PM orders support to cashew nut exporters allegedly scammed
Prime Minister Pham Minh Chinh has asked relevant ministers and the central bank’s governor to coordinate with the Vietnam Cashew Association (VINACAS) and agencies concerned to verify the information that many cashew nut exporters are facing rist of big losses.
Hanoi (VNA) – Prime Minister Pham Minh Chinhhas asked relevant ministers and the central bank’s governor to coordinate withthe Vietnam Cashew Association (VINACAS) and agencies concerned to verify the information that many cashew nut exporters are facing risk of big losses.
The Government’s Office has issued a dispatchconveying the PM’s instructions regarding Vietnam’s export of cashew units toEurope.
The document was sent to the Ministries of Industryand Trade, Agriculture and Rural Development, Public Security, and Transport, andthe Governor of the State Bank of Vietnam (SBV) after some e-newspapersreported that many cashew nut exporters are facing the risk of losing hundreds of millions of USdollars.
Chinh ordered coordination between the ministries andagencies to ensure legal and legitimate rights and interests of people andbusinesses, in line with domestic and international law.
Any obstacles to the work must be reported to the PMin a timely manner, according to the dispatch.
VINACAS said Vietnamese exporters may have lost nearly100 containers of cashew nuts valued at hundreds of millions of US dollars whileshipping to Europe.
The firms held that they would be scammed as all ofthem signed contracts to export cashew nuts to Italy through a broker - KimHanh Viet One Member Co based in Ho Chi Minh City.
They have reported that changes were made to the SWIFTcode sent from Vietnamese banks to those allegedly representing the importer inTurkey. The Turkish banks said the buyer is not their client and that they hadsent back the documents. However, they failed to specify how they had sent backthe original documents and provided Vietnamese banks with bills of lading.
After document collections were sent to the buyer’sbank in Italy, the Italian bank replied that it had received only copies of thebills of lading, not the original documents. Therefore, they cannot processthe payments. It is the norm in international trade that anyone with theoriginal documents can collect the goods and the shippers must comply.
The association insisted shippers must release thegoods after getting confirmation from the Vietnamese sellers, VINACAS said.
Meanwhile, the association has requested legalassistance from the Vietnam Chamber of Commerce and Industry (VCCI) and the VietnamInternational Arbitration Center (VIAC)./.
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Illustrative image (Source: VNA) 
