- The Ministry of Industry and Trade has officially decided to impose an anti-dumping and anti-subsidy tax of 47.64% on some sugar products imported from Thailand for five years.
- The move followed the Ministry of Industry and Trade’s ministry finishing an anti-dumping investigation that began last September.
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In February this year, the Ministry of Trade and Industry levied a temporary anti-dumping tax of 33.88% sugar products imported from Thailand.
The investigation showed that subsidised sugar imports into Vietnam increased to 1.3 million tonnes in 2020, up 330.4% on-year.
According to the Vietnam News Agency, the sharp increase in import volume caused serious damage to Vietnam’s sugar industry, forcing plenty of sugar processing mills to halt operation and lay off workers. According to the ministry, as many as 3,300 workers have lost their jobs and more than 93,000 farmers have been affected.
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