Trade promotion to focus US$5.8m on key markets

Vietnam is planning to launch a VND136 billion (US$5.8 million) trade promotion programme in 2020, focusing on expanding key markets and enabling Vietnamese firms to join global value chains.

trade promotion to focus us$5.8m on key markets hinh 0
A buyer selects fruit at a fair in Hanoi. Vietnam's trade promotion programme in 2020 aims to enable Vietnamese firms to participate more in the global value chain. - VNA/VNS Photo Dinh Tuan

Deputy Minister of Industry and Trade Do Thang Hai made the announcement at a conference yesterday to review 2019 and gear up for 2020.

Promotion activities must be made more diversified to attract more participants, Hai stressed.

Hai said the ministry would enhance co-operation with other ministries, associations and localities to boost the quality and efficiency of trade promotions in order to maintain and expand Vietnam’s key export markets.

In addition, the programme would focus on building Vietnamese brands with strategic products, while providing support for firms to join high added value global supply chains.

According to Vu Ba Phu, director of the Vietnam Trade Promotion Agency, the programme would also promote e-commerce to seek customers and develop markets.

In 2019, more than 205 promotions were implemented with total spending hitting VND125 billion.

The national trade promotion programme has provided support for more than 5,000 participant companies in both domestic and foreign markets this year.

Phu said it had contributed significantly to boosting Vietnam’s exports, which were estimated to reach $500 billion this year.

VNS