Building a Decree on strategic trade control

Speaking at the meeting, Minister Nguyen Hong Dien affirmed that the urgent development and promulgation of a Decree on strategic trade control is extremely necessary in the current context, especially when Vietnam is focusing all resources to build a modern, sustainable and highly competitive economy in the international arena.

In recent times, the shifting trend of global value chains has helped Vietnam gradually become an attractive destination for investors, especially for industries that produce high-tech products such as electronics, computers and especially semiconductor technology. In order to ensure technology transfer activities and expand the scale of production of high-tech products, major trade partners have proposed that Vietnam research and develop a strategic trade control mechanism to improve technology control capacity, increase the ability to enforce intellectual property rights protection, and minimize the possibility of these source technologies being transferred to third countries without the consent of the exporting country;

In addition, strategic trade control is both Vietnam's obligation in implementing international commitments and also demonstrates Vietnam's responsibility in protecting international security and peace. Vietnam, as a country with strong import-export growth, in the top 20 countries with the largest trade scale and having trade relations with most countries and a diverse range of import-export products, is increasingly interested in proposing to build a legal framework for strategic trade control, and include it in bilateral coordination programs.

In addition, Vietnam is also actively implementing many specific solutions to move towards a harmonious and sustainable trade balance with many major trade partners, such as the United States or the European Union EU. Therefore, building an effective strategic trade control mechanism also creates a solid foundation for increasing the import of high technology and source technology from this market, thereby helping to balance the trade balance.

This is also one of the contents that the Minister of Industry and Trade - Special Envoy of the Prime Minister discussed with the US Trade Representative and relevant US ministries and branches during his working trip to the United States in March 2025. This is Vietnam's statement realized in specific legal documents at the Government level, demonstrating its determination and desire to cooperate with the United States in a sustainable manner.

Also at the Drafting Committee meeting, the Drafting Committee members agreed on the necessity of promulgation, scope and subjects of regulation, as well as some basic contents of the draft Decree. The Minister of Industry and Trade directed the Standing Editorial Team to promptly receive comments and complete the draft to submit to the Government as soon as possible.

It is expected that tomorrow the Ministry of Industry and Trade will begin receiving comments to complete this Decree.

Nhat Thu

Source: https://baophapluat.vn/xay-dung-nghi-dinh-ve-kiem-soat-thuong-mai-chien-luoc-post544140.html