Saturday, July 20,2024 - 4:15 GMT+7  Việt Nam EngLish 

Measures to support domestic enterprises to increase exports 

 Friday, June 7,2024

AsemconnectVietnam - Domestic enterprises are gradually rising to dominate the market, exploiting the advantages that Vietnam has as a member of free trade agreements.

However, more solutions are needed to increase the proportion of exports, because currently FDI enterprises still account for a large proportion of total export turnover.
Participating in explaining and clarifying a number of opinions raised by National Assembly delegates at the questioning session on a group of issues in the field of industry and trade on the afternoon of June 4, Minister of Industry and Trade Nguyen Hong Dien stated a series of solutions to support Vietnamese businesses to increase exports.
Explaining and clarifying some opinions raised by National Assembly delegates, Minister of Industry and Trade Nguyen Hong Dien agreed with the delegate's views and said that FDI enterprises account for a large proportion of exports, about 73%, due to its strengths in capital, technology, brand and distribution network many years ago. Meanwhile, domestic enterprises with limited resources are gradually penetrating the market.
Furthermore, FDI enterprises produce and export high-tech industrial products, so the value is always superior to that of agricultural products of domestic enterprises.
The Minister said that exporting FDI enterprises is also in line with the Party and State's policies in the early stages because attracting FDI investment help them to get conditions for integration and learning experience in technology transfer as well as market access.
“However, Vietnam's goals in integration are not only measured by free trade agreements, projects of foreign investors, or annual increases in import-export turnover. The measure here is by the health of the country's economy, by the integration of Vietnamese businesses in the global production and supply chain, this is the big goal," Minister Nguyen Hong Dien emphasized.
However, the leader of the Ministry of Industry and Trade also acknowledged that domestic businesses have achieved quite good integration in recent times thanks to the approach and connection between businesses. The proof is that in 2023, the export proportion of domestic enterprises decreased lower than that of foreign enterprises. In the first 5 months of this year, the absolute export value of domestic enterprises increased by about 24%, while the increase of foreign enterprises was only 12%. This proves that domestic businesses are gradually rising to dominate the market, exploiting the advantages that Vietnam has, which is a member of free trade agreements.
To support Vietnamese enterprises in increasing their export proportion, the Ministry of Industry and Trade advocates supporting enterprises in increasing the source of high-quality, stable goods to compete with goods from foreign enterprises in Vietnam; as well as promoting FDI enterprises, especially large enterprises to connect and transfer technology and management skills to domestic enterprises to develop, especially supporting industries.
Besides, we also need to diversify trade activities, promote trade, support businesses to exploit incentives from FTA Agreements; develop exports through e-commerce; continue to promote negotiations and sign new agreements in areas with great potential; support information, warnings and guidance for businesses to effectively respond to foreign trade defense lawsuits.
To increase the export proportion of domestic enterprises, one of the solutions emphasized by the Ministry of Industry and Trade is to build brands for agricultural products.
In building agricultural product brands, the Ministry of Industry and Trade has coordinated with ministries, branches and localities to focus on supporting the development of agricultural and food brands at 3 levels. The first is the industry brand on a national scale in the National Trade Promotion Program; the next are product brands carrying geographical indications, collective brands, and certification brands at the local level. The third is the enterprise-scale product brand in Vietnam National Brand Program.
At the same time, the Ministry of Industry and Trade is also coordinating with relevant ministries to implement a coordination plan between 3 ministries, including: Ministry of Industry and Trade, Ministry of Science and Technology, Ministry of Agriculture and Rural Development on support to register to protect trademarks and geographical indications for potential Vietnamese export products. The above support activities have contributed to make Vietnam the 15th largest agricultural exporter in the world and the second largest exporter in Southeast Asia.
Source: VITIC/


 © Vietnam Industry and Trade Information Center ( VITIC)- Ministry of Industry and Trade 
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