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Further Supporting Vietnam Exporters to Access Global Markets
Post date: 6/29/2018 5:41:20 PM
Vietnam is a popular name on the world export map. But, to sustain export growth, the country must have comprehensive solutions: promoting production development; creating high-quality goods for export; raising added value; especially having effective information channels to support and facilitate exports.

Mr Nguyen Quang Vinh, General Secretary of the Vietnam Chamber of Commerce and Industry (VCCI), said this when delivering the welcome address at the Seminar on “Supporting Vietnamese Exporters” held in Hanoi on June 28. The event was attended and supported by foreign trade and investment promotion agencies in Vietnam like the Swiss Import Promotion Programme (SIPPO), the American Chamber of Commerce (AmCham), the Korea Chamber of Commerce, the Japan Chamber of Commerce and the European Chamber of Commerce, as well as other prestigious partners. This was also a good opportunity for domestic and foreign businesses to connect, exchange and seek business and cooperation opportunities.

Exporters have played a very important role in Vietnam’s economic growth in recent years, he said. Key exports include agricultural and seafood products, processed industrial products, industrial components, computers, electronic devices and parts. However, exporters, especially small and medium-sized enterprises (SMEs), are still weak at forecasting market supply and demand, lack of information on export policies and markets, competitors and potential importers. Meanwhile, their export production and support service costs are still high.

Over the past years, VCCI has done a good job of supporting businesses in general and exporters in particular, Mr Vinh added. VCCI has carried out many national business support programmes and projects to improve their competitiveness, integration and sustainable development. These projects have helped enterprises enhance their competitiveness and accelerate international integration. The seminar was a starting event of the programme with a lot of specific activities and events in the 2018 - 2020 period, like building the Vietnam Export Gateway, hosting workshops on export support and business matches; publishing Vietnam Export Handbook and organising the Annual Vietnam Export Forum.

Mr Nguyen Viet Hung, Director of the Department of National Single Window (NSW) and the ASEAN Single Window (ASW) under the General Department of Vietnam Customs, said that Vietnam’s trade revenue was estimated at US$225.29 billion in the first two quarters of 2018, a year on year growth of 13 per cent, of which exports accounted for US$113.93 billion, up 16 per cent, and imports valued US$111.36 billion, up 10.2 per cent. Nearly 70,000 exporters and importers traded with foreign partners in the reporting period, up 8 per cent.

Exports will grow well in 2018, expected at a double-digit speed and twice as high as GDP growth, he said. Specifically, exports were projected at US$240 - 242 billion, up 13 per cent from 2017. The trade value will reach US$475 - 477 billion, up 11.5 per cent over 2017. The trade surplus will be modest in the year. The country’s yearly trade turnover was expected to climb to US$500 billion in November 2019 and Vietnam hoped to have 100,000 importers and exporters by 2020.

Dr Tran Dinh Thien, Director of the Vietnam Institute of Economics, said that this showed the new approach of the Government to macro stability and growth platforms rather than short-term acceleration efforts. Remarking on investor attracting factors in Vietnam, he pointed out that 72.3 per cent of survey respondents rated the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) as the most important international event that affects the Vietnamese investment environment in 2018. In addition, such factors as abundant natural resources, stable inflation, competitive labour costs and stable economic growth are investment catalysts in Vietnam.

Vietnamese exporters have enormous opportunities to boost shipments to big markets like the United States when imports from its major partners such as China are levied high tariffs, Mr Thien said, adding that since imports from these countries find it harder to enter the US, exports from other nations, including Vietnam, will move stateside. This will be an ample opportunity for many businesses, especially FDI firms (buying cheap inputs, components and spare parts), to enhance export competitiveness and increase export shipments to the US.

The seminar also highlighted export support services and exporter support information like opportunities to access preferential capital for exporters; lessons learned in accessing export markets; freight insurance and export credit guarantee. These are practical connecting information channels, highly effective for domestic and international exporters and importers.

Vietnam is a popular name on the world export map. VCCI General Secretary Vinh said, with these advantages, Vietnam's exports will have the chance to expand into the world market in the coming time. But, to sustain export growth, the country must have comprehensive solutions: promoting production development; creating high-quality goods for export; raising added value; especially having effective information channels to support and facilitate exports.

He always supports Vietnamese companies and organisations in general, and Vietnamese exporters in particular, to enhance their competitiveness, boost exports and expand international markets.

Especially, to assist foreign importers to search for comprehensive information on Vietnamese markets and exports of Vietnam and to help Vietnamese exporters to directly access foreign customers, VCCI launched the Vietnam Export Gateway in English at http://export.vccinews.com.

Thu Ha

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