More measures are needed in the fight against trade fraud and illegal cross-border smuggling between Vietnam and other countries, which continues to be a problem, the General Department of Customs has said.
Asanzo has ceased all operations after suffering losses of VND70 billion ($3 million) following allegations it was selling Chinese imports as Vietnamese products.
‘Made in Vietnam’ products are required to have a localisation rate of 30 per cent and be partly produced in Vietnam.
Vietnam has vowed to prevent and discover origin fraud in an effort to protect domestic production.
In addition to having a localization rate of 30%, made-in-Vietnam products are required to be partly produced in Vietnam, not just basic processing.
Vietnam has no regulations on criteria for goods to be labeled ‘made in Vietnam’, so consumers have no basis to distinguish ‘made in Vietnam’ and foreign-made products.
The move aims to systematize the standards and conditions for a product to be labeled as “Made in Vietnam” or of Vietnamese origin.
VOV.VN - The import of electronic items and components, and computers from China experienced sharp annual growth of 80.8 per cent to reach US$5.05 billion during the first five months of 2019, according to Vietnam Customs.
Electronic products from Asanzo Vietnam, known as an electronics manufacturer supplying high-quality Vietnamese products in the local market, have been discovered to be Chinese goods being sold as Vietnamese products.
VOV.VN - Asanzo Group is to become the main sponsor of the Vietnamese National Football Second League for the 2019 season.
Vietnamese businesses are still pursuing ambitious plans to make mobile phones and compete with foreign giants in the home market.
The household appliance industry in Vietnam has great potential, but fierce competition is expected to occur among producers, distributors and retailers.
The Vietnamese attitude towards BPhone, a mobile phone brand from BKAV, and VinFast, an automobile brand from Vingroup, are quite different, though both are Vietnamese products.
VOV.VN - Asanzo Vietnam Electronics Joint Stock Company has announced it has recently signed a deal with VietinBank to finance the construction of new production facilities and for research and development.