Binh Dinh Invest

Vietnam to Issue Online C/Os for Firms Nationwide in 2008

19 November 2007

The Vietnam Chamber of Commerce and Industry (VCCI) said that it will issue online certificates of origins (C/Os) for enterprises across Vietnam from 2008 as a move to boost the administrative reform.

VCCI has piloted granting C/O certificates to 50 firms in Hanoi since early this year, said Tran Thi Thu Huong, deputy head of VCCI’s Legal Department, adding that the chamber has organized 10 training courses on the matter for local 400-500 enterprises.

After completing C/O issuance in Hanoi, VCCI will expand the model into big cities of Ho Chi Minh City, Haiphong and Danang, and then cities and provinces across the country, she added.

The national E-commerce portal (ECVN) and the E-Commerce Department under the Ministry of Industry and Trade (MoIT) have jointly built E-certificate of origin issuing system (eCosys) since 2006, aiming to help local firms save time and reduce costs when seeking for C/O.

The building of eCosys also proves Vietnam’s efforts to fulfill commitments relating to non-paper trade by the country during the Asia Pacific Economic Cooperation (APEC).

According to MoIT’s recent report, only 8 per cent of Vietnamese enterprises use e-commerce in business, 55 per cent of which having participating in one or more transactions of this kind.

Up to 81.5 per cent of companies use email in business with partners. However, the rate of online payment still remains low at only 3.2 per cent of enterprises, mostly in Hanoi and Ho Chi Minh City. (Vnmedia)

Source: Vietnam Business Forum