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