Wednesday, November 14 2018

VietNamNews

Exporters yet to apply for priority treatment

Update: June, 03/2014 - 09:30
An exporting enterprise can earn the priority status if it has yearly export value of at least US$200 million.— Photo tienphong

HA NOI (VNS)— Few Vietnamese exporters have applied for Authorised Economic Operator (AEO) status, which would allow them to benefit from expedited customs procedures.

Vice head of Post-Customs Clearance Examination Department under the Viet Nam General Administration of Customs Le Thu said that in 2011, Viet Nam started allowing certain businesses to be prioritised during customs procedures. These businesses would have to submit fewer documents to customs offices and undergo fewer tests and inspections.

An exporting enterprise can earn the priority status if it has yearly export value of at least US$200 million.

Enterprises specialising in exporting farming products, aquaculture products, textiles or footwear with yearly export value of at least $50 million are also eligible for the title.

A hi-tech enterprise recognised by the Ministry of Sciences and Technology can receive the status regardless of export value.

So far, 16 enterprises have gained prioritised enterprise status: ten foreign direct investment companies and six domestic ones. Their export value last year was over US$40 billion, accounting for 25 per cent of the total export value of Viet Nam.

Thu said that while many companies met the criteria, most—especially textile and footwear companies— were not ready to apply for the prioritised status.

Foreign enterprises usually had better accounting and internal auditing practices, so they were more prepared to apply.

She said that this year, Customs General Administration planned to recognise nine enterprises as prioritised enterprises.

It would also review preferential procedures to match with the newly-launched Viet Nam Automated Cargo and Port Consolidated System/Viet Nam Customs Information System (VNACCS/VCIS).

Thu suggested that Viet Nam expand the programme's scope so that more enterprises could qualify. She also recommended that the country pursue mutual recognition agreements with foreign countries so Viet Nam-based AEO firms could benefit from customs priorities in those countries. — VNS

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