The headquarters of the Ministry of Industry and Trade (MOIT). — VNA/VNS Photo

Việt Nam has initiated 29 trade defence investigations to protect its domestic market and businesses' interests, thus increasing state budget revenue by approximately VNĐ1.5 trillion (US$60.4 million) a year, according to the Ministry of Industry and Trade (MOIT).

The country has also applied 22 measures against imported goods, it added.

The investigations and trade defence measures aim to restore fair competition for local industries, especially in the context of many imported goods showing signs of dumping or receiving subsidies, causing serious damage to some domestic industries, the ministry said.

Currently, the ministry's Trade Remedies Authority is investigating and reviewing seven cases initiated in 2023. It has launched two new investigations and two new reviews, while receiving and handling nine applications for trade defence investigations and reviews. — VNS