Vietnam News Network

Vietnam News: Local, National, Business, Sport, Entertainment and Technology

Trade LTCUSD, Bitcoin and Cryptocurrencies

BUY & SELL LTCUSD | View LTCUSD News & Updates

Buy Sell LTCUSD, Bitcoin and Cryptocurrencies

Licencing scheme driving businesses to re-export   2008-09-16 - Saigon Tiep thi

More businesses have expressed concern about the bad impacts of the automatic import licencing scheme, saying that they may have to re-export imports.


Businesses complain about automatic import licencing scheme


FPT Mobile now has two consignments of mobile phone sets (1.5 tonnes) which arrived six days ago and are being kept at Noi Bai and Tan Son Nhat airports. As soon as the imports arrived at the airports, FPT mobile submitted documents to the Import-Export Department under the Ministry of Industry and Trade to get import licences.


Nguyen Thi Bach Diep, Deputy General Director of FPT Mobile, said that she has to pay VND10mil at least for the storage fee. However, this is not worth worrying about, the most concerning thing is that FPT Mobile may not get the import licences.


This proves to be the worry of not only FPT Mobile, but of many other import companies as well. If they cannot get import licences, they will have to re-export the imports. But where do they re-export them to? Back to the exporters or to third countries?


Nguyen Quoc Bao, Director of Thanh Cong Mobile, said that it is really difficult to return imports. Meanwhile, Doan Hong Viet, Director of Digiworld, said that he cannot find suitable solutions. If he keeps waiting to get a licence, he will have to pay high storage fees. Meanwhile, he does not know where he could re-export his imports.


Importers are considering selling imports to businessmen in the region. They have calculated that they have to import 10 consignments to get profit enough to offset the losses they incur from one re-exported consignment.


Food importers prove to be the most concerned businessmen. TNT, director of an import company, said that food importers only have the option of throwing food into the sea if they cannot get import licences.


“No one dares to buy back food imports, or they only buy when prices are no more than 50% of the original prices,” he said.

Other news

BUSINESS IN BRIEF 16/9   2008-09-16

New fuel using ethanol launched in Hanoi   2008-09-16

Petrol firms permitted to set prices, diesel rate cut   2008-09-16

What’s behind SBV’s decision to raise the exchange rate?   2008-09-16

Real estate loans drop sharply in HCM City, rise slightly in Hanoi   2008-09-16

Power projects mushroom to end outages   2008-09-16

Building industry to be developed   2008-09-15

Catfish breeders get contract law   2008-09-15

Who protects gold investors?   2008-09-15

Vietnamese businesses optimistic about economy   2008-09-15

Property trading floors help lower prices   2008-09-15

BUSINESS IN BRIEF 15/9   2008-09-15

Agriculture yet to majorly benefit from State policies   2008-09-15

Dong Nai: Foreign-invested firm killing Thi Vai River   2008-09-15