MoIT should give more support to businesses in expanding markets: VCCI
Workers at NutiFood Nutrition Food Joint Stock Company in the southern province Bình Dương work during the province's lockdown. VNA/VNS Photo
The Ministry of Industry and Trade (MoIT) needs to give more support to enterprises in establishing stable and reliable distribution channels for expanding trade promotion activities and consumption markets, especially for agricultural products.
This is one of the recommendations from the Việt Nam Chamber of Commerce and Industry (VCCI) to complete a draft Government resolution on support for and development of business in the 2021-25 period, compiled by the Ministry of Planning and Investment.
MoIT should also organise national brand promotion campaigns and national trade promotion programmes with support from Việt Nam’s trade offices and trade promotion centres aboard.
Based on those, the ministry would establish channels on market information, connection and support for enterprises in doing business and taking advantage of opportunities from free trade agreements, thereby promoting export market expansion.
This ministry needs to review the legal framework for the development of domestic trade on online platforms, limiting commercial fraud, and building sanctions to promote the development of domestic commerce and e-commerce.
At the same time, MoIT should have support for building electronic trading floors to enhance the consumption of domestic products and expand export markets, said VCCI.
The chamber has also proposed tasks for the Ministry of Agriculture and Rural Development (MARD), including coordination with the MoIT in expanding domestic and international markets for Vietnamese agricultural products; and increased negotiations with potential markets for such products.
MARD needs to set up more facilities and centres of testing products according to technical standards, such as sanitary and phytosanitary (SPS), and technical barriers to trade (TBT) for exported agricultural and aquatic products and handling issues relating to those standards. That would reduce costs for those activities.
According to VCCI, tasks relating to stimulating demand and expanding markets should be implemented with regular and efficient coordination of the business community via VCCI and other associations.
The chamber has suggested that the drafts should stipulate more coordination with ministries, sectors and localities for VCCI and commodity associations in implementing trade promotion programmes and promoting domestic consumption.
VCCI and the associations also have support for the businesses in joining the programme "Vietnamese people give priority to using Vietnamese goods" and programmes on stabilising prices and trade promotion.
At the same time, they need to actively participate in important bilateral and multilateral agreements in the region and the world, and to carry out trade and investment promotion activities. Those activities would improve Việt Nam’s integration and attract more foreign investment to the country.
They would implement programmes on providing information and training for enterprises in the process of carrying out preferential commitments in free trade agreements.
In addition, they would support businesses to effectively cope with arising international trade barriers, especially trade remedy lawsuits in export markets. They would have recommendations relating to the negotiation of free trade agreements.
Regarding solutions in building supply chains of major Vietnamese commodities, VCCI has also suggested building a large commodity trading floor with futures contracts, helping farmers and producers minimise price risks.
In addition, to improve the business and investment environment, VCCI has proposed adding dialogues with ministries and sectors into the draft to remove difficulties and obstacles relating to mechanisms and policies.
Along with that, the Government working group should closely coordinate with VCCI and commodity associations to assist businesses in recovering production and business after the COVID-19 pandemic, seeking new investment opportunities in Việt Nam.
Ministries and sectors should be responsible for sharing information on policies and regulations related to domestic and foreign enterprises with the business community via VCCI and commodity associations. VNS
Related News
Unlock capital flows and create favorable conditions for investors
10:22 | 27/03/2024 Import-Export
Businesses hunts for effective implementation of Resolution 02
16:07 | 14/03/2024 Headlines
Businesses expect reforms to be effective, substantive and put into practice
09:23 | 10/03/2024 Import-Export
Finance sector abolishes 40 administrative procedures
09:23 | 10/03/2024 Regulations
Latest News
Import turnover of 19 commodity groups grows over 20%
15:34 | 29/03/2024 Import-Export
Vietnam owns significant advantages in attracting FDI
15:24 | 29/03/2024 Import-Export
Nearly 7,000 tariff lines of AKFTA product specific rules need to be transposed
15:20 | 29/03/2024 Import-Export
Vietnam needs to cook up stronger global rice brand
15:09 | 29/03/2024 Import-Export
More News
Vietnam advised to fully tap CPTPP to boost exports to Canada
15:08 | 29/03/2024 Import-Export
ASEAN, RoK agree on transposition of AKFTA product specific rules
15:00 | 28/03/2024 Import-Export
Opportunities for digital technology businesses to go global
14:58 | 28/03/2024 Import-Export
Vietnam, China eye stronger border trade
14:57 | 28/03/2024 Import-Export
Improve competitiveness and sustainable development of the seafood industry
09:51 | 28/03/2024 Import-Export
Business environment reform needs further promotion: expert
14:47 | 27/03/2024 Import-Export
Singapore is the largest foreign investor in VN in Q1
14:43 | 27/03/2024 Import-Export
Thai Binh boosts investment, trade cooperation with Germany
14:38 | 27/03/2024 Import-Export
Lifting obstacles to develop industrial parks
10:24 | 27/03/2024 Import-Export
Your care
Import turnover of 19 commodity groups grows over 20%
15:34 | 29/03/2024 Import-Export
Vietnam owns significant advantages in attracting FDI
15:24 | 29/03/2024 Import-Export
Nearly 7,000 tariff lines of AKFTA product specific rules need to be transposed
15:20 | 29/03/2024 Import-Export
Vietnam needs to cook up stronger global rice brand
15:09 | 29/03/2024 Import-Export
Vietnam advised to fully tap CPTPP to boost exports to Canada
15:08 | 29/03/2024 Import-Export