The sequel to a $4.3 billion Chinese aluminum export hit in Vietnam

2019-11-05


Vietnam customs commissioner RuanWenJin (nguy ễ n v ă n c ẩ n) to Vietnam intelligence newspaper reporters, was found to be disguised as a Vietnamese goods ready to send to us $4.3 billion of China's aluminium products, was discovered by the Vietnam customs, mainland and cooperate with the United States department of homeland security (us customs) investigation, has now confirmed that have send away and now the amount of aluminum products inventory.

Mr. Nguyen pointed out that Vietnamese customs did not detain the $4.3 billion in aluminum products, but only blocked exports to the United States. It was also in Vietnam's national interest to stop the export of aluminum products to the United States that could not meet the requirements of the origin of Vietnam, and also to avoid a possible American investigation of the export destination Vietnam.

"We have found and stopped the huge amount of Chinese aluminum products that were fake Vietnamese, but they are not detained. The company has the right to sell them in Vietnam, but they have to pay all kinds of taxes," nguyen van gien said.

About specific conditions, the customs general administration of customs supervision bureau the handsome (Au anh tu ấ n) director pointed out that the enterprise of the aluminum products mainly imported 2015-2019, now the stock of about 1.8 million tons, is currently stored in enterprise to rent the warehouse, there are about 200000 tons are enterprise own factory and are normal production and export of aluminium products abroad. When it was found that the amount of imported aluminum products increased sharply in a short period of time, Vietnamese departments including the customs, the Ministry of Public Security and the ministry of industry and commerce began to investigate. "After investigation, it has been confirmed that the imported raw materials and processed products comply with the customs HS code, but there is still a risk of not meeting the requirements of circular no. 5 and resolution no. 31 on the issuance of certificate of origin if the procedures are compared with the certificate of origin."

At the same time, customs sources said that in 2016, the ministry of industry and commerce had organized inspection missions that showed that the company's products were exported not only to the United States but also to other countries with free trade agreements in Vietnam. The customs believed that there would be a risk of falsifying the origin to avoid tax, so the customs and other relevant departments launched an investigation.

As for whether the 1.8 million tons of aluminum products can be sold in Vietnam, ou said the company can digest the products in Vietnam, but it needs to pay the corresponding tax, and the legal level will not prohibit them.

Of course, if the company processes the products in Vietnam, it will adversely affect other companies in Vietnam.

In May 2016, global aluminum co., ltd. declared 1.5 million tons of aluminum from China to Vietnam for production and export, worth billions of dollars, after an investigation with the Vietnamese ministry of industry and commerce inspection team. Of course, in the end, a joint investigation by the ministry of industry and commerce, the customs department, found that the products coming in were aluminum profiles, lumps of aluminum.

May 2017: the Ministry of Finance, the ministry of industry and commerce and the ministry of investment planning of Vietnam entered the warehouse investigation of global company according to the guidance of Vietnamese deputy prime minister jeong ting yong to learn about the import of Chinese aluminum products into Vietnam. The inspected enterprise later submitted the petition form, which clearly indicated that the continuous inspection by various departments had seriously affected the normal operation of the enterprise. The company suggested that the investigation report of the General Administration of Customs be adopted as the only conclusion to clarify the situation of Chinese aluminum products entering Vietnam and hoped that it would not be inspected in the future. Since then, Vietnam has been issuing certificates of origin to all the products, which led to the batch of products being sealed in bonded warehouse for nearly three years. After the enterprise exports attempts to aluminum products to the United States after the discovery of the enterprises and other Vietnamese requests will be selling the goods into Vietnam, but the customs has no approval, waiting to be processed, until the last few days, the customs only said this product can be sold in Vietnam, the premise is to pay the relevant taxes. (From CCMN)