AEOs make great contributions to Vietnam’s trade development

	Making efforts to officially deploy the Mutual Recognition Agreement on AEO in ASEAN
	Extending AEO regime for Chang Shin Vietnam Co., Ltd

Samsung Group has many members that are applied the AEO program. Photo: T.Binh.

Contributing 1/3 of import and export turnover

According to the Post-Clearance Audit Department, by the end of September, the country has 76 AEOs.

Among them, 24 AEOs are Vietnamese enterprises, and the remaining AEOs are FDI enterprises from Korea, Japan, the United States, Denmark, and China, etc.

Luxshare-ICT Co., Ltd. (Van Trung) located in Van Trung Industrial Park, Viet Yen town (Bac Giang) is the latest enterprises to be recognized as an AEO from August 27, 2024.

Luxshare-ICT Co., Ltd. (Van Trung) is a Chinese FDI enterprise established in 2019.

After many times of increasing investment capital and expanding production scale, Luxshare-ICT Co., Ltd. (Van Trung) has created jobs for more than 32,000 workers, with a total project investment capital of up to US$520 million.

Since its establishment and operation, the Company has implemented more than 127,000 customs declarations, with a total import-export turnover of more than US$20 billion, contributing significantly to the local economic development.

Deputy Director of the Post-Clearance Audit Department Nguyen Sy Hoang, after more than 10 years of implementation, the AEO program has achieved positive results.

The program has made great contribution to socio-economic development, attracting foreign investment, enhancing the country's position in the international community and attracting the business community.

Notably, AEOs play a very important role in raising the scale and promoting the growth of the country's import and export turnover.

Currently, AEOS contribute about 35% of the total import and export turnover of the whole country.

Reforming management

According to the Post-Clearance Audit Department, the management for AEOs is implemented in the direction of reform, reducing administrative procedures, supporting and accompanying enterprises.

Specifically, automatic extension activities and appraisal activities for extension are effectively applied, limiting post-clearance audit at AEOs.

The General Department of Vietnam Customs (GDVC) has reformed the management such as issuing documents to rectify and guide enterprises to fully implement the responsibilities of AEOs.

The GDVC has built requirements for connecting and standardizing data on information exchange to serve the management of processing, manufacturing, and export production activities.

Additionally, the GDVC has made efforts to implement mutual recognition agreements on the AEO program.

Over 10 years of implementation shows that when participating in the program, the AEOs become trusted partners of the Customs. The two sides have shared the responsibility of ensuring security and safety of the goods supply chain.

When facilitating for AEOs as low-risk subjects, the Customs can devote more resources to inspect and supervise enterprises and goods with higher risks.