Thursday, August 16 2018

VietNamNews

$4.5m for national trade promotion

Update: March, 16/2018 - 09:00
Many businesses take opportunities to expand their market through the national trade promotion programme. — Photo vietnamplus.vn
Viet Nam News

HÀ NỘI — The national trade promotion programme in 2018 will support key sectors, markets and prioritise the development of brand names of some key products every year.

The programme with an approved budget of VNĐ103 billion (US$4.5 million) will implement 156 projects. It includes activities to develop markets and export products, such as organisation of exhibitions both inside and outside the country, welcoming foreign importers and providing trade information.

In addition to these, the programme will launch trade promotional activities to develop the local market, especially in rural, remote and mountainous areas.

This year’s programme has new features compared with the previous years, as it has approved 11 projects in the mid-term to help businesses build their trade promotion plans in the 2018-20 period.

After years of implementation, the national trade promotion programme has become an effective channel to develop markets. Last year, some 7,000 businesses enjoyed the programme’s activities. The total contract value and direct transactions at the programme’s events reached more than $569 million in foreign countries and VNĐ324 billion in the local market.

Phan Thị Thanh Xuân, general secretary of the Việt Nam Leather, Footwear and Handbag Association, said that after attending the national trade promotion programme for 14 years, leather shoe companies had not only procured new orders and expanded their markets but also formed an association for themselves.

According to Xuân, the total export turnover of the sector surged from $3 billion in 2003 to $18 billion in 2017, partly thanks to the programme. It is expected that the turnover this year will reach $20 billion.

The programme is expected to see more success, as the Government promulgated Circular 28/2018/NĐ-CP, stipulating some solutions to develop foreign trade.

The circular clearly defines contents, budget and support principles for the national trade promotion programme. Products and sectors which have the potential for exports will be given support through the programme. The Ministry of Industry and Trade will manage the programme.

It also stipulates that projects should suit the real demands of the business community, as well as export strategies. — VNS

 

         

 

 

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