Conversion of Export Method from FOB to CIF

13:17, 11/07/2024

This is one of the solutions to implement the Scheme to enhance the competitiveness of Vietnam's export products by 2020, with an orientation towards 2030, approved by the Prime Minister of the Government of Vietnam in Decision No. 1137/QD-TTg dated August 3, 2017.

In order to achieve the objectives set forth by the Scheme, the following major solutions should be implemented:

- First, transform the export method:- Transition from intermediary export to direct export;- Transition from export under FOB delivery terms to export under CIF delivery terms.- Second, transform the production method:- For agricultural products: Shift from small-scale, fragmented production to large-scale, concentrated production;- For industrial products: Shift from pure processing to production methods with high added value in the value chain of goods;- Third, shift the export product structure towards increasing the proportion of products with high added value.

See more Decision 1137/QD-TTg effective from the date of signing and issuance.

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