VAFIE proposes new circular on rules of origin under EU-Vietnam FTA
The Vietnam’s Association of Foreign Invested Enterprises (VAFIE) on Friday proposed the Ministry of Industry and Trade promptly issue a new circular on the rules of origin in the EU-Vietnam Free Trade Agreement (EVFTA) to facilitate trade and supply chains.
A sea port in Vietnam. Photo courtesy of Tasetco.
At a working session with the ministry’s Agency of Foreign Trade (AFT), VAFIE vice chairman Nguyen Van Toan said on August 23, the association submitted a document to the Ministry of Industry and Trade (MoIT) proposing the prompt issuance of a circular amending or replacing Circular 11/2020/TT-BCT regarding the rules of origin in the EVFTA.
The document highlighted that on June 8, 2022, the Ministry of Finance issued Circular 31/2022/TT-BTC on the list of export and import goods in Vietnam, effective from December 30, 2022. This list aligns with the Harmonized System (HS) 2022 list issued by the World Customs Organization (WCO).
To revise the rules of origin in the EVFTA to reflect changes in HS codes, the government assigned the MoIT to develop a circular amending Circular 11 to make it align with EVFTA requirements and Circular 31.
However, there has been no update on the process of amending Circular 11 to date, leaving companies exporting to the EU uncertain about applying the regional value content (RVC) or the change in tariff heading (CTH) due to discrepancies between HS codes for exported finished goods and raw materials (HS 2022) and those in Circular 11 (HS 2017). Companies fear that incorrect application could lead to penalties and retroactive payments related to origin certificates.
VAFIE said many firms have temporarily halted their C/O applications for EU exports, impacting their business as European partners are unable to benefit from preferential tariffs under the EVFTA. Some others have adjusted their business plans, paused EU exports, and sought alternative markets while waiting for the amended circular, it added.
In response, Tran Thanh Hai, deputy director of the Agency of Foreign Trade (AFT), said that since Circular 11 was in effect four years ago, some issues have arisen regarding unclear regulations and challenges in implementation.
The trade ministry is currently working with EU partners to draft a new circular amending Circular 11 to better align with practical needs and both parties' regulations, he noted.
According to Hai, the authority hopes to complete the draft new circular by the end of October 2024, which will be posted online for feedback from relevant agencies and business associations. It is expected to be issued after the Lunar New Year in 2025 (February).
The EVFTA was signed in June 2019, and then ratified by legislative bodies on both sides. It took effect in August 2020.
Vietnam’s exports to Europe surged from €35 billion ($37.9 billion) in 2019 to over €48 billion in 2023. Growth was particularly pronounced in electronics, textiles, footwear, agriculture and seafood. The increase in EU exports to Vietnam in the same period was far more modest – from €11 billion to €11.4 billion, official data shows.
VAFIE is the parent entity of The Investor (www.theinvestor.vn).
- Read More
Vietnam, Finland firms sign multiple MoUs on satellite, cybersecurity, aviation partnerships
A series of cooperation agreements were signed between Vietnam and Finland on Tuesday, within the framework of Party chief To Lam's official visit to Helsinki, while bilateral relationship was lifted to a "strategic partnership".
Economy - Wed, October 22, 2025 | 12:43 pm GMT+7
Trung Nam Ca Na seeks to convert agri-forest land for $147 mln industrial park in central Vietnam
Industrial park developer Trung Nam Ca Na is seeking approval to convert about 170 hectares of agricultural and forest land for the construction of a VND3,875 billion ($147 million) project in Vietnam’s central coastal province of Khanh Hoa.
Industrial real estate - Wed, October 22, 2025 | 10:54 am GMT+7
PV Power's arm posts 5-fold jump in Q3 profit on margin recovery
PetroVietnam Power Nhon Trach 2 JSC (HoSE: NT2) reported a sharp rebound in third-quarter earnings as improved margins and higher revenue lifted profits nearly fivefold from a year earlier.
Companies - Wed, October 22, 2025 | 8:37 am GMT+7
TCBS overtakes SSI to become Vietnam’s largest securities company by market cap
Over 2.3 billion shares of Techcom Securities JSC (TCBS) debuted on the Ho Chi Minh City Stock Exchange (HoSE) on Tuesday. The stock, TCX, recorded the highest price and the largest market capitalization in the Vietnamese securities sector.
Finance - Tue, October 21, 2025 | 10:27 pm GMT+7
Indonesia’s palm oil industry becomes investment magnet
Indonesia’s palm oil sector attracted IDR52.7 trillion, or approximately $3.2 billion, in investment during the first nine months of this year, with the money going into enabling the country to capture more value out of its top commodity, the country’s Ministry of Investment reported.
Southeast Asia - Tue, October 21, 2025 | 9:34 pm GMT+7
Indonesia reports strong job, investment growth
The Indonesian Coordinating Ministry for Economic Affairs reported strong job and investment growth during the first year of President Prabowo Subianto’s administration, compared with the first year under his predecessor.
Southeast Asia - Tue, October 21, 2025 | 9:29 pm GMT+7
Singapore grants conditional approval for 1GW low-carbon power import from Malaysia
Singapore has granted conditional approval to import 1 GW of low-carbon electricity from the Malaysian state of Sarawak, marking a new phase in the energy partnership between the two countries.
Southeast Asia - Tue, October 21, 2025 | 9:26 pm GMT+7
Margin lending in Vietnam’s stock market hits record, but not worrisome
Despite margin debt in Vietnam’s stock market surging sharply, experts believe that current margin pressure is not yet a major concern as top securities firms have significantly strengthened their capital buffers.
Finance - Tue, October 21, 2025 | 4:23 pm GMT+7
Lenders in Vietnam now in low-rate lending race: ACB exec
The biggest “headache” for banks in Vietnam now is that profit margins are getting thinner, said CEO of Asia Commercial Bank (ACB) Tu Tien Phat.
Banking & Finance - Tue, October 21, 2025 | 4:00 pm GMT+7
PV Gas - 35 years of innovation and technological leadership in Vietnam’s gas industry
Over the past 35 years of establishment and development (1990-2025), PV Gas, a subsidiary of state-owned giant Petrovietnam, has affirmed its pioneering position in Vietnam’s gas industry, marked by a series of groundbreaking achievements in science and technology.
Companies - Tue, October 21, 2025 | 3:45 pm GMT+7
Vietnam's consumer finance major F88 achieves 90% of year's profit target after 9 months
F88 Investment JSC (F88), a leading consumer finance company in Vietnam, reported a cumulative pre-tax profit of VND603 billion ($22.88 million) in the first nine months of 2025, a 2.5-fold increase year-on-year, reaching 90% of its full-year target of VND673 billion.
Companies - Tue, October 21, 2025 | 3:15 pm GMT+7
Vietnam corporate earnings to be driven by credit expansion, trading activity, property recovery
With Q3 earnings season underway, results are expected to come in broadly in line with expectations. Financials should remain the largest contributors, benefiting from credit expansion and trading activity, while real estate continues to recover as project launches and sales rates improve, writes Tung Dang, associate director at Dragon Capital.
Economy - Tue, October 21, 2025 | 2:33 pm GMT+7
Inland port opens in southern Vietnam province Tay Ninh, set to become border logistics hub
The 16.5-hectare Tan Cang-Moc Bai inland port in Tay Ninh province, southern Vietnam has been opened, offering logistics services and handling customs clearance for imports and exports.
Infrastructure - Tue, October 21, 2025 | 12:03 pm GMT+7
State-managed property trading centers will help curb speculation, price manipulation: expert
Establishment of state-managed real estate trading centers is expected to create a transparent transaction channel, helping control and limit speculation and price manipulation in the Vietnamese market.
Real Estate - Tue, October 21, 2025 | 8:37 am GMT+7
Vietnam's benchmark VN-Index records sharpest drop in 25-year history
VN-Index, which represents the Ho Chi Minh Stock Exchange (HoSE), saw the sharpest decline in its 25-year history on Monday, down by 94.76 points, or 5.47%, to 1,636.43.
Finance - Mon, October 20, 2025 | 5:49 pm GMT+7
Construction contractor Coteccons sets record FY2026 targets, capital base hike via share issue
Coteccons Construction JSC (HoSE: CTD), one of Vietnam’s largest construction contractors, has set ambitious targets for its fiscal year 2026, driven by a record order backlog and its push into international markets.
Companies - Mon, October 20, 2025 | 4:50 pm GMT+7




















