquid cocaine with an estimated market value of about 490 million Hong Kong dollars (about 63 million U.S. dollars), representing a record seizure of liquid cocaine, the customs said Monday.
Abu Dhabi Customs Supports Inspection System with Smart Devices that Streamline and Expedite Goods and Passengers Movement in Al Ain Ports

Abu Dhabi Customs Supports Inspection System with Smart Devices that Streamline and Expedite Goods and Passengers Movement in Al Ain Ports

VCN - In line with its strategic plan and key priorities, the General Administration of Abu Dhabi Customs has completed a project to provide its land customs centers in Al Ain City with advanced inspection devices supported by artificial intelligence syst
Latest Most read
Standard Chartered revises down Vietnam’s  GDP growth forecast in 2024 to 6%

Standard Chartered revises down Vietnam’s GDP growth forecast in 2024 to 6%

Standard Chartered Bank has lowered Vietnam’s GDP growth forecast in 2024 to 6% from the previous 6.7% due to lower-than-expected Q1 growth and global trade headwinds.
Vietnam seeks to remove obstacles in upgrade of securities market

Vietnam seeks to remove obstacles in upgrade of securities market

The State Securities Commission of Vietnam (SSC) recently held an online working session with the World Bank (WB) and the Asia Securities Industry and Financial Markets Association (ASIFMA) to discuss ways to remove obstacles related to criteria for upgrading the Vietnamese securities market.
Forum seeks to increase PPP investment effectiveness

Forum seeks to increase PPP investment effectiveness

Investment cooperation in the public-private partnership (PPP) form is seen as a strategic option to mobilise private investment and improve public service delivery. However, the implementation of PPP projects in Vietnam still faces a lot of difficulties and obstacles, leading to a low number of successful projects and making the private economic sector cautious.
Investor confidence gains traction on improved business climate

Investor confidence gains traction on improved business climate

Better investment climate, with simplified administrative producers and special incentives, has helped improve investor confidence, thus catalysing investments from a wider pool of both domestic and international investors for socio-economic development.
Ho Chi Minh City Customs: Creating strong changes from modern management methods

Ho Chi Minh City Customs: Creating strong changes from modern management methods

HCM City Customs Department expects to create strong changes in digital transformation from modern management methods.
The General Department of Customs proactively implemented many budget collection solutions right from the beginning of the year

The General Department of Customs proactively implemented many budget collection solutions right from the beginning of the year

Vietnam-Indonesia trade achieves about US$ 14 billion

Vietnam-Indonesia trade achieves about US$ 14 billion

Improving the legal corridor in anti-smuggling work

Improving the legal corridor in anti-smuggling work

MoF issues digital transformation assessment indicators

MoF issues digital transformation assessment indicators

HCM City’s revenue drops over VND 19,000 billion

HCM City’s revenue drops over VND 19,000 billion

The General Department of Customs proactively implemented many budget collection solutions right from the beginning of the year Vietnam-Indonesia trade achieves about US$ 14 billion Improving the legal corridor in anti-smuggling work MoF issues digital transformation assessment indicators HCM City’s revenue drops over VND 19,000 billion
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