Vietnam boosts trade ties with strategic partners
Updated : Thursday, February 22, 2018 9:40 AM (GMT+0700)

Vietnamplans to promote bilateral trade and investment links with strategic andimportant partner countries in the time ahead, towards fostering economicgrowth and expanding export markets. 

Illustrative image - Source: VNA

The recently approvedproject also aims to increase enterprises’ competitiveness and their awarenessof integration, enabling them to intensively join the global value chain. 

It is hoped to help improvethe national competitiveness, promote administrative reform and fine-tunebusiness climate while perfecting the socialist-oriented market economyinstitution. 

Under the scheme, effortswill be made to fully tap business advantages, increase the quality andeffectiveness of trade and investment promotion activities, and fosterconnection among ministries, sectors and business associations inside andoutside the country in the work. 

Attention will be paid tobettering the quality of products and production methods through applying hightechnologies to meet export demand, and increase links among domestic andforeign businesses. 

Small and medium-sizedenterprises (SMEs) will be updated on information and forecasts related tomarket, politics and exchange rate fluctuation; while other businesses willalso be assisted in training human resources to improve their knowledge ofinternational economic integration, bilateral and multilateral free tradeagreements(FTAs) that Vietnam signed with foreign partners. 

Focus will be placed ontaking advantage of investment trade agreements and calling for more investmentprojects from Vietnam’s important and strategic partner countries. 

Coordination between theVietnam Chamber of Commerce and Industry (VCCI) and business associations andbetween domestic agencies and representative agencies abroad will bestrengthened, towards promoting the country’s economic development. 

Through implementingactivities of the project, the VCCI will report and summit solutions to theGovernment, contributing to overcoming difficulties in trade and investmentcoordination between Vietnam and strategic and important partnercountries. 

Surveys will be carried outto assess the needs, limitations and difficulties of enterprises and marketpotential so as to select markets for export and investment. 

Public-private dialoguemechanism and investment promotion will be bolstered, while SMEs will besupported in accessing advanced technologies and modernise production, helpingthem make inroads into more markets in strategic and important partnercountries and join the global value chain.


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