|Sugar storehouse of Thành Thành Công Tây Ninh Joint Stock Company. - VNA Photo Lê Đức Hoảnh|Viet Nam News
HÀ NỘI — The Ministry of Industry and Trade (MoIT) has given permission to enterprises to import 89,500 tonnes of sugar by conducting an auction this year.
According to the ministry’s Circular 05/2017/TT-BTC released last Friday, companies directly using sugar as production materials, traders using raw sugar to produce refined sugar, as well as other relevant organisations, will be allowed to import sugar under the quota.
The auction will be carried out by a council, which was established to conduct pilot bidding in 2017. The principles, process and procedures will be implemented in accordance with the current laws and regulations on auctions.
The ministry will announce the auction results and send a document to traders who win the right to use the import quota.
The enterprises must then submit the document to the General Department of Vietnam Customs entrusted with the implementation of sugar imports.
Under a World Trade Organisation commitment, Việt Nam is required to open its sugar market by allowing imports every year.
Last year, the sugar import quota was set at 85,000 tonnes. — VNS