With support from USAID, the Vietnam Digital Trade activity will be implemented over 3 years to support the Ministry of Industry and Trade in implementing policy frameworks to facilitate digital trade with input from the private sector.
On October 13, in Hanoi, the US Mission to Vietnam and the Ministry of Industry and Trade launched a $3.25 million activity funded by the US Agency for International Development (USAID) to promote digital trade, through the signing of a memorandum of understanding between USAID and the Ministry of Industry and Trade.
Representatives of the Ministry of Industry and Trade and USAID signed a memorandum of understanding on cooperation to implement "Vietnam Digital Trade Activities". (Photo: US Embassy in Hanoi)
Dubbed “Vietnam Digital Trade Activity,” the collaboration is part of the Comprehensive Strategic Partnership announced during US President Joe Biden’s visit to Vietnam last September.
USAID Vietnam Director Aler Grubbs said that during his recent visit to Vietnam, President Biden emphasized the US commitment to supporting Vietnam in improving its competitiveness in the global digital economy.
“This new activity, jointly implemented by USAID and the Ministry of Industry and Trade, is the first activity to be implemented under the newly upgraded partnership between the two countries and is important in contributing to unlocking the potential of digital trade to become a key driver for the country’s continued growth,” said USAID Vietnam Mission Director Aler Grubbs.
The Ministry of Industry and Trade and USAID also agreed that the “Vietnam Digital Trade Activity” will advance the US Indo-Pacific Economic Framework for Prosperity (IPEF), in which Vietnam and the US work together to harness the power of innovation and pursue high-standard digital economy rules to promote continued growth. This activity builds on the US’s successful partnership with Vietnam over the past two decades to promote trade and improve the business environment.
Specifically, with support from USAID, the “Vietnam Digital Trade Activity” will be implemented over 3 years to support the Ministry of Industry and Trade in implementing policy frameworks to facilitate digital trade with input from the private sector.
Regulations that meet the needs of the private sector will remove bottlenecks in trade and increase policy transparency, thereby helping to create an e-commerce industry where businesses of all sizes can benefit.
In addition, “Vietnam Digital Trade Activities” also encourages small and medium-sized enterprises to participate in digital trade by introducing new business models and best practices, such as traceability of goods, as well as facilitating cross-border connections between businesses through the Ministry of Industry and Trade’s digital trade promotion platform DECOBIZ.
The support activities of the Vietnam Federation of Commerce and Industry (VCCI) and the Vietnam E-commerce Association (VECOM) to promote digital commerce nationwide will be implemented through the Ministry of Industry and Trade and business associations, targeting women-owned businesses and minority communities to support inclusive economic growth.
Vietnamnet.vn
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