The Ministry of Industry and Trade has warned that businesses must carefully verify information on their business partners from the US before making deposits and payments or doing business.
Hanoi (VNA) - The Ministry of Industry and Tradehas warned that businesses must carefully verify information on their businesspartners from the US before making deposits and payments or doing business assome cases of fraud have been reported recently.
The Vietnamese trade counselor in Houston, Texas, receivedseveral requests from Vietnamese firms recently asking for support to tacklefraud they faced in doing business with US firms.
Some Vietnamese firms sent payments to banking accounts USfirms provided through emails but then found the accounts were falsified as theemail was hacked to appropriate money.
The trade counselor in Houston recommended that Vietnamesefirms verify their business partners’ information carefully, especially whenthere were any changes in address or banking accounts.
Vietnamese firms should also be wary of working with sketchycompanies such as those headquartered in Europe but with banking accounts inthe US.
For new business partners, careful verification ofinformation is of critical importance, the ministry said,urging Vietnamese firms to verify information through different channels.
They could contact associations to check the information oftheir members.
In addition, Vietnamese businesses can contact tradecounseling agencies in the US for support.
The Vietnamese trade counselor has three branches in the US,in Washington DC, Houston and San Francisco.
Vietnamese firms were also urged to select safe paymentmethods.
Last week, the ministry asked Vietnamese firms to check theinformation of Thai business partners carefully to avoid being swindled. -VNA
The International Trade Administration under the US Department of Commerce (DOC) has published a notice announcing that the department rescinded the administrative review of the antidumping duty order on certain steel nails from Vietnam for the period between July 1, 2016 and June 30, 2017.
Vietnam has filed a complaint to the World Trade Organisation (WTO) against the United States’ anti-dumping measures on Vietnamese fish export, said the Ministry of Industry and Trade.
The Customs Department of Ho Chi Minh City and the American Chamber of Commerce in Vietnam (Amcham) held a dialogue with the US business community in Ho Chi Minh City on January 24.
The new Government decree also simplifies loan procedures while expanding credit incentives to include organic and circular agriculture, allowing them to access preferential terms similar to those of high-tech and value-chain based agricultural production.
Developed with state-of-the-art infrastructure, the Da Nang FTZ is designed to become a leading regional economic centre and a strategic growth pole in Vietnam’s new development landscape.
The Binh Duong Association of Supporting Industries (BASI) is expected to promote the usage of domestically manufactured components while supporting businesses in accessing international markets, strengthening linkages, and promoting deeper integration into global supply chains.
PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Cashew being processed for export. (Photo: VNA) 
