Vietnam · Country watch
Vietnam Cracks Down on Counterfeits, USD Weakens
Vietnam intensifies anti-counterfeit measures; USD weakens, affecting trade and finance.
The picture Mixed
Business conditions in Vietnam are mixed today. Anti-counterfeit measures intensify, impacting retail and logistics. The USD weakens, affecting trade and finance.
In this briefing Ministry of Industry and Trade (Vietnam) · USD · Vietnamese dong · Ngo Manh Khoi · Vietnam Trade Office in Argentina
Regulation
Vietnam tightens crackdown on counterfeits
Vietnam's government has ordered a tougher crackdown on counterfeits and intellectual property theft, according to VietnamPlus. Authorities will target suspect transport routes, warehouses, distribution centres, and e-commerce platforms to combat the issue. The Ministry of Industry and Trade is also tightening 'Made in Vietnam' criteria to prevent trade fraud. Nearly 68,000 cases of smuggling, trade fraud, and counterfeit goods were uncovered in the first half of the year.
Impact Retailers and logistics firms face stricter scrutiny, impacting operations and compliance costs.
Sources: VietnamPlus ↗, Vietnam News Economy ↗
Disruption
Nothing significant reported today.
Internal tension
Nothing significant reported today.
Safety & health
Nothing significant reported today.
Companies
Nothing significant reported today.
Markets
USD weakens against dong, impacting trade
The USD weakened against the Vietnamese dong, with banks reducing the exchange rate for the USD and other major currencies, Thanh Nien Kinh tế reports. This comes despite the USD reaching a two-month high in global markets. The currency fluctuations are affecting trade and finance sectors, as businesses adjust to the changing exchange rates.
Impact Exporters and importers face exchange rate adjustments, impacting pricing and profit margins.
Sources: Thanh Nien Kinh tế ↗
Trade
Argentine businesses eye Vietnam market
Argentine businesses are looking to expand into the Vietnamese market, citing Vietnam's strong growth and extensive free trade agreement network, according to VietnamPlus. At a seminar, Ngo Manh Khoi, Head of the Vietnam Trade Office in Argentina, highlighted cooperation opportunities for Argentine firms. The focus is on leveraging Vietnam's role in regional supply chains to enhance trade and investment ties.
Impact Vietnamese manufacturers and agricultural producers may see increased trade and investment from Argentine firms.
Sources: VietnamPlus ↗, Vietnam News Economy ↗, VietnamPlus ↗
Politics
Nothing significant reported today.
Also today in Vietnam
- Vietnam-Malaysia trade eyes 20 billion USD milestone — VietnamPlus
- Exhibition showcases historical, legal evidence of Vietnam’s sovereignty over Hoang Sa, Truong Sa — VietnamPlus
- Party General Secretary and President meets with major businesses in Canada — VietnamPlus
- Giá vàng SJC giảm gần 2 triệu đồng/lượng sau 1 tuần, còn nhiều áp lực giảm — Dan Tri Kinh doanh
- VN-Index rebounds despite low liquidity — Vietnam News Economy
- Reference exchange rate rises 6 VND on September 25 — VietnamPlus
- Châu Âu chạy đua ứng phó khủng hoảng giá xăng dầu — VnExpress
- Legal proceedings launched against four Chinese nationals over cigarette smuggling — VietnamPlus
Sources in this briefing
Sources: each headline links to the original article on the publisher's site.
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