Vietnam plans to grant automatic visas as of Jan.1, 2006 for textile and apparel exports to the US.
However, as soon as 70 percent of the export quota is achieved, automatic visas will stop and the ministries of Trade and Industry will regulate the remaining export volume.
At a meeting of almost 200 northern textile and apparel enterprises in Hanoi on Dec. 27 to review the management of textile export quotas in 2005, Deputy Trade Minister Le Danh Vinh said that early quotas will be granted to entrepreneurs who have registered for the guarantee fund so as to help them be active in production and sign contracts with buyers.
The rest will be granted to entrepreneurs who have not registered for the guarantee fund, he added. Priority will be given to enterprises that will make early deliveries or have signed contracts with high free on board (FOB) prices.
The implementation of the plan will be strictly supervised and the granted quotas will be retrieved from those who do not meet requirements.
