Trade Promotion Focused for US$31.5Bln Export Value in 2005

Trade Promotion Focused for US$31.5Bln Export Value in 2005

Deputy Trade Minister, Luong Van Tu announced a major national trade promotion programme at a press conference in Hanoi on March 9, 2005. “Trade promotion is all-important,”he said. “To achieve this year’s target of US$31.5 billion export turnover, the Prime Minister has approved in principle 169 plans from 28 agencies. Seven long-term plans approved in previous years and five short-term plans adopted in 2004 have been allowed to be transferred to 2005. Total investment for these plans reaches VND 321.88 billion, of which VND 195.12 billion will come from the State’s support”.

Among 28 agencies and organisations, there are five new agencies and organisations acting as focal points in trade promotion activities in 2005, including organisations and agencies from ministries, business associations, and corporations. They include the Vietnam Chamber of Commerce and Industry, the Vietnam Association of Bike and Motorbike Manufacturers, the Vietnam Salt Corporation, the Vietnam Association of Automation Science and Technology.   

New goods and markets and major goods and markets for this year have been identified within 17 groups of goods. The 18^th group include goods to be exported for the first time, or goods for export only, and goods with export resumption after interruption. In the coming time, the Vietnam Trade Promotion Agency and the Ministry of Trade will develop a new programme entitled ’Vietnam Week’ to include tourism and trade promotion activities. 

After two years’ implementation, the effectiveness of the national major trade promotion programme can be seen through the many contracts signed by Vietnamese enterprises with foreign partners, let alone the good results evident in enterprises’ promotion of their image and reputation. As a result, the total value of signed contracts increased from US$81.85 million in 2003 to US$287.56 million in 2004, or an increase of 350 per cent. Also, many enterprises have found partners to set up joint ventures in Vietnam, for example the programme of the Vietnam Software Association and the Department of Economics of the Ministry of Defence. This highlights the good results of the implementation of trade promotion plans. Deputy Trade Minister Tu said that in 2005, the Ministry of Trade and the Vietnam Trade Promotion Agency would concentrate on improving trade promotion activities via programmes for human resource development for managers and staff members in foreign countries. In the coming time, trade promotion policies will experience a change for the better. To this end, proposals on the amendment of mechanisms and policies for the implementation of the major national trade promotion programme will be discussed to reach an agreement between the Ministry of Trade and the Ministry of Finance for adjusting the existing legal documents relating to this field.

Ngo Van Thoan from the Vietnam Trade Promotion Agency said that without trade promotion activities, there would be no economic growth. The national trade promotion programme will help concentrate resources on each concrete field, so they can become more effective.

• Kim Phuong