Home / Economy / Trade - Service
Vietnam authority identifies 90,000 cases of trade fraud in 2019
Hai Yen 14:36, 2020/01/14
In 2019, the authorities were able to handle major cases of smuggling and selling of counterfeit products, a fact that was not possible in the past.

The Vietnam Directorate of Market Surveillance under the Ministry of Industry and Trade (MoIT) identified 90,000 cases of trade fraud and smuggling, and issued nearly VND670 billion (US$28.96 million) in fines in 2019, up 7,700 cases and VND180 billion (US$7.78 million) in fines year-on-year, the governmental portal reported.

 Overview of the meeting. Source: Vietnam Directorate of Market Surveillance. 

During the year, the agency collected nearly VND500 billion (US$21.61 million) for the state budget, confiscated goods and products worth over VND170 billion (US$7.34 million) and destroyed smuggled and faked goods worth over VND120 billion (US$5.18 million).

Tran Huu Linh, director general of the Vietnam Directorate of Market Surveillance, said at a meeting on January 13, that in 2019, the authorities were able to deal with major cases of smuggling and selling of counterfeit products, a fact that was not possible in the past.

These included two shopping malls selling fake products in Mong Cai city, Quang Ninh province; stores and production facilities of fake and low quality products of major world brands such as Dior, Louis Vuitton, Gucci, or cases of forging Vietnamese origin in Hanoi, Ho Chi Minh City and other provinces/cities; 3,108 wine bottles smuggled in Quang Binh province.

Linh, nevertheless, admitted the results remained modest compared to rampant trade fraud activities with growing complexity and scale.

Linh attributed limited resources and lack of understanding of intellectual property from the law enforcement authorities, among others reasons, to the current situation.

Moreover, the process of determining fake products which is time consuming and incurs high costs also affects the efficiency in operation of the market surveillance authority.

At the meeting, Minister of Industry and Trade Tran Tuan Anh requested the market surveillance authority should not limit its role in the domestic market and should protect compliant enterprises and customers, but also expand its operational scope internationally through cooperation, focusing on preventing origin fraud, trade fraud and cross-border smuggling.

Vietnam is currently named in the watch list of the Special 301 Report of the US Trade Representative, which identifies those who do not adequately or effectively protect and enforce intellectual property rights.

RELATED NEWS
TAG: Vietnam trade frauds market surveillance smuggling counterfeit
Other news
11:55, 2020/55/13
Vietnam posts record high monthly trade surplus of US$2.8 billion in July
Vietnam attained a trade surplus of over US$8.4 billion during the first seven months of this year, significantly higher than the surplus of US$1.8 billion recorded in the same period last year.
14:45, 2020/45/12
Vietnamese consumers prefer using cashless payments
The total value of cashless transactions jumped six times in the first half this year against the same period of 2019.
07:46, 2020/46/12
Acceleration of investment program helps Vietnam mitigate Covid-19 impacts
Vietnam's domestic economic rebound continued, albeit not yet at the pace of the pre-crisis level, stated the World Bank.
21:25, 2020/25/10
Vietnam’s EVFTA action plan focuses on industrial sectors, agriculture restructuring
Prime Minister Nguyen Xuan Phuc expected the soon ratification of International Labor Organization Convention No.87 on Freedom of Association and Protection of the Right to Organize.
09:48, 2020/48/07
Vietnam becomes second most optimistic country in Q2 2020: Nielsen
After one year, Job security overtook Health to become No.1 concern of Vietnamese consumers.
23:53, 2020/53/06
No place for inefficient enterprises in EVFTA: PM
The EVFTA is the EU’s “vote of confidence” of Vietnam's ongoing reform efforts, as well as the country’s strategic significance in the global stage, stated a EuroCham senior executive.