Vietnam to Increase Trade Promotion Activities in 2006

Vietnam plans to organize 225 trade fairs in 2006, said the Trade Promotion Department under the Ministry of Trade at a conference on the national trade promotion program for the 2006-2010 period held in Hanoi on December 27.

 

The Government will cover all expenses from booth rental to air fares for overseas exhibitions and fairs with an aim to assist local enterprises intensify their market survey activities, the department also said.

 

Under previous regulations, the State subsidized only part of these costs.

 

The State spent VND195 billion (roughly US$12 million) to support trade promotion activities in 2005, a year-on-year increase of 29 per cent. The money was poured into 184 promotion projects at a total cost of VND322 billion (US$20.4 million) in key areas covering garments, footwear, tea and coffee, among others. The remaining money came from private enterprises.

 

These projects were reported to have greatly contributed to propelling the country’s export turnover this year to US$32.23 billion, a 21.6 per cent year-on-year rise.

 

More efforts must be made to help Vietnam notch up US$100 billion from exports per year in the future, Deputy Trade Minister Luong Van Tu said.

 

The Trade Ministry targets total export earnings of US$38 billion next year.
Youth, Labour