Entries by AmCham Vietnam

Guarantee for customs clearance to be piloted in 2021-22

The execution of guarantee for customs clearance will be piloted in 2021-22 in an effort to enhance trade facilitation, a customs official said. Mai Xuân Thanh, Deputy Director of the General Department of Customs, said the project was in its draft stage. The implementation of guarantee for customs clearance would be divided into three phases: pilot implementation in 2021-22, expansion in 2022-23 and official implementation from 2024, Thanh said.

New North America trade pact to have ‘moderate’ positive effect: US report

The North American trade pact signed last year will have a “moderate” positive effect on the US economy, an independent US government report said Thursday, an underwhelming endorsement as it faces an uncertain path to ratification. And the trade deal could actually dent the US auto sector, increasing employment but raising prices while reducing sales and manufacturing output, according the US International Trade Commission.

Joining in global value chains helps improve firms’ brand names

Global value chains were an indispensable way for local firms to build and develop brands, said Le Hoang Tai, deputy director of the Vietnam Trade Promotion Agency (VIETTRADE). Tai told the conference that international trade had seen the establishment of global value chains with active participation of not only developed countries but also developing ones and emerging economies.