Enterprises request for supports from Vietnam’s oversea representative offices

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The Meeting. Photo: H. Diu

On 23 May 2017 in Ha Noi, the Vietnam Chamber of Commerce and Industry (VCCI) held a meeting with heads of Vietnam’s oversea representative offices for period 2017-2020.

Highly appreciating the cooperation efficiency of Vietnam’s oversea representative offices in supporting enterprises in the international markets, Deputy Chairman of the VCCI called on enterprises to bravely present difficulties with heads of Vietnam’s oversea representative offices or with the VCCI or relevant agencies for exact, clear and appropriate instructions.

At the meeting, Mr. Vu Quang Minh, Assistant to the Minister cum Director General of the Department of Economic Integration, Ministry of Foreign Affairs, Ambassador Extraordinary and Plenipotentiary of Vietnam to Cambodia stated that foreign economic relations were one of the key tasks of economic development. Therefore, the Vietnam’s oversea representative offices were proactive in providing information on economic policies, business opportunities and market changes in the local countries.

Especially, according to Mr. Minh, the Vietnam’s oversea representative offices were playing an important role in helping Vietnam’s enterprises for information verification about foreign partners and customers.

“When I worked in the US, I and the VCCI helped Vietnam’s enterprises to avoid the loss of US $ 5 -7 million due to “ghost” contract and “ghost” enterprises. The cheats of foreign enterprises are very common and extremely sophisticated if the representative offices do not promptly inform and warn the enterprises, they are vulnerable to fraud, causing great economic losses, "shared by Mr.Vu Quang Minh.

Also at the meeting, representatives of enterprises and associations presented their problems to heads of the representative offices for assistance and cooperation.

Regarding the assistance in seeking for foreign partners and customers, Mrs. Nguyen Thi Nguyet Huong, President of VID Holdings Vietnam said that, in the ASEAN group, Thai Lan invested much in Vietnam, so the representative offices should hold more promotion programs to attract the investment and create greater effectiveness.

“The Vietnam’s product distribution is facing many difficulties in seeking distributors. Therefore, the Ministry of Foreign Affairs should search new financial policies, create conditions for the representative offices to hold large-scale trade events and promotion programs to attract foreign partners”, Mr. Huong suggested.

On the same point, Mr. Mac Quoc Anh, Deputy Secretary General and Vice Chairman of Hanoi Association of Small and Medium Enterprises also proposed to create funds from the support and contribution of enterprises for better promotion programs. In particular, the representative offices and associations should sign a cooperation agreement to promote and introduce Vietnamese enterprises’ products.

In addition, enterprises also asked the head of representative offices for help to promote trade for some potential products such as software, hi-tech pharmaceuticals and cosmetics.

"The company has a project worth about $ 4 million on researching hi-tech pharmaceutical products, but has not conditioned enough to create high-yield synthetic enzymes and does not thoroughly process the scent of products despite cooperation with a research laboratory in Germany, so we would like to ask the heads of the representative offices to look for suitable partners in the local market for cooperation. " said by a representative of Thai Duong Star., JSC

Especially, for risky markets like the Middle East, Mr. La Manh Tien, General Director of Vietnam Tea Corporation, said that Vietnam's tea exports accounted for more than 90%, of which, the Middle East countries had a great demand for tea, but now enterprises in these markets were often "lonely" and did not receive much support from the Vietnam’s diplomatic agencies, causing difficulties for enterprises in verifying partners, sales and debt recovery.

“The Corporation really determine on opening the Middle East market regardless of political instability because this market will be a potential market. The Corporation expects to receive the support and cooperation from the representative offices” Mr. Tien shared.

After listening, requests from enterprises, Head of Vietnam’s oversea representative offices showed their determination to further support and facilitate enterprises in the coming period.

According to Mr. Vu Quang Minh, after the meeting, the representatives will work with the VCCI to find a measure to establish a fund to support the trade promotion programs and the fund shall be contributed by enterprises and organisations and shall be publicised and used effectively.

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Furthermore, he also suggested that enterprises should carefully study contracts and clearly understand foreign language and law of such markets to avoid risks and troubles causing losses for enterprises.