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VietNamNews

Planning ministry promotes on-line auctions

Update: August, 11/2012 - 08:33

HA NOI — Viet Nam would save billions of US dollars annually if it could fully apply the online bidding method, according to the Ministry of Planning and Investment (MPI).

The mechanism would also save time, increase transparency, and minimise corruption, said director of MPI's Bidding Management Department Le Van Tang.

According to the MPI, the total value of bidding contracts in Viet Nam was about US$20 billion, accounting for around 20 per cent of the country's GDP.

Tang said that after trialling the method for the past three years, about 1,700 bidding offers and 600 bidders had registered to trade online, with 30,000 tenders posted and 200 successfully completed bids.

"The MPI will continue to promote the application of online bidding by gradually enhancing the awareness of businesses as well as offering more online trading training to bidders," he said.

Tang said the Government would invest some VND200 billion to boost online trading on a nationwide scale.

"But we (the MPI) will ask the Government to choose a private company to implement the project as it will save investment costs," he added.

However, Tang said a number of businesses remained hesitant to utilise the mechanism, despite some 3,500 businesses having registered electronic signatures.

"Many of them are still unfamiliar with this advanced method and its transparency and competitiveness" he added.

Tang also attributed this hesitance to the inability of businesses to apply IT as well as poor network infrastructure.

"There are many things that need to be done in order to make online bidding more popular," he said.

He added that agencies and enterprises should be aware of the global trend of using online bidding and the necessity of upgrading technological infrastructure and increasing transmission capacity.

"It would be better to compile regulations stipulating the required percentage of online bidding packages and punishments for violations in order to ensure that they are obeyed seriously and effectively." — VNS

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