Experts and business executives attend a two-day conference on exports in HCM City. — Photo courtesy of conference organisers

HCM CITY — Meeting market standards and regulations, encompassing certification requirements and mandates for clean, safe, and environmentally responsible products have emerged as crucial factors for success in penetrating international markets, particularly the US, a two-day conference, titled "Penetrating Global Market with a focus on the US Market," heard in HCM City.

As an intitiative of the Improve Private Sector Competitiveness project, the conference sought to provide businesses with insights to exploit market prospects for Vietnamese agricultural products and foodstuffs in the US, emphasising the requisite certifications and standards for export ventures.

Industry experts stressed that market entry remains a formidable hurdle not only for small and medium-sized enterprises but also for larger corporations.

Vietnamese enterprises consistently aspire to access established markets like the US and EU, but face an array of challenges beyond supply capacity and competitive pricing, they said.

Speaking on the sidelines of the conference, Nguyễn Thị Bích Thuỷ, deputy head of the small and medium-sized department at the Enterprise Development Agency, said the US market is huge for Vietnamese companies especially with its consumption habits changing after COVID-19 pandemic.

Vietnamese exporters need a good understanding about regulations and requirements in export markets, she said.

Companies must have a good consultant to understand more about overseas markets to access them, and they need to be proactive in seeking information and establishing a roadmap, she added.

The speakers at the conference spoke about how Việt Nam's agricultural sector, in the era of international economic integration, has seamlessly integrated into the global agricultural value chain, propelling the nation into the group of top 15 agricultural exporters globally and second in Southeast Asia.

Despite the prominence of Vietnamese seafood, agricultural products, foodstuffs, pharmaceuticals, and beverages in exports, trade barriers do persist.

A notable gap exists among Vietnamese businesses in the understanding of food and pharmaceutical safety regulations, and import protocols in discerning markets such as the US.

Insights from leading e-commerce platforms like Amazon, market consultants, and successful exporters were exchanged at the conference, shedding light on effective export pathways.

Experts from the US Department of Agriculture's Animal and Plant Health Inspection Service provided perspectives on how businesses could navigate practical requirements, fortifying their business plans and export strategies.

The Enterprise Development Agency has undertaken various support initiatives under the aegis of the Improve Private Sector Competitiveness project in Việt Nam. The project is funded by US Agency for International Development’s (USAID) and is managed by the Enterprise Development Agency under the Ministry of Planning and Investment

Its training modules on market expansion, consulting services, digital transformation, financial accessibility, and more have been well received by businesses, catalysing notable interest and participation in these capacity-building programmes. — VNS