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MoIT warns of fraud in West Africa
The Ministry of Industry and Trade (MoIT) has sent a warning to domestic businesses about trade fraud in Africa.
The MoIT said that some subjects claimed to be businesses from West African countries, such as Togo, Benin, Cameroon, Nigeria, Ghana and Senegal or from organisations, like the Niger Delta Development Commission or the Economic Development Support and Relief Organisation of West Africa (EDSROWA). However, most of these cases are frauds. They asked Vietnamese businesses to pay various fees, such as import or transaction fees worth thousands of US dollars in advance.
To avoid risks, the MoIT pointed out that most West African countries speak French so all documents are written in French. If documents, such as business licences are in English they will be fraud. Transactions via the Internet are not available in these countries because their infrastructures are not up to standard, therefore Vietnamese businesses should check all information very carefully, the ministry warned.
It added that to expand markets in Africa, businesses should take part in fairs or join trade delegations led by ministries or departments or make direct fact-finding tours. Businesses can also ask the ministry to supply information about these markets when carrying out activities there. If they find unusual problems during transactions they should verify their partners.
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