To assist Vietnam with the decongestion of its ports, the Global Alliance for Trade Facilitation, working with both the government and the private sector, is implementing a modern system of conditional release of goods using customs bonds. As a result of this Project, Vietnam will become the first country in Asia to implement an all-encompassing customs bond system that covers risks from payment of duties and taxes to regulatory compliance, thus fully separating customs clearance from cargo release.
Published Date: January 01, 2018