HA NOI (VNS)— Viet Nam has been advised to set up a control management system on strategic goods to promote exports and increase investment.
Strategic goods are military goods and so-called "dual-use" items that may have both civilian and military use.
The message was delivered at a conference on strategic goods management in Ha Noi on Tuesday.
The export of strategic goods is subject to controls. Deputy Minister of Industry and Trade Nguyen Cam Tu said that in the context of global integration, the management system would ensure security and sustainable development.
Tu said Viet Nam had had high export growth rates with an export turnover of US$29.69 billion in the first quarter of the year, increasing 19.7 per cent over the same period last year.
In addition, several foreign businesses had chosen Viet Nam for their production and for export to other countries. Tu said the country has promulgated policies to facilitate exports while ensuring defence and security.
Sharing the ideas, the US Embassy's Deputy Chief of Mission Claire Pierangelo said Viet Nam had made efforts to ensure global commercial security.
She said the country should build a complete legal framework which would prevent illegal transactions. George Tan from Bryan Cave Sin Consultancy Firm said Vietnamese exporters should build their own inside control procedures to prevent illegal actions.
He said the annual market value of "dual-use" items in the world was $800 billion to $1 trillion.
He gave an example of smart phones which had intelligent chips being used to launch a rocket.
Representatives from Singapore and Malaysia said Viet Nam could establish its system based on four international common mechanisms.
In addition, ASEAN had been striving to set up an economic community by 2015, creating a common market, allowing goods of member countries transferred to each other.
They said Viet Nam should quickly complete its management system to meet ASEAN common standards. — VNS