This is a topic organized by the Vietnam Federation of Trade and Industry in collaboration with the Vietnam International Arbitration Center (VIAC) and leading universities, on the morning of October 27.
According to the Vietnam Federation of Trade and Industry (VCCI – Ho Chi Minh City), globally, the percentage of businesses that said they were victims of fraud and economic crime in 2018 was 49%; 2020 is 47% and 2022 is 46%. In which, fraud from outside accounts for about 43%; internal 31%; collusion between inside and outside accounts for 26%…
Mr. Vu Xuan Hung – Head of Legal Department of Vietnam Federation of Trade and Industry, Branch in Ho Chi Minh City informed at the conference. Photo: Tran Trung.
“In Vietnam, 52% of businesses participating in PwC’s survey said they experienced fraud or other economic crime in the 2 years prior to the time of the survey. Higher than 46% of Asia Pacific region and 49% of the world. Meanwhile, Vietnamese businesses have not paid much attention to anti-fraud measures. Also, not many Vietnamese enterprises want to report to the management agency because they are afraid that information will be leaked to the public,” said Vu Xuan Hung, head of the artillery department of the Vietnam Federation of Trade and Industry Branch in Ho Chi Minh City. Information HCM.
Lawyer Chau Viet Bac – Deputy General Secretary of the Vietnam International Arbitration Center shared at the conference. Photo: Tran Trung.
According to Lawyer Chau Viet Bac – Deputy Secretary General of the Vietnam International Arbitration Center (VIAC), Import-Export is a bright spot of Vietnam’s economy. , on average over 20%, import and export turnover in 2021 reached a record of $ 668.5 billion, up 22.6% compared to 2020.
Currently, Vietnam is also a very open economy, in the ASEAN region, Vietnam’s openness is only after Singapore, Vietnam’s total import and export turnover is now more than 200% of GDP… As Vietnam integrates more deeply, When businesses do business with more partners, go to a wider playing field with different rules of the game, the risk of disputes and fraud is also greater and more complicated. A typical example of a scam in international trade for Vietnamese businesses recently is the case of 76 grain containers of 5 Vietnamese enterprises exporting to Italy, which lost the original documents. Facing this situation, the VCCI Legal Department expressed its wish that experts, associations and the business community seriously consider this issue.
“The increasingly strong trend of opening up to international economic integration has opened up many trade opportunities for the Vietnamese business community. This is an opportunity to promote the export of Vietnamese goods to potential markets around the world, making our country a bright spot in the international economy. However, the bigger the “playing field”, the more risks are attached”, said Lawyer Chau Viet Bac – Deputy General Secretary of the Vietnam International Arbitration Center.
Mr. Bach Khanh Nhut – Standing Vice Chairman of Vietnam Cashew Association presented at the workshop. Photo: Tran Trung.
Mr. Bach Khanh Nhut – Standing Vice Chairman of the Vietnam Cashew Association said that up to this point, the case related to 76 containers of cashew nuts has been basically resolved. However, it is also a “lesson from experience” for cashew businesses in particular and Vietnam’s exporters in general.
Accordingly, the cause of being scammed is that Vietnamese enterprises trust too much in brokerage companies and do not check partner information. During the difficult time of the epidemic, having large orders makes it easy for businesses to be subjective because they want to sell goods; especially at a time when there are few transactions in the market. In addition, due to the risky payment method…
From here, Mr. Nhut said, in international business, the role of a broker is very important, but businesses need to have an independent check on partners. Here, the role of the Trade Office in the host country is very important.
Mr. Nhut recommended: “Need to be alert to unusual signs from partners; scammers often use very sophisticated tricks; safer payment methods should be used; should exchange information with colleagues to detect signs of fraud; need to quickly report, with the help of industry associations when the incident occurs; At the same time, enterprises need to be proactive and make efforts in solving their own cases”.
Economic experts participated in the seminar. Photo: Tran Trung.
According to the economic experts participating in the seminar, the biggest challenge of Vietnamese businesses today is that we do not have much experience in preventing, preventing and dealing with frauds and disputes. very likely to happen. Many businesses are not familiar with the business culture of each country, unfamiliar with partners, to the system of dispute resolution agencies and dispute resolution procedures. Many businesses are not familiar with common forms of commercial dispute resolution such as commercial arbitration and commercial mediation. Many businesses still rarely use lawyers regularly…
Economists predict that in the near future, the risk of international trade fraud will continue to increase. To prepare to respond, enterprises must first improve themselves and gain experience in preventing, preventing and dealing with frauds and disputes; familiarize themselves with the business culture of each country and partner as well as learn about the system of dispute settlement agencies and dispute settlement procedures of the country with which they have economic relations. Even more often, popular forms of commercial dispute resolution such as commercial arbitration and commercial mediation must be used more often.
Economic experts also said that the role of logistics enterprises is also very important because they not only help import and export enterprises carry out procedures to bring goods to sellers and buyers but also play a role. like a safety valve. Accordingly, if the buyer requires a specific bill of lading, when exporting, Vietnamese enterprises should use the master bill of lading and the secondary bill of lading. The master bill of lading is sent to the agent of the logistics enterprise and the secondary bill of lading is sent to the buyer’s bank.
Only when paying money to the bank, the buyer will receive the secondary bill of lading, the agent of the logistics enterprise will use the master bill of lading to receive the goods from the shipping company and then deliver to the buyer. Thus, if the buyer or someone only has a set of bills of lading, they cannot directly receive goods from the shipping company. Businesses need to grasp the principle that, in business, in addition to profits, risks need to be carefully considered. And to limit risks, the baggage that businesses need to equip when entering the integration process is very important to ensure safety and prestige in international economic and commercial transactions.
Source: Vietnam Agriculture Newspaper
