Cargo Loss and Prevention

Another important cooperation content of the Vietnam – Denmark Energy Partnership Cooperation Program is the biennial publication of the Vietnam Energy Outlook Report. This report emphasizes energy efficiency as a cost-effective tool for Vietnam’s green transition to 2030 and 2050 and recommends investment in energy-saving technologies because of this technology will be more cost effective due to the significant savings in fuel costs. Economical and efficient use of energy has many benefits, including major benefits to society such as reducing environmental pollution and enhancing national energy security.

Vietnam is a country with the potential to develop clean energy such as wind energy, solar energy, tidal energy, … with the advantage of being a country adjacent to the sea, near the equator, with high hours of sunshine in a year, these are enough for Vietnam to become a country with a sustainable clean energy base. However, due to many objective factors, Vietnam has not been able to make good use of this resource. The limitation in science, technology, engineering and finance makes the clean energy sector in Vietnam not really focused on development.

Denmark is a European country with many years of experience in clean energy development. After many years of researching the clean energy market in Vietnam, many Danish investors have found the benefit and the ability to develop this field. With the goal of developing clean energy, providing energy efficient and safe platforms. Meanwhile, Denmark has many companies in wind and solar power and is very interested in market entry into Vietnam market through setting up company, or manufacturing in Vietnam.

In addition, Danish investors also promote development, investment cooperation, building smart city in Vietnam, apply science and technology applications and clean energy to build and develop a sustainable way. Therefore, this is an opportunity for Vietnam to attract energy investment from Denmark and also an opportunity for Danish investors to invest in Vietnam. In the coming time, Vietnam hopes to have more investors from Denmark implementing energy development projects in Vietnam so that they can reap high returns for both investors and Vietnam in the future.

In the international goods sale and purchase using technology, the best benefits are that, the parties in the transaction do not need to meet, negotiate, and check goods before buying. All of the international goods purchase and sale activities are done via the internet means such as Website, Email, Social media,… which help parties save time and costs when doing the purchase. However, the use of digital technology in the goods sale and purchase transactions still has many hidden risks that the buyer cannot foresee.

Specifically, in the process of discussion of the purchase and sale of international goods, there are many cases where the Vietnam seller does not provide the expected quantity of goods or the goods are meet the minimum quality requested by the buyer, but the seller still signs the contract and require the buyer make the deposit/payment before delivery. Some time, all the transactions are conducted via social media and there is no contract at all. Unless the transaction is small, it is always suggested a proper contract to be properly signed with the envision of potential disputes might arise.

Further, there might be fraudulent activities involved taking advantage of the urgent needs of buyers whom skip the process of verifying the business partner for business existence, reputation, financial capability, bad history, and potential fraudulent acts. In some cases, the seller could go further to forge legal documents, quality certificates, … to create confidence for the buyer in performing the contract. Some lure buyers by creating fake websites, fake contracts, fake phone numbers, …using alias names to avoid being traced when taking fraudulent activities.

With significant transaction, the buyer could minimize risks through the helps of local partner on the ground to check the seller’s legal documents including corporate documents to be able to trace back the and if the seller does not perform, at least they could be located for legal action. The buyer could send people to physically check the seller’s office, factory to ensure that the seller operates at the registered address. Before making a deposit, the buyer could check if the beneficiary’s account matches the seller’s registered account. The more information about the partner, the better. The buyer needs to thoroughly check the information that their partners provide including phone numbers, emails, bank accounts, business registration certificate, and other legal documents … If involved significant transactions, more emphasis on risk management especially understanding business partners through corporate intelligence investigation, background studying adverse media search on company, owners, shareholders, business managers through professional background check consultants in Vietnam whom understand languages, cultures, legal environment and business practices could help.