VIETNAM

Logistic and forwarding services in Vietnam

Viet Nam

Capital City
Hanoi

Population
92,5 Mio.

National languages
English, Vietnamese.

Currency
Dong (VND)

Gross national product (GNP)
USD 171,39 Mrd

GNP per person
USD 1.911

Financial exports to Switzerland
CHF 337,60 Mio.

Financial imports from Switzerland
CHF 695 Mio.

Bilateral relations Switzerland–Vietnam

Switzerland is supporting the transition and development process in Vietnam. Although an emerging nation in economic terms, its trade with Switzerland is continuously increasing. Vietnam’s wish to strengthen bilateral relations was underlined by the opening of an embassy in Bern in 2000.

Economic cooperation

Since the beginning of 2011, Vietnam has been regarded as an emerging nation. There has been a sharp increase in bilateral trade between Switzerland and Vietnam since the Asian crisis of 1998. The trade volume between Switzerland and Vietnam was approximately CHF 1.03 billion in 2013. EFTA and Vietnam have been negotiating a free trade agreement since 2012.

 

Business language

English, Vietnamese.

Dimensions and weights

Metric system.

Currency

National currency Dong (D) = 10 Hào = 100 Xu. Currency not convertible.

ISO code: VND

Customs tariff

Harmonised system.

Import control

Import licences have largely been abolished with the exception of a few special exceptions such as motorcycles, medicinal products etc. There are bans on the import of goods such as weapons, munitions, used goods (e.g. textiles, electronics, medical devices etc.), vehicles (more than five years old) and toxic chemicals. Consumer goods, particularly luxury goods, are subject to high import duties.

In turn, machines and equipment, raw materials and semi-finished products for industrial production are subject to lower import duties, particularly if they cannot be obtained or manufactured in the country itself. There are still some import quotas. Only importers with a business permit may import goods. They must also be registered with the customs authorities.

Standard VAT rate: 10%

Approval from the state bank is required for payments.

Contact via: State Bank of Vietnam, Foreign Exchange Management Department, 49 Ly Thai To Street, VN-Hanoi, Tel.: +84 4 39343340

Terms of payment and tenders

Irrevocable letters of credit to your own bank on confirmation of the order. Invoices in USD or another convertible currency. Tenders based on FOB or CIF (international consignment note) are standard. Clearance is made more difficult by a 100% cash deposit obligation on the importer. Tenders in a factual, technical form, long-term aspects (e.g. offers of training and maintenance) can be advantageous.

Designations of origin

Certificates of origin are not essential but where they are requested the bill of lading date must be identical to the date of issue. The following is to be indicated for goods originating from Swiss: “Swiss”.

Marking/labelling

Labelling boxes with the country of origin is recommended. Labels on goods intended for sale on the Vietnamese market must include a precise description of the goods, the country of origin, the name and address of the retailer responsible, information about the quality, the production and expiry date, information on the composition and instructions for use and servicing. Note: designations such as South Vietnam and North Vietnam are no longer permissible. The official country name should be used instead: “Socialist Republic of Vietnam” or “République Socialiste du Vietnam”.

Packaging

It is important to ensure that packaging is robust and weatherproof. The regulations of the IPPC standard ISPM no. 15 apply for wooden packaging materials.

Product samples

Samples with no retail value are duty free.

Shipping and accompanying documents

a) Commercial invoices, 2 copies in English, all standard information including a precise description of the goods. The following declaration of origin and price is to be signed by the exporter in a legally binding manner (in accordance with the commercial register) and must appear at the end of the invoice: “We herewith certify that the mentioned goods in this invoice have been manufactured in … and that the origin is at there as well as the indicated prices are the current export market prices”.

b) Certificates of origin only on request.

c) Postal items up to 31.5 kg: 1 international dispatch note, 2 customs declarations in English, 2 commercial invoices as for a) and b) (currently no parcel transport).

d) It is expedient to include packing lists for all types of shipment (numbers, packages, gross and net weight, contents).