23 Jul, 2018

Vietnam to boost trade and investment cooperation with key strategic partners

Prime Minister Nguyen Sinh Phuc signed Decision No. 213 / QD-TTg on the 12th of February 2018 approving the project “Strengthening bilateral trade and investment cooperation between Vietnam and other key strategic partners”

The project was developed by the Vietnam Chamber of Commerce and Industry (VCCI) in order to further promote trade and investment cooperation with Vietnam’s key strategic partners in Vietnam. The strategic partners include the following nations: Germany, France, Italy, Spain, England, Russia, the United States and nine countries in Asia including China, Japan, South Korea, India, Indonesia, Thailand, Singapore, Malaysia and Philippines.

VCCI together with Vietnamese enterprises, business associations and government agencies will be responsible for the execution of the project which is focused on the following activities:

  1. In-depth studies and surveys of enterprises to assess and resolve their demands, constraints and difficulties.
  2. Strengthening the national competitiveness through the enhancement of two-way public-private dialogue mechanism between government agencies and domestic and foreign enterprises.
  3. Supporting small and medium enterprises (SMEs) to access advanced technologies, production innovation in order to gain access to global value chains.
  4. Supporting Vietnamese enterprises to catch up and take advantage of the benefits of signing trade agreements and commitments with key strategic partners.
  5. Raising the competence of people in charge of trade and investment promotion throughout the country in order to meet the requirements of international economic integration.
  6. Regularly updating and disseminating information about the markets of Vietnam’s strategic partners on online portal and newsletter.

The implementation of this project is expected to contribute positively to the relationship between Vietnam and its key strategic partners. In a closer view, the project will create a favorable trade and investment conditions for both foreign and domestic enterprises while strengthen the production efficiency as well as the quality of Vietnam’s exporting products.