Seafood producing in Minh Phu Hau Giang company.— Photo baohaiquan

HA NOI (Biz Hub) — The General Department of Customs yesterday announced it has approved the applications of eight more companies for expedited customs procedures.

Granted Authorised Economic Operator (AEO) status were Samsung Vina and UMC Viet Nam, seafood producers Minh Phu Hau Giang and Soc Trang, and food producer Sao Ta, along with Hoa Sen Group, Hoya Glass Disk Viet Nam and Yazaki Hai Phong Viet Nam.

This has increased the number of Vietnamese enterprises with AEO status under the programme, first applied in 2011, to 24 among the country's more than 50,000 exporting and importing companies. Companies with AEO status account for 23 per cent of Viet Nam's total export revenue.

In ceremonies marking the granting of AEO status yesterday, Hoang Viet Cuong, the department's deputy general director, said the programme was tailor-fit for global development trend and recommendations from the World Customs Organisation.

The policy also reflects a change in the management style of the State, which considers enterprises as partners rather than entities placed under State management.

Cuong revealed that the department would be expanding the programmes scope to allow more enterprises to qualify. Instead of restricting its focus on direct producers, the programme will include companies involved in international supply chains such as ports trading and logistics.

The department will also propose to the Government a project for Viet Nam to pursue mutual recognition agreements with foreign countries, to enable AEO companies based in the country to benefit from customs priorities in those foreign countries, he added.

Vu Van Thanh, general director of Hoa Sen Group, said the programme helped companies to increase competitiveness through savings on costs and the reduction of risks and volatility.

Thanh added that to qualify for the programme, companies must follow strict regulations on production, management, compliance with laws and contributions to the country's economic development.

The recognition will raise the reputation and prestige of companies among customers, partners and State management agencies.

The department said it would try to increase the number of companies with AEO status to 30 by year-end. — VNS