This requirement is stipulated in the newly issued Decree 08/2022/NĐ-CP detailing some articles of the revised Law on Environmental Protection 2020. More specifically, it is obligatory for individuals and organizations, who import scraps for manufacturing, to make deposits at the national or local Environment Protection Fund or credit institutions depending on where their transaction accounts were opened. This means these individuals and organizations must be responsible for the environmental risks possibly triggered by the imported scraps.
The amount of the deposit depends on the volume of the imported scraps. Accordingly, it varies from 10% to 20% of the total value of the shipment. Guidance on the management of the deposit is also specified. In case it is verified that the imported scraps pose environmental risks, the deposit will be returned to the individuals and organizations importing scraps.
Presently, the following sectors must make environmental protection deposits: mining exploitation, waste disposal, and importing scraps for manufacturing.
Sources & further information: “Regulations on environmental protection deposit for scrap imports” at https://english.haiquanonline.com.vn, “Ký quỹ môi trường: Lấp khoảng trống trong quản lý phế liệu nhập khẩu” at https://baotainguyenmoitruong.vn, and “Quy định ký quỹ bảo vệ môi trường trong nhập phế liệu phục vụ sản xuất” at https://baochinhphu.vn, accessed on 24 February 2022.