Customs all set to make risk management transparent
A circular on new regulations for customs risk management will come into effect on January 1 next year to helping businesses comply with regulations and clear customs more easily.
Customs’ risk management procedures will be made more transparent and comprehensive to help risk evaluation and businesses clear their goods smoothly.(Photo: VNA)
HCMCity (VNS/VNA) - A circular on new regulations for customs' risk management will come into effect on January 1 next year to helpingbusinesses comply with regulations and clear customs more easily.
Ho Ngoc Phan, deputy head of the General Department of Customs’ risk managementdepartment, told a conference on October 28 that risk management has beendeveloping quickly in recent years.
According to customs statistics, the volume of goods that need to be inspectedphysically dropped to 5.08 percent last month (September) from 9.68 percent in2014.
In 2019 the Ministry of Finance sent Circular 81 with updates on policies onrisk management procedures followed by customs to strike a balance betweenadministration and easy trade.
Customs issued a decision in August this year to guide implementation of thepolicies.
Bui Thai Quang, deputy head of the risk management department, said Circular 81mandates changes such as the publication of risk management criteria used toevaluate business’ compliance with customs regulations (which used to be keptconfidential) to help them avoid errors.
It introduced a wider categorisation system for business applicants and a new,more detailed system for categorising levels of compliance, and also adds newlevels of risks, he said.
Nguyen Minh Thao, head of the business environment and competitivenessdepartment at the Central Institute for Economic Management, said customs’pioneering of a risk management mechanism could cause other sectors to do thesame, improving Vietnam’s investment climate.
Dang Vu Thanh, deputy chairman of the Vietnam Logistics Business Association,said Circular 81 modernises customs, the information gathered to evaluatecompliance is being made more transparent, and businesses going through customscould receive help to be more compliant.
Alistair Gall, a senior expert in trade facilitation for the USAID TradeFacilitation Programme, said Circular 81 helps improve customs’ capabilitiessuch as in dealing with transactions, declarations and businesses that are deemedas high risks.
But for it to be effective, businesses need to cooperate and voluntarilycomply, he added./.
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Customs’ risk management procedures will be made more transparent and comprehensive to help risk evaluation and businesses clear their goods smoothly.(Photo: VNA) 
