While the national economy is integrating deeply with the global economy, innovations are required to enterprises in order to satisfy international commitments and meet the actual situation of each enterprise...
To improve business capacity
According to provincial Department of Industry and Trade, in 2018, the province's export turnover was estimated at 25.280 billion USD, up 15.6% compared to 2017, exceeding 0.1% compared to the plan 2018. Pham Van Xo, Chairman of Binh Duong Association of Import and export, said the association actively set up action programs in accordance with their goals. Due to the opening and integration process, trade promotion is considered one of the key tasks to export enterprises. He hoped to find new enthusiastic factors together with the association’s Executive Committee to bring Binh Duong import and export enterprises to new heights.
Delegates have small discussions at Conference of connecting agricultural supply and demand in Binh Duong province in 2018.
At the latest convention of Binh Duong province Import and Export Association, representatives of Vietnam Chamber of Commerce and Industry (VCCI) provided information and advices on policies, laws and knowledge of international economic integration for its business members. VCCI also asked the association to regularly update information of businesses, markets, import and export products from database of Ministry of Industry and Trade and other related ministries and sectors in order for provincial enterprises to promptly catch up, make necessary adjustments in production structure and capacity to meet production and export requirements of the integration period.
Dr. Le Van Hy, Editor-in-Chief of Vietnam Logictics Magazine, said that Binh Duong province Import-Export Association needed to strengthen its role and improve operational efficiency of business associations in supporting business integration, as well as connecting the State with businesses. Besides, the association needs to soon complete its legal status; effectively implement regulations on the participation of enterprises in policy making; strengthen resources and operational capacity of business associations, especially in matters related to integration.
To make good use of advantages
According to the assessment, free trade agreements (FTAs) are opportunities for Vietnam to go deeper into the world market. However, this is also a big challenge to domestic enterprises.
Nguyen Hai Vu, Development and Marketing Director of Genier Partiner Group, said that integration was a long-term and equal playground for businesses. The competition that continues in the coming time is inevitable, and the elimination of import tax brings many benefits to enterprises. He said that the most difficult to logistic enterprises was the overload of ports and transport, leading to high logistics costs compared to other countries. In the future, if Binh Duong builds deep-water ports and boosts freight transportation by waterway, it will be a big motivation for enterprises to develop and meet import-export demands of enterprises in the coming time.
Tran Ngoc Liem, Deputy Director of VCCI - Ho Chi Minh City Branch, recommended that in the short term, CPTPP had not impacted much on the growth of Vietnamese businesses, especially SMEs. However, in the long term, businesses must actively strengthen management capacity, renew the quality of human resources, connect to global supply chains, and create competitiveness to take advantage of every opportunity brought by FTAs. Because of integration, in the long term, enterprises must have a development strategy, build brand name and set up distribution system to consumers to move quickly, steadily, and not only win at home but also penetrate into international market.
According to Mr. Liem, to support Vietnamese enterprises, the Government enacted laws to support SMEs. Currently, VCCI also develop a project of connecting enterprises funded by the US Government, promoting the connection of Vietnamese enterprises to the supply chain. He noted that domestic enterprises needed to take advantage of the support of CPTPP’s member countries to enhance technological application, innovation, production process improvement, and application of international standards and techniques to surpass technical barriers to trade activities. Furthermore, domestic enterprises need to actively participate in value chains together with domestic and foreign partners to facilitate the development of technology, production and cooperation with foreign countries to access the global supply chain...
Reported by Tieu My – Translated by Ngoc Huynh
