Vietnam Uncovers over 130,000 Trade Frauds in 2007

Vietnam’s market watchdogs discovered 130,787 trade frauds in 2007, the Central Steering Committee for Anti-Trafficking, Counterfeit Goods and Trade Fraud (Committee 127/TW) announced at a recent meeting in Hanoi.

 

The committee, however, has not revealed an exact comparison with the previous year.

 

Fines collected and the value of the confiscated goods added to the State budget some VND1.28 trillion (US$80 million).

 

Cigarettes, wines, mobile phones, medicines, cloth and precious metals were among the key illegally imported goods while coal, wild animals, ore and petroleum were the main illicit exports during the time.

 

Speaking at the meeting, Colonel Bui Van Ha, Vice Director of Economic Criminal Investigation Department (PC 15) said anti-smuggling activities are facing difficulties due to lack of fund, elaborating that PC 15 receives only VND800 million (US$50,000) annually from the State budget. (Investment)