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Economy January 22, 2018 01:00

By The Nation


Vietnam’s Ministry of Industry and Trade has urged Vietnamese firms to verify information related to Thai business partners carefully to avoid being swindled. The ministry said that the Trade Counsellor in Thailand had recently received a number of requests from Vietnamese firms asking for assistance in handling frauds they faced when doing business with Thai companies.

Many Vietnamese firms sought business partners from Thailand via the Internet and decided to do business and pay deposits without adequately verifying information about them. In some cases, they did not receive the products they had ordered or failed to contact their partners and lost their deposits.

The trade counsellor urged Vietnamese firms to verify information about their potential Thai partners carefully, especially those with whom they are doing business for the first time. The information should be verified on official channels or via the trade counsellor. All Thai businesses must register their information with the Department of Business, which is published on the portal:

While negotiating contracts and transactions, Vietnamese firms should ask partners to provide adequate information for verification as well as choose safe payment methods. — Viet Nam News/ANN