The event was an opportunity to discuss improved competitiveness and opportunities for Vietnamese export firms offered by the country’s increasingly number of trade agreements.
Vietnam’s export turnover reached 162 billion US dollars in 2015, up 8.1% compared to 2014. 23 groups of products saw export turnover exceed 1 billion US dollars. Such results were achieved thanks to effective co-operation between the government and exporters.
Bui Huy Son, Head, Trade Promotion Agency, Ministry of Industry and Trade said: The government have co-operated with local authorities and manufacturing associations to improve competitiveness in terms of productivity and prices, in order to promote Vietnam’s position in the global production chain. We’ve offered firms assistance in design capacity and access to domestic and foreign markets as well as multinational companies and international distribution channels.
Vietnam’s increasing exports need stability. Experts believe that Vietnamese businesses still lack detailed strategies to promote key export products. These strategies may include the control over raw material sources or domestic trade promotion.
Atsusuke Kawada, Chief Representative, Japan External Trade Organisation (JETRO) said: In order to ensure the stability of Vietnam’s exports, attention should be paid to domestic trade promotion, besides obvious requirements such as product quality, origin and punctuality. For example, Phở and Áo Dài were already favoured by Vietnamese themselves before proving their brands in foreign markets.
"I think that Vietnamese products are competitive in terms of quality and price, compared to products from neighbouring countries. However, for the export of these products to be stable, Vietnamese enterprises should look more closely into demand in foreign markets. They should also be more adaptable to market changes", Hwang Jeong Uk,Senior Manager, Global Sourcing Team added.
According to experts, businesses should pay attention to technical and tax barriers. They should also actively participate in the supply chains of multinational enterprises. Upgraded production lines, product quality improvement and brand building are also required in today’s competitive environment.
