Ministry of Trade (MOT) has issued an official notification dated October 30, concerning allocation of exports quota of textile and garment goods, which attract exporting contracts, to US market in last two months of 2006, official sources from MOT said.
Reportedly, from October 30, all enterprises which retain exports quota in performance of security deposits should not transfer or do any transaction of their quota.
Moreover, they must re–register their remained quota to quota management board at MOT with details of goods to be exported during next two months and report this to the board by November 4 this year.
Enterprises owning no exports quota or fewer quotas than their demand can register with the board to receive more exports quota.
In the notification, MOT also regulated that till December 31, 2006 if enterprises do not perform their exports quota of over 95 percent, they will be heavily fined with VND150,000 per doze ($9.3/doze).
Fibre2fashion News Desk - Vietnam
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