US initiates investigation into pharmaceutical capsule shells imported from Việt Nam

15:48 | 22/11/2024 Trade Follow Ven.vn on

Hard capsule pharmaceutical shells from Brazil, China and India are also being investigated.

The total value of hard capsule shells the US imported from Việt Nam in 2023 was approximately US$26 million. — Photo vneconomy.vn

HÀ NỘI — The US Department of Commerce (DOC) has initiated trade investigations on hard capsule pharmaceutical shells imported from Việt Nam, Brazil, China and India, the Ministry of Industry and Trade announced on Thursday.

Products from all four countries are being investigated for anti-dumping and countervailing duties.

The complainant, Lonza Greenwood LLC, alleges that two Vietnamese companies dumped prices and received subsidies for two types of hard capsule shells – products with Harmonised System (HS) codes 9602.00.1040 and 9602.00.5010 – when exporting to the US market.

The anti-dumping investigation will be conducted for products exported to the US from April 2024 to September 2024, while the countervailing investigation will be for products exported throughout 2023.

An investigation into damages allegedly caused to domestic US companies will look into products exported to the US from January 2021 to June 2024.

The alleged dumping margin for Việt Nam is from 63.53 per cent to 86.04 per cent.

Prices from Indonesia will be used as surrogate values to calculate the dumping margin for Việt Nam, as the US considers Việt Nam a non-market economy.

According to data from the US International Trade Commission (ITC), hard capsule shell imports from Việt Nam accounted for about 12 per cent of the total shell imports being investigated.

The total value of the pharmaceutical shells that the US imported from Việt Nam in 2023 was approximately US$26 million. The value of the shells imported from China was $49 million, from India $67 million, and from Brazil $4 million.

Regarding the countervailing duty allegations, after reviewing the complainant's claims and request, the DOC initiated an investigation into 27 subsidy programmes from the Vietnamese Government that are believed to benefit Vietnamese hard capsule shell manufacturers and exporters, and which allegedly caused or are threatening to cause significant harm to the US domestic industry.

Source: VNS

See more news

First bird’s nests from VN exported to China through Bắc Luân II bridge border gate

14:32 | 21/11/2024 Trade

The activity marks the beginning of a promising collaboration between businesses from the two nations.

Shrimp exports surge in 10 months, generating US$3.2 billion

09:08 | 21/11/2024 Trade

In the first ten months of the year, shrimp export turnover reached US$3.2 billion, recording a 13 per cent growth year-on-year.

Việt Nam's pangasius exports expected to reach $2b in 2024

08:59 | 21/11/2024 Trade

Pangasius export turnover in the first ten months reached $1.56 billion, an increase of 8.9 per cent over the same period in 2023.

Bilateral trade turnover between Việt Nam and Mongolia triples

16:42 | 20/11/2024 Trade

Bilateral trade turnover between Việt Nam and Mongolia has tripled from US$41.5 million in 2017 to $132 million in 2023.

Vietnamese trade counselors in Americas contribute to trade growth: Minister

15:44 | 20/11/2024 Trade

Hanoi – Vietnamese trade counselors in the Americas gathered at a conference in Rio de Janeiro, Brazil, on November 18 to evaluate their work in the past time and discuss orientations and tasks in the time ahead, aiming to further promote the export of Vietnam's goods to countries in the region and the world.

US imposes global safeguard measures on Vietnamese fine denier polyester staple

10:27 | 20/11/2024 Trade

The United States has decided to impose global safeguard measures on fine denier polyester staple fiber being imported into the US market from many countries, including Vietnam, according to the Trade Remedies Authority of Vietnam (TRAV).

Data on China seafood imports in three quarters

09:22 | 20/11/2024 Trade

(VEN) - Vietnam is currently the 4th largest seafood suppliers to China (after Ecuador, Russia and Canada), accounting for 6.23 percent of the proportion of China’s imports in the first nine months of 2024.

Russia, Vietnam seek to bolster import and export turnover

14:33 | 19/11/2024 Trade

Import-export turnover between Vietnam and Russia during the first three quarters of this year reached US$3.52 billion, up 41% over the same period from last year, while many local business delegations have gone to Russia to explore the large market.

VN-UK trade continues to grow

14:24 | 19/11/2024 Trade

Việt Nam's exports to the UK in the last 10 months amounted to nearly $6.4 billion, a 22 per cent annual increase.

Enterprises urged to tap potential to expand exports to EU via official channels

10:53 | 19/11/2024 Trade

The Vietnam Trade Promotion Agency under the Ministry of Industry and Trade (MoIT) on November 18 organised a seminar on trade promotion in the European market, focusing on potential for expanding exports to the European market via official channels.

Latest Most Read

Vietnam’s automotive supporting industry: A bright future ahead, riding the wave of growth

20:42 | 22/11/2024 Industry

(VEN) - In recent years, the demand for transportation vehicles in Vietnam has surged rapidly, making the market highly promising, as assessed by experts.

Can Tho eyes stronger cooperation with US partners

17:17 | 22/11/2024 Cooperation

The Mekong Delta city of Can Tho wishes to strengthen cooperation with enterprises and localities of the US in areas of economics, education, healthcare, and sustainable environmental development, Secretary of the municipal Party Committee Nguyen Van Hieu told US Ambassador to Vietnam Marc Knapper in a meeting with the diplomat on November 21.

Thai packaging giant takes 30-year lease for largest ready-built factory in Tay Ninh

16:58 | 22/11/2024 Investment

Thantawan Industry Public Company Limited, a leading plastic bag and straw manufacturer with more than 40 years of experience in Thailand, officially took out a landmark 30-year lease for a ready-built factory at Phuoc Dong Industrial Park, the southern province of Tay Ninh.

Bulgarian President’s visit to deepen ties with Việt Nam: Ambassador

16:41 | 22/11/2024 News and Events

Vietnamese Ambassador to Bulgaria Đỗ Hoàng Long said the visit underscores Việt Nam's high regard for Bulgaria as a traditional, trusted and important partner in the Balkans region.

Association boosts insurance sector’s sustainable development

16:30 | 22/11/2024 Society

(VEN) - The Insurance Association of Vietnam has effectively played its role as a bridge between its member insurance companies and relevant state authorities while protecting the legitimate rights and interests of its members. Vietnam Economic News’ Kim Xuyen spoke with Nguyen Xuan Viet, Chairman of the Insurance Association of Vietnam about this.

Vietnam, Dominican Republic strengthening cooperation

08:45 | 20/11/2024 Infographic

At the invitation of Dominican President Luis Rodolfo Abinader Corona and his spouse, Prime Minister Pham Minh Chinh and his spouse, accompanied by a high-level Vietnamese delegation, pay an official visit to the Dominican Republic from November 19 to 21, 2024. This visit holds significant importance as it marks the first official trip by a Vietnamese leader to the Dominican Republic, taking place ahead of the 20th anniversary of diplomatic ties between the two nations (July 7, 2005 – July 7, 2025).

Party chief welcomes Armenian NA President

09:00 | 20/11/2024 News and Events

Party General Secretary To Lam on November 19 received President of the National Assembly of Armenia Alen Simonyan, who is paying an official visit to Vietnam – the first of its kind by a top legislator of Armenia since the two countries established diplomatic relations over three decades ago.

Teachers in digital age confronted with new challenges

08:59 | 20/11/2024 Society

Modernising classrooms, labs and research equipment is one of the urgent tasks that must be completed for higher education, in addition to the thorough application of university autonomy.

Hundreds of damaged irrigation reservoirs need repairing

09:02 | 20/11/2024 Environment

Việt Nam's system of dams and reservoirs is facing numerous challenges. Unusual rainfall patterns, flash floods due to climate change and the degradation of many structures pose significant safety risks.

G20 Summit: PM shares three proposals to accelerate SDG implementation

09:09 | 20/11/2024 News and Events

Vietnamese Prime Minister Pham Minh Chinh made three proposals to help get the process of achieving the Sustainable Development Goals (SDGs) back on track, and ensure timely completion, while addressing a discussion session on sustainable development and energy transition, as part of the G20 Summit, in Rio de Janeiro on November 19 (local time).

Multimedia

Video Longform Infographic Photo

Strengthening Vietnam-Cambodia friendship and cooperation

09:00 | 22/11/2024 Infographic

Chairman of the National Assembly Tran Thanh Man leads a high-ranking delegation to make an official visit to Cambodia, and attend some international events hosted by the neighboring country on November 21 to 24.

Vietnam - Malaysia Strategic Partnership

10:54 | 21/11/2024 Infographic

Since the establishment of diplomatic relations, the relationship between Vietnam and Malaysia has been continuously strengthened and developed positively across all areas, especially since it was upgraded to a Strategic Partnership in August 2015.

Vietnam, Dominican Republic strengthening cooperation

08:45 | 20/11/2024 Infographic

Vietnam - Brazil strategic partnership

10:26 | 19/11/2024 Infographic

During his trip to Brazil from November 16-19 for the G20 Summit and bilateral engagements, Prime Minister Pham Minh Chinh held talks with Brazilian President Luiz Inácio Lula da Silva. The two leaders agreed to elevate the Vietnam-Brazil bilateral relations to a Strategic Partnership and issue a joint statement on the upgrade of the ties.

Nhon - Hanoi Station elevated urban railway comes into operation

09:04 | 18/11/2024 Infographic

The elevated section of the pilot Nhon - Hanoi Station urban railway project has officially entered commercial operation, three months after its debut. This marks a pioneering step toward green transformation, laying the foundation for the capital's public and sustainable transportation development.

Policy

New decree on using telecommunications accounts for payment proposed

09:29 | 22/11/2024 Policy

Currently, the use of a telecommunications account to pay for small-value goods and services in the country, called Mobile-Money service, is being implemented in a pilot programme.

Parliament approves amendments to pharmacy law

08:54 | 22/11/2024 Policy

On drug price management, the NA Standing Committee reviewed and concurred with the Government’s proposal to implement measures for publishing projected wholesale prices for prescription drugs.

VAT tax reduction should continue until mid-2025: Ministry

17:15 | 21/11/2024 Policy

Hanoi - The Ministry of Finance (MoF) has proposed Vietnam's value-added-tax (VAT) reduction should continue until at least June 2025, saying the tax cut has provided both the business community and the economy with much-needed support.

NA deputies scrutinise investment policy for North-South high-speed railway project

08:54 | 21/11/2024 Policy

The preliminary total investment for the project is estimated at VNĐ1.7 quadrillion (around US$67.34 billion). To ensure its progress and success, 19 special policies have been proposed.

Industry & Trade

Vietnam’s automotive supporting industry: A bright future ahead, riding the wave of growth

20:42 | 22/11/2024 Industry

(VEN) - In recent years, the demand for transportation vehicles in Vietnam has surged rapidly, making the market highly promising, as assessed by experts.

VN's food processing industry struggles to improve quality and value chain integration

11:36 | 22/11/2024 Industry

Despite accounting for 19.1 per cent of Việt Nam’s processing sector, the food processing industry has been struggling with major issues such as poor-quality raw materials and subpar value chain integration, said industry insiders and economists.

Tra fish sector aiming for production, processing greening for sustainable development

15:38 | 20/11/2024 Industry

HCM City - Greening production and processing to meet export requirements is both a trend and a necessity for many industries, including the tra fish sector.

Solutions discussed to ensure coal supply for electricity generation in 2025

16:24 | 19/11/2024 Energy

Việt Nam Electricity (EVN), Việt Nam National Coal and Mineral Industries Holding Corporation Limited (TKV), and Đông Bắc Corporation have proposed solutions to secure sufficient coal for power generation as thermoelectricity is expected to rise significantly to meet 2025's socio-economic power demand.

Investment

Thai packaging giant takes 30-year lease for largest ready-built factory in Tay Ninh

16:58 | 22/11/2024 Investment

Workshop seeks ways to attract Japan’s green investment to Vietnam

09:43 | 20/11/2024 Investment

A workshop was held in Tokyo on November 18 to introduce to Japanese businesses investment trends in Vietnam and its pioneering industrial parks with carbon neutral initiatives.

Government approves investment policy to build Cam Lien Industrial Park in Quang Binh

16:57 | 18/11/2024 Investment

On November 16, the leader of the Quang Binh Provincial Economic Zone Management Board said that the Government had just approved the investment policy for Cam Lien Industrial Park.

Disbursement of public investment must be accelerated: Deputy PM

12:17 | 17/11/2024 Investment

Deputy Prime Minister Ho Duc Phoc has called on ministries, agencies, and localities to accelerate the disbursement of public investment from now until the year-end and further tighten investment management.

Finance-Banking

HDBank wins three awards at Vietnam Listed Company Awards 2024

10:53 | 21/11/2024 Finance-Banking

The Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank - HoSE: HDB) has received three prestigious awards at the Vietnam Listed Company Awards 2024, highlighting its leadership in the banking sector, as well as its dedication to transparency and governance.

VIB, Flywire partner to streamline cross-border payments for students from Vietnam

16:46 | 18/11/2024 Finance-Banking

Vietnam International Bank (VIB) has announced a partnership with Flywire, a global payments enablement and software company based in Boston, to enable Vietnamese payers to digitally pay international education-related fees in their local currency to higher education institutions all over the world.

Vietcombank issues 2 trillion VND worth of green bonds for first time

18:55 | 16/11/2024 Finance-Banking

The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) has successfully issued 2 trillion VND worth of green bonds, the first of its kind, to support eco-friendly projects.

UK stands ready to help Vietnam build international financial hub

17:13 | 13/11/2024 Finance-Banking

The UK’s support for Vietnam in establishing an international financial hub is a significant development that reflects the growing economic ties between the two nations.

Environment

Significant progress in fisheries' environmental protection but challenges remain

09:35 | 22/11/2024 Environment

All provinces and cities across the country had issued plans and directives to implement specific activities of the project in line with local conditions.

Hà Nội prepares for temperature drop as cold front approaches

16:56 | 21/11/2024 Environment

According to the NCHMF, the cold front will result in temperatures dropping sharply across the northern region.

Hundreds of damaged irrigation reservoirs need repairing

09:02 | 20/11/2024 Environment

Greening e-commerce crucial for sustainable development

10:47 | 18/11/2024 Environment

(VEN) - While e-commerce has emerged as a leading sector of the digital economy, driving economic growth and leading the digital transformation of businesses, it has also resulted in significant waste with adverse environmental impacts.

Science - Technology

Việt Nam and Korean NIPA strengthen tech cooperation

10:42 | 22/11/2024 Science - Technology

The Minister of Information and Communications, Nguyễn Mạnh Hùng, commended NIPA for its contributions in assisting Việt Nam in establishing a legal framework for the draft digital industry law.

Cyberattack risks surge with AI advancements

10:39 | 22/11/2024 Science - Technology

Cyberattacks are becoming more sophisticated and complex, especially with the assistance of artifical intelligence (AI), said Deputy Minister of Information and Communications Bùi Hoàng Phương.

People, community at heart of digital transformation: Deputy PM

09:26 | 21/11/2024 Science - Technology

He called on countries and organisations to bolster close cooperation to build an Internet community of safety, responsibility and development while laying stress on Việt Nam's significant progress in the digital transformation programme.

AI is core technology of 4th Industrial Revolution: Minister

11:19 | 20/11/2024 Science - Technology

Minister of Information and Communications Nguyen Manh Hung on November 19 emphasised that artificial intelligence (AI) is the core technology of the 4th Industrial Revolution, as important as the steam engine of the first Industrial Revolution, the power generator of the 2nd Industrial Revolution and the personal computer of the 3rd Industrial Revolution.

Society

Association boosts insurance sector’s sustainable development

16:30 | 22/11/2024 Society

Vietnam, Venezuela step up educational cooperation

16:23 | 22/11/2024 Society

Mexico City - An educational cooperation agreement for the 2024-2029 period was signed by Vietnam’s University of Technology and Management (UTM) and Andrés Bello Catholic University (UCAB) of Venezuela on November 21 as part of activities celebrating the 35th anniversary of diplomatic relations between the two countries (December 18, 1989-2024).

A series of scientific seminars on influenza prevention

15:15 | 22/11/2024 Society

In Ho Chi Minh City, Sanofi Southeast Asia and India successfully organized and leveraged a series of scientific seminars on influenza, attracting over 400 healthcare professionals from both the region and around the globe.

Insurance Association of Vietnam: 25-year journey of growth

10:49 | 22/11/2024 Society

(VEN) - The Insurance Association of Vietnam (IAV) was established under Decision 51/1999/QD/BTCCBCP dated July 9, 1999 of the Government’s Commission for Organization and Personnel (now the Ministry of Home Affairs). Over the past 25 years of development, the association has affirmed its vital role in the Vietnamese insurance market.

Vietnamese Brands

Doubling insurance product’s payout significantly benefits customers

16:22 | 22/11/2024 Vietnamese Brands

(VEN) - The Agriculture Bank Insurance Joint Stock Corporation (ABIC) has officially doubled the maximum payout for its Bao An insurance product to VND1 billion. This is a major breakthrough, enhancing financial protection for customers amid an increasingly volatile economy and rising demand for financial security.

PJICO: 30 years of development

11:19 | 22/11/2024 Vietnamese Brands

(VEN) - Throughout the past 30 years of establishment and development, Petrolimex Insurance Corporation (PJICO) has solidified its position in the non-life insurance sector and overcame numerous challenges.

VN takes part in food and beverage fair in Chicago

09:45 | 20/11/2024 Vietnamese Brands

The event is organised by the Private Label Manufacturers' Association (PLMA).

Hòa Bình honey awaits reactions from UK

10:41 | 19/11/2024 Vietnamese Brands

Farmers, producers, and the agricultural authorities in Hòa Bình Province are waiting for feedback on their locally produced honey, which was exported for the first time to the UK last month.

Culture

Vibrant cultural rendezvous in Hanoi

15:30 | 22/11/2024 Lifestyle

(VEN) - The 2024 International Food Festival will take place from December 7-8 in Hanoi, aiming to promote cultural and culinary exchange among nations.

Cultural activities celebrate Việt Nam Heritage Day

10:06 | 22/11/2024 Culture

One hundred paintings from traditional folk painting villages in Việt Nam will go on display at the central city’s Fine Arts Museum in celebration of Heritage Day from November 22-30.

Bac Ninh Province: Dong Ho folk painting needs urgent safeguarding

15:04 | 20/11/2024 Culture

(VEN) - Dong Ho folk painting village, located in Dong Khe Hamlet, Song Ho Commune, Thuan Thanh Town, Bac Ninh Province, boasts an over-400-year history. Its origin is tied to the Vietnamese tradition of hanging paintings during the Lunar New Year (Tet), the Mid-Autumn Festival, and ancestor worship.

Vietnamese designers tell stories of culture at Fashion Week

10:14 | 20/11/2024 Culture

Vietnamese fashion designers took audiences in Hà Nội on a journey to explore the country’s culture and heritage through their new collections presented at the Aquafina Việt Nam International Fashion Week (AVIFW) Fall/Winter 2024.

Tourism

Golden time for community-based tourism development

10:38 | 22/11/2024 Tourism

(VEN) - Community-based tourism is a model in which local communities provide tourists with products and services and share the benefits generated by tourism.

Christmas Festival to entertain visitors to Đà Nẵng

09:53 | 22/11/2024 Tourism

A public space in celebration of Christmas Day and New Year – Danang X’mas-New Year – will be opened at the pedestrian area and stages on the Hàn River banks near the Rồng (Dragon) Bridge from December 19 to January 2, offering entertainment and festive activities for all residents and visitors.

How trekking the mountains lifted me up and above ... the clouds: conquering Lùng Cúng

09:45 | 22/11/2024 Tourism

Not only is trekking to the top of a mountain an active physical workout and you get a clean intake of oxygen, it is about the joy of overcoming yourself.

Blooming buckwheat flowers on Ha Giang roads

14:54 | 21/11/2024 Tourism

(VEN) - When buckwheat flowers on the hills and in the valleys of the Dong Van karst plateau bloom, it is also the peak tourist season in the Northernmost province of Ha Giang.

US initiates investigation into pharmaceutical capsule shells imported from Việt Nam

See also

See more news

Multimedia