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LG Vietnam is certified as an Authorized Economic Operator

Summary

Updated on : 25-07-2017

VCN- On July 24th 2017, authorized by the Director General of Vietnam Customs, Hai Phong Customs Department held the Announcement ceremony of the authorized economic operator (AEO) for LG Electronics Vietnam Co., Ltd (Trang Due Industrial Park, Hai Phong).

On June 9th, 2017, Director General of General Department of Vietnam Customs Nguyen Van Can signed Decision 1954/QD-TCHQ to recognize the AEO in the field of customs for LG Electronics Vietnam Co., Ltd (Trang Due Industrial Park, Hai Phong).

LG Electronics Vietnam Co., Ltd. has a total investment of US$ 1.5 billion, built on an area of 800 hectares. Currently, it is considered as the largest foreign direct investment enterprise in Hai Phong. In the first five years, 70% of the company's products have been exported to 35 countries around the world.

At the Ceremony, Mr. Nguyen Huu Tho- Deputy Director of Hai Phong Customs Department stated that in the recent times, implementing the policy of the General Department of Vietnam Customs, the Hai Phong Customs Department has focused on implementing the reform and modernization programs to facilitate import and export activities, and the assessment to submit the Director General to certify AEO for enterprises which will comply the law. This is an important content.

7 of 15,000 enterprises which regularly implement Customs procedures at the Hai Phong Customs Department are certified as authorized economic operators in Customs field.

Mr. Ryu Nam Ki- Chief Financial Officer of LG Electronics Vietnam said that LG Vietnam was established in 2013 as a member of LG South Korea Corporation. The Company focuses on manufacturing and assembling digital devices for automobiles, mobile phones, washing machines, air conditioner, vacuum cleaners and etc.

"After studying the regulations and benefits of the AEO Program, the Company has actively implemented in accordance with the standards. And with the support of Hai Phong Customs Department, the Company is certified as an AEO by the General Department of Vietnam Customs with many benefits, especially quick customs clearance, improving reputation for the Company "Mr. Ryu Nam Ki said.

Mr. Ryu Nam Ki affirmed that it is difficult to be certified as an AEO, but the operation under the provisions of the program will require greater efforts from the company to maintain its certification.

According to Ms. Le Thu-Deputy Director of Post Clearance Audit Department (General Department of Vietnam Customs), currently, 62 of 60,000 import-export enterprises have been certified as AEOs. Despite the small number, these enterprises accounted for 27% of the total import and export turnover of the country. In particular, there have been 11 South Korean enterprises which mainly operate on electronic technology field.

By Thai Binh/Ngoc Loan