| National Trade Promotion Program: Spillover effect Ministry of Industry and Trade issues Orientation for developing project of National Trade Promotion Program 2024 |
Strengthen support for trade promotion activities
In 2023, according to the Management Board of the National Trade Promotion Program, Ministry of Industry and Trade, trade promotion activities with the core being the National Trade Promotion Program have been implemented with the orientation of diversifying markets and export products; enhancing the exploitation of opportunities from markets with FTAs; strengthening regional and inter-regional trade promotion activities to be more sustainable and balanced, ensuring a stable and long-term market for export activities, and improving the efficiency of the entire economy.
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| Large-scale international fairs and exhibitions held in Vietnam with the aim of increasing exports and developing the domestic market. Photo: Vinexad |
Accordingly, in 2023, the Ministry of Industry and Trade approved and supported the leading units to implement 121 projects (including 88 projects on foreign trade development and 33 projects on domestic market development) with a total implementation cost of 136 billion VND with the contents focusing on trade promotion activities to develop foreign trade and develop the domestic market in the direction of promoting support for trade promotion activities for key markets, new markets, and potential markets; strengthening concentrated, large-scale, regionally linked trade promotion activities such as organizing regional fairs and exhibitions, organizing programs connecting suppliers with exporters, and guiding localities to develop plans to rotate the organization of specific regional projects.
Immediately after the program was approved, the National Trade Promotion Program Management Board closely coordinated with trade promotion agencies of ministries, branches, industry associations, local trade promotion agencies, and mass media to disseminate information and guide businesses to proactively select, develop, and participate in appropriate trade promotion activities.
At the same time, the National Trade Promotion Program Management Board has announced and coordinated with the Vietnamese trade office system abroad, Vietnamese trade promotion offices abroad, foreign trade promotion organizations that are partners of the Trade Promotion Agency to support the units in charge of implementing the projects. At the same time, support Vietnamese enterprises to participate in specialized and multi-industry fairs and exhibitions in key markets, arrange working programs, trade between Vietnamese and foreign enterprises, invite international importers to participate in transactions with Vietnamese enterprises, organize trade, connect between importers and domestic enterprises, etc.
According to preliminary statistics of the results of the projects under the Program implemented in 2023, some positive results have been recorded, specifically: Supporting more than 10,000 businesses to directly benefit (not including businesses that benefited through access from the media); hundreds of contracts, export and cooperation minutes were signed directly at trade promotion events with a total value of over 125 million USD; direct sales at regional fairs and markets reached nearly 150 billion VND, attracting more than 200,000 visitors and shoppers.
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| Trade promotion activities are promoted on digital platforms. Photo: Vinexad |
Outstanding activities
Some outstanding trade promotion activities in 2023 have been implemented, such as: Promoting the diversification of domestic and foreign markets. Specifically, organizing large-scale international fairs and exhibitions in Vietnam with the goal of increasing exports, developing the domestic market, improving capacity to participate in the global value chain; organizing participation in specialized and multi-industry fairs and exhibitions of scale in Vietnam's key export markets such as China, the United States, ASEAN countries, etc.
Connecting local suppliers with exporting enterprises and trade promotion organizations. Through that, it has connected enterprises with representative agencies and foreign trade promotion organizations in Vietnam, creating conditions for enterprises to find stable input sources for production and export as well as grasp the diverse tastes of many markets, accessing solutions to promote direct consumption of goods into domestic and export distribution networks.
In addition, in order to synchronously and drastically implement solutions to develop the domestic market, stimulate domestic consumption, promote production, circulation and consumption of goods to contribute to the recovery and development of the country's economy under the direction of the Government, the Trade Promotion Department has advised the Ministry of Industry and Trade to approve the organization of the National Concentrated Promotion Program 2023 - Vietnam Grand Sale 2023 from December 4, 2023 - January 10, 2024 nationwide. The program is one of the important and practical contents in implementing the key tasks and solutions set forth by the Ministry of Industry and Trade, helping to maximize the domestic market to increase total retail sales of goods and consumer service revenue in the year-end period, contributing to maintaining economic growth in 2023.
In addition, regularly and promptly provide information to Vietnamese enterprises and industry associations about the market, trade promotion opportunities, import and export needs, taking advantage of signed FTAs to have plans and strategies for export and market access; at the same time, early warning of trade barriers and protection policies in markets through organizing a series of monthly trade promotion conferences with the Vietnam Trade Office abroad starting from January 2023 with general topics on the global market, in-depth topics by market group and export industry group.
In particular, the work of enhancing the capacity of enterprises and the trade promotion organization system is focused on through training activities on skills in planning, managing and implementing trade promotion events for the host units; coordinating with the Department of Industry and Trade, the Trade Promotion Center and the Cooperative Union in the locality to organize a series of training programs on digital platforms (livestream) in production areas and growing areas for agricultural products.
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| Training program on digital platform (livestream) in production areas and growing areas for agricultural products. Photo: Department of Trade Promotion |
Based on the results achieved in 2023, according to the plan, the National Trade Promotion Program in 2024 will continue to improve the effectiveness of trade promotion, focusing on promoting trade promotion and export promotion activities for key markets, especially making the most of the market's export potential, promoting the effectiveness brought about by free trade agreements, especially new-generation free trade agreements such as CPTPP, EVFTA, RCEP... Thereby diversifying export markets, avoiding dependence on a number of markets, especially supporting businesses to participate in trade promotion activities in new markets, potential markets that businesses have not directly accessed, in which priority is given to promoting activities providing market information and trade promotion opportunities.
In particular, it will strengthen support for the development and implementation of large-scale, regionally-connected, concentrated trade promotion activities for products and industries with regional strengths in target markets, enhance the coordination of resources from ministries, branches, localities, enterprises, international organizations, etc.; effectively combine trade promotion activities with investment and tourism promotion, etc. Complete the set of indicators to assess trade promotion capacity, thereby creating a basis for developing support programs for trade promotion organizations and enterprises to improve their trade promotion capacity to meet the requirements and adapt to new trends of global import markets such as green trade and green growth; continue to promote the application of information technology and digital transformation in trade promotion.
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