Business

4.5 million USD for national trade promotion

The national trade promotion programme in 2018 will support key sectors, markets and prioritise the development of brand names of some key products.
4.5 million USD for national trade promotion ảnh 1Many businesses take opportunities to expand their market through the national trade promotion programme
(Photo: VNA)

Hanoi (VNS/VNA) - The nationaltrade promotion programme in 2018 will support key sectors, markets andprioritise the development of brand names of some key products.

The programme with an approved budget of 103billion VND (4.5 million USD) will implement 156 projects. It includesactivities to develop markets and export products, such as organisation ofexhibitions both inside and outside the country, welcoming foreign importersand providing trade information.

In addition to these, the programme willlaunch trade promotional activities to develop the local market, especially inrural, remote and mountainous areas.

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

After years of implementation, the nationaltrade promotion programme has become an effective channel to develop markets.Last year, some 7,000 businesses enjoyed the programme’s activities. The totalcontract value and direct transactions at the programme’s events reached morethan 569 million USD in foreign countries and 324 billion VND in the localmarket.

Phan Thi Thanh Xuan, general secretary ofthe Vietnam Leather, Footwear and Handbag Association, said that afterattending the national trade promotion programme for 14 years, leather shoecompanies had not only procured new orders and expanded their markets but alsoformed an association for themselves.

According to Xuan, the total export turnoverof the sector surged from 3 billion USD in 2003 to 18 billion USD in 2017,partly thanks to the programme. It is expected that the turnover this year willreach 20 billion USD.

The programme is expected to see moresuccess, as the Government promulgated Circular 28/2018/ND-CP, stipulating somesolutions 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 supportthrough the programme. The Ministry of Industry and Trade will manage theprogramme.

It also stipulates that projects should suit thereal demands of the business community, as well as export strategies. - VNS/VNA
VNA
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