Vietnam to Raise Spending for National Trade Promotion Program

The Vietnamese prime minister has decided to raise investment for the national trade promotion program this year, aiming to boosting exports and goods consumption amid the global economic downturn, said Do Thang Hai, Head of the Trade Promotion Department Feb 24.

 

The amount of additional spending will be announced later, Mr Hai added.

 

Early this month, the department said that the government will funnel VND90 billion (US$5.32 million) from state coffer for the national trade promotion program this year, much lower than VND300 billion proposed by the Ministry of Industry and Trade (MoIT) and businesses associations.

 

The MoIT has given the green light to 44 national trade promotion programs totaling VND63 billion (US$3.7 million) in the first phase this year, which will be organized by 21 business associations and the ministry’s trade promotion agency.

 

These programs will target the U.S., Europe, Japan, China, Russia, Hong Kong, Dubai, and the Czech Republic. (Labor, New Hanoi)