Containers at Hai Phong Port. (Photo: VNA) The Ministry of Industry and Trade cited statistics that scams inthe global market cost enterprises an estimated 5% of revenue per year, withdamages averaging 1.7 million USD per case.
As most are small or medium size, Vietnamese enterprises face highrisk of scams and disputes, while their experiences in avoiding and dealingwith such cases are limited, he said. Many are not familiar with commercialdispute resolution forms such as arbitration and mediation.
Tran Thu Quynh, Trade Counsellor of Vietnam in Canada, said thatfrom the beginning of 2023, the Canadian market saw a rapid increase in thenumber of fraud cases, averaging 10 a month, mostly relating to requirementsabout non-existing certificates.
The global market is currently in difficulty, orders are dropping,forcing enterprises to increase search for orders. When getting an order,enterprises tended to be subjective and did not pay adequate attention todrafting contracts, Quynh said.
Fraudsters approached Vietnamese businesses by sending messagesand emails for inquiries of large orders. When Vietnamese businesses asked fordeposits, fraudsters require some certificates which do not exist and askVietnamese firms to pay a small sum for consultancy services to gain thesecertificates.
Vu Chien Thang, Trade Counsellor of Vietnam in Spain, said thatthe trade office provided support for domestic exporters in handling sevencases of fraud during the past three years, including cases related to cashewnuts, black pepper, and iron.
The psychology of wanting to sell immediately leads tounfavourable negotiations and terms in contract, he said.
Thang urged exporting firms to work with trade offices to verifytheir partners before signing contracts.
Careful negotiations for contract terms are important, especiallydeposit and payment methods, he said.
According to Duong Phuong Thao, Vietnam's Trade Counsellor inItaly, frauds are diverse in forms and firms must be very cautious. Enterprisesshould consider using legal consulting services throughout the entire processrather than just approaching them when a dispute occurs.
Hoang Thi Lien, Chairwoman of the Vietnam Pepper Association, saidthat notices and warnings of trade counsellors should be updated regularly on aunified, specific channel.
A set of reference rules on deposit levels and payment methodsshould be developed for enterprises to refer to when negotiating contracts.
Besides, commercial banks should provide support to domestic firmsto ensure safety in international trade transactions, she said.
Chien said the ministry would continue to provide market updatesand early warnings to industry associations and enterprises about emergingforms of fraud in international trade./.
VNA
