Banking

Customer Relations for Card Users

The State Bank of Vietnam issued Circular 30/2016/TT-NHNN dated 14 October 2016 amending and supplementing a number of circulars on payment services and payment intermediary services. New provisions on card operations are below.

  • Banks are no longer required to register, but instead notify to the SBV its specimen card.
  • Banks must maintain at least two ways of receiving queries and complaints from cardholders: directly at their transaction offices and via call centers. Any query or complaint made by a cardholder through the call center must be accompanied by submission of an official request for query or complaint.
  • Within 5 working days of a submission of a complaint or settlement of a complaint, banks must compensate the cardholder for any loss arising not due to the cardholder’s fault or a force majeure event.

Trade

Anti-dumping Measures

A number of countries have imposed anti-dumping measures on Vietnam.

  • In October 2016, Turkey imposed antidumping tax on Vietnamese plywood.
  • In June 2016, the USA imposed antidumping measures on Vietnamese circular welded carbon-quality steel pipes.
  • In September 2016, Thailand imposed anti-dumping duties on Vietnamese steel products.
  • In October 2016, the European Union imposed anti-dumping duties on imports of certain types footwear with uppers of leather or composition leather from Vietnam.
  • In May 2016, the USA decided to continue applying anti-dumping duties on imports of polyethylene retail carrier bags from Vietnam.

Vietnam has also recently imposed antidumping measures on steel products from China and Korea.

For more information, click Asia Counsel Insights 3 November 2016.


OTHER NEWS ON THE AUSCHAM WEBSITE