Vietnam deputy PM urges broader trade markets and tighter fraud controls

Vietnam’s Standing Deputy Prime Minister Pham Gia Tuc urged ministries and agencies on November 3 to develop practical measures to diversify trading markets and prevent cross-border trade violations, as they discussed a draft government resolution in Hanoi.

Tuc said the proposed resolution should tackle urgent problems through measures that could take effect immediately after issuance. He asked officials to review its scope and content so that trade governance addresses both surpluses and deficits, while responding promptly to tariff and other trade issues.

Deputy Minister of Industry and Trade Luong Hoang Thai said his ministry had prepared the draft with other agencies. The proposed plan covers balanced trade, excess-capacity risks, trade circumvention, illegal transshipment and controls on goods made with forced labour.

Its seven groups of tasks include closer scrutiny of foreign investment projects carrying trade-fraud risks and stronger checks on the origin of goods. It also proposes facilitating imports of machinery, equipment, technology and other goods consistent with economic development needs.

Other proposals include seeking additional export markets, making fuller use of existing free trade agreements and providing businesses with early warnings and support on international trade rules. The draft also calls for stronger coordination between agencies, greater data sharing and a review of relevant laws.

Ministry and agency representatives broadly supported the need for a resolution but sought clearer targets and responsibilities. They said tighter oversight should not obstruct legitimate business, and requested clearer definitions separating trade circumvention and illegal transshipment from lawful transport and transit.