Ensuring fair competition between imported and domestically produced steel
On the afternoon of October 23, at the regular press conference of the Ministry of Industry and Trade, answering reporters' questions about how the recent sharp increase in steel imports has affected the domestic manufacturing industry, Mr. Chu Thang Trung - Deputy Director of the Department of Trade Defense - said that in the country, the hot-rolled steel (HRC) industry currently has 2 enterprises with a total capacity of about 8.6 million tons/year, consumed in the domestic market and exported to other markets at a ratio of 50:50.
Meanwhile, the Ministry of Industry and Trade estimates that the domestic market's demand for hot-rolled steel is about 13 million tons per year. Thus, "imports are still an important source of supplement for the domestic market's demand over the past time," Mr. Chu Thang Trung affirmed.
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| Mr. Chu Thang Trung - Deputy Director of the Department of Trade Defense spoke at the Press Conference. Photo: Can Dung |
The leader of the Trade Defense Department added that recently, based on the request documents of the domestic manufacturing industry, the Ministry of Industry and Trade issued Decision No. 1985/QD-BCT on conducting an investigation to apply anti-dumping measures on hot-rolled steel products originating from India and China to ensure a fair competitive environment between imported goods and domestically produced goods.
According to the investigation process, the Ministry of Industry and Trade has sent investigation questionnaires to all relevant parties. Up to now, the Ministry has received 20 responses from foreign enterprises, domestic enterprises as well as importing enterprises. "Based on the information and data provided by relevant parties, the Trade Defense Department is assessing and determining the price-gouging behavior of foreign manufacturing and exporting enterprises, as well as the impact of imports on the domestic manufacturing industry, including recent developments in increased imports," Mr. Chu Thang Trung informed.
At the same time, it affirmed that in case there is sufficient preliminary evidence to determine that the domestic manufacturing industry is affected by dumped imports, the trade defense investigation agency will recommend that the Ministry of Industry and Trade consider applying temporary anti-dumping measures to limit negative impacts on the domestic manufacturing industry.
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| Deputy Minister Nguyen Sinh Nhat Tan answers the press. Photo: Can Dung |
Regarding this issue, Deputy Minister Nguyen Sinh Nhat Tan added that the sharp increase in imports, while the decrease in turnover, has shown signs that an anti-dumping investigation is needed. The Ministry of Industry and Trade will consider the overall supply and demand. "Currently, domestic production cannot meet the demand, so we are forced to import. However, if massive imports cause serious damage to domestic production and especially hinder the development of this industry, there will be protection tools," Deputy Minister Nguyen Sinh Nhat Tan affirmed.
The leader of the Ministry of Industry and Trade said that the current measure is that the Ministry is conducting an investigation to apply anti-dumping measures. On that basis, it will regulate imports and ensure the harmonious interests of all parties. "If the Ministry of Industry and Trade correctly determines that there is damage and all factors are met, temporary anti-dumping measures will be applied," the Deputy Minister affirmed.
No need to worry when India lifts rice export ban
Regarding questions about how India's lifting of the rice export ban affects Vietnam's export market, Mr. Tran Thanh Hai - Deputy Director of the Import-Export Department - informed that in July 2023, India issued a law banning rice exports, but on September 28, 2024, the country lifted this ban. "India is a country with a large role and influence in the world rice market. This country's move has been closely monitored by the Ministry of Industry and Trade, the Vietnam Food Association and rice exporting enterprises," Mr. Tran Thanh Hai affirmed.
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| Mr. Tran Thanh Hai - Deputy Director of the Import-Export Department spoke. Photo: Can Dung |
The leader of the Import-Export Department said that by the end of September, Vietnam's rice export turnover reached 6.9 million tons, worth about 4.3 billion USD, up 23% in turnover and 13.4% in price compared to the first 9 months of 2023.
With the above results, the Deputy Director of the Import-Export Department assessed that Vietnam's rice exports are quite positive. However, with India's move to lift the ban on rice exports, export prices will certainly be affected and businesses and associations are still closely monitoring this move to avoid being passive in the rice export process. "In the coming time, the Ministry of Industry and Trade will continue to work with associations, localities and businesses to monitor the situation to make appropriate changes," Mr. Tran Thanh Hai affirmed.
The leader of the Import-Export Department added that Vietnam is implementing a policy of diversification and restructuring to high-quality rice with special characteristics such as fragrant rice, etc. to avoid collisions with Indian rice exports and limit the possibility of being affected.
Recalling the instructions of Prime Minister Pham Minh Chinh at the Conference on implementing the Project "Sustainable development of one million hectares of high-quality and low-emission rice cultivation associated with green growth in the Mekong Delta by 2030" on product diversification, improving rice quality, especially brand building, Deputy Minister Nguyen Sinh Nhat Tan affirmed: "With the unique brand and characteristics of Vietnamese rice, we can completely rest assured to compete fairly with other countries. India's policy will of course have an impact, but there is no need to be too concerned."
Source: https://congthuong.vn/ap-dung-chong-ban-pha-gia-neu-thep-nhap-khau-anh-huong-xau-toi-san-xuat-trong-nuoc-354313.html
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