Topic: inspection

Four gold trading companies and 2 banks will be subject to inspection.

The inspection expected for September or October this year, instead of May.

Inspection focusing on compliance with gold trading regulations.

Administrative penalties proposed at over $4.45 billion in 2023.

Sector subject to 87,500 inspections this year.

The Ministry of Agriculture and Rural Development (MARD) has reported that total trade turnover in agricultural, forestry, and fishery products reached $82.1 billion in the first ten months of 2022, up 10.2 per cent year-on-year. Exports stood at $44.9 billion, up 14.1 per cent, and imports $37.2 billion, up 5.8 per cent. From October 20-27 an inspection team from the European Commission (EC) visited Vietnam and worked with steering committees in many cities and provinces and other agencies on efforts to combat illegal, unreported, and unregulated (IUU) fishing. However, the EC is still to remove the “yellow card” it imposed on Vietnamese seafood.

According to Mr. Petri Deryng, Founder of Finland’s PYN Fund Management Ltd and Portfolio Manager of the PYN Elite Fund, Vietnam’s stock market, which is the worst in Southeast Asia in terms of profitability, could bottom out this week or next. Interest rates, however, may peak in the country in early 2023. He believes that the situation will calm down in the months to come, thanks to directions, inspections, and close supervision from authorities.