Latest news with #MoIT
The Star
19-07-2025
- Business
- The Star
Enterprises in Vietnam expect further trade promotion
HANOI: As global markets remain volatile and unpredictable, Vietnamese enterprises are placing high expectations on trade promotions and export strategies to help them navigate ongoing challenges. The newly issued directive of Prime Minister Pham Minh Chinh, called Directive 18, on solution to promote trade lays out a strategic framework aimed at invigorating domestic and foreign trade promotion in 2025, signalling a robust governmental commitment to economic recovery and sustainable development. Directive 18, issued on June 18, 2025, focuses on a transition from broad-based trade promotion to a more focused, in-depth approach. Its objective is to increase the market share of Vietnamese goods in both traditional markets and those with free trade agreements (FTAs). Domestically, the emphasis is placed on strengthening the internal market as a key pillar of economic resilience. The Ministry of Industry and Trade (MoIT) has also issued a decision to make a detailed action plan to implement Directive 18. The plan underscores the importance of promoting diverse, high-impact trade initiatives tailored to key international markets like the EU, the US, China, Japan, South Korea, and Asean nations. One of the ministry's priorities is to strengthen the implementation of trade promotion programmes for Vietnamese products in both established and emerging markets. In addition to targeting regions with established FTAs, the plan includes strategic expansion into niche and high-potential markets such as the halal segment -- Saudi Arabia, Egypt and the UAE. Key industries targeted for promotion include high-tech sectors like semiconductors, artificial intelligence, automation, machinery, and renewable energy. These efforts are aimed at positioning Vietnam not just as a manufacturing hub but also as a key player in advanced technology supply chains. Meanwhile, the Trade Promotion Agency is tasked with coordinating cross-sectoral efforts and organising national-scale events like Vietnam International Sourcing 2025, a flagship initiative designed to connect Vietnamese firms with international buyers, retailers and distributors. The MoIT's Import-Export Department has been directed to provide enterprises with timely updates on trade policies, consumer trends and technical regulations in FTA markets. Seminars and training will be organised to help businesses fully exploit tariff incentives and comply with international standard, particularly in terms of traceability, environmental compliance and labour regulations. Minister of Industry and Trade Nguyen Hong Dien has also stressed the need to assess bilateral trade balances with major partners such as the US, the EU and China, and to identify opportunities for expanding exports of high value-added goods. The MoIT's Department of Foreign Market Development will play a crucial role in building a dynamic export market database. It will coordinate with trade offices abroad and international trade bodies to monitor and analyse developments in tariffs, quality standards and sustainability requirements across markets in the EU, North America, Asia and beyond. Domestically, the ministry's Department of Domestic Market Management and Development will focus on campaigns, such as 'Vietnamese giving priority to Vietnamese goods', integrating them with broader promotional schemes to boost domestic consumption. Local trade fairs and promotional events will bring Vietnamese products to remote, rural, and economically disadvantaged areas. The strategy aims at enhancing the visibility and accessibility of local brands across the country. Digital commerce is another critical pillar of the action plan. The Department of E-commerce and Digital Economy will spearhead collaborations with major e-commerce platforms to boost Vietnamese products online. Through cross-border e-commerce and regional integration, these programmes aim to accelerate the digital transformation of Vietnamese enterprises and improve their competitiveness in both domestic and international markets. A yarn production line at Ha Nam Textile Co Ltd. The textile and garment industry needs to build domestic material supply chains. - Photo: VNA/VNS file Enterprise opinions Business leaders have largely welcomed Directive 18 as a timely and strategic intervention. Ly Kim Chi, chairwoman of the HCM City Food and Foodstuff Association, said that the directive provided necessary guidance in protecting the authenticity of Vietnamese goods, combating counterfeiting and leveraging digital transformation. "However, enterprises need a detailed action plan announced at the beginning of the year – what products, which markets, the type of support available and the financial terms,' she said. This would enable businesses to plan proactively instead of reacting passively due to information gaps, she added. Chi also noted the importance of aligning import policies with export strategies. Without a well-thought-out sourcing strategy for raw materials and components, Vietnamese exports could lose competitiveness in global markets. 'Supporting small and medium-sized enterprises through financial policies and structured guidance is essential for trade promotion efforts to be truly effective,' she said. Nguyen Van Muoi, deputy general secretary of the Vietnam Fruit and Vegetable Association, said that despite progress in trade promotion by the MoIT and the Ministry of Agriculture and Environment, budget limitations had restricted participation. 'Our association can only join two trade promotion programmes a year, which is insufficient for the number of member businesses we represent,' Muoi said. The volatility in China – a market that once consumed 64 per cent of Vietnam's fruit and vegetable exports – underscored the urgency of diversification. Durian exports, for instance, had seen a sharp decline due to stricter quality control. So, 'trade promotion alone is not enough. Quality is key,' he said, citing a dramatic market share loss in China to competitors like Thailand. In the textile industry, Pham Van Viet, vice chairman of the HCM City Textile, Embroidery and Knitting Association, highlighted the importance of building domestic supply chains. 'To build strong national brands, we must first be proactive in raw material sourcing,' Viet said. He stressed that while many businesses were trying to explore new markets like Australia and Canada, the process was slow and would require strategic, long-term support from the Government. He also called for more structured financial and technical support to help enterprises comply with FTA requirements and boost their competitiveness. The effectiveness of this directive will depend on seamless coordination between central agencies, trade offices abroad, local departments and the business communities. With full implementation, Directive 18 could be a turning point in helping Vietnamese enterprises overcome global challenges and build long-term economic resilience in 2025 and beyond. - Vietnam News/ANN
Fibre2Fashion
04-07-2025
- Business
- Fibre2Fashion
Vietnam's total trade turnover up estimated 15.5-15.8% YoY in H1 2025
Vietnam's total trade turnover in the first half (H1) this year was an estimated $426-430 billion—a year-on-year (YoY) rise of 15.5-15.8 per cent, according to the Ministry of Industry and Trade (MoIT). Export turnover reached an estimated $215-217 billion—up by nearly 14 per cent YoY. This led to a trade surplus of $3.4-4 billion during the period. Vietnam's total trade turnover in H1 2025 was an estimated $426-430 billionâ€'a YoY rise of 15.5-15.8 per cent. Export turnover reached an estimated $215-217 billionâ€'up by nearly 14 per cent YoY. This led to a trade surplus of $3.4-4 billion in the period. In May 2025, textile exports hit $3.84 billionâ€'a 6-per cent YoY rise and the highest monthly export value ever recorded for May. The trade performance has broadly met government expectations and exceeded those in some areas. Textile and footwear exports saw high growth. In May 2025, textile exports reached $3.84 billion—a 6-per cent YoY increase and the highest monthly export value ever recorded for May, surpassing the surge seen in May 2022 amid post-pandemic over-ordering. Vietnamese textile products are now exported to 132 markets, with the United States being the largest importer, accounting for $6.97 billion worth imports during the first half this year—up by 17 per cent YoY. External risks persist, including trade policies of major economies, global price volatility, and geopolitical tensions, a domestic news agency reported. Vietnam has set a 2025 export growth target of 12 per cent, equivalent to about $450 billion in export turnover. The target remains within reach if the current growth pace is sustained in the second half of the year. Trade promotion activities will be intensified with a focus on professionalism and adaptability to evolving global conditions. Fibre2Fashion News Desk (DS)
Fibre2Fashion
01-07-2025
- Business
- Fibre2Fashion
Vietnam issues new circular on issuance of certificates of origin
The Ministry of Industry and Trade (MoIT) recently issued a fresh circular detailing the issuance of certificates of origin (C/O) and written approvals for self-certification. The circular takes effect from today. In case of changes to relevant legal documents, implementation shall be based on the latest amended or supplementary regulations. The circular authorises two groups of entities to carry out the work: the import and export department under the MoIT, and organisations assigned by provincial-level People's Committees. The latter are required to organise the implementation of C/O issuance within 90 days from the effective date of the circular. The Ministry of Industry and Trade (MoIT) recently issued a fresh circular detailing the issuance of certificates of origin (C/O) and written approvals for self-certification. The circular takes effect from today. It authorises two groups of entities to carry out the work: the import and export department under the MoIT, and organisations assigned by provincial-level People's Committees. Both are responsible for issuing C/Os and written approvals, provided they meet the required conditions regarding human resources, physical infrastructure, fee collection accounts and digital infrastructure connected to the eCoSys electronic certification system, according to domestic media reports. The circular emphasises the principle of uniform and comprehensive state management over goods origin, while ensuring strict compliance with Vietnam's international commitments. It also affirms that implementation must not disrupt the enforcement of treaties or international agreements related to origin. The technical infrastructure of this system is managed by the department of e-commerce and digital economy, which is also responsible for ensuring data connectivity with the National Single Window portal. Fibre2Fashion News Desk (DS)
Fibre2Fashion
22-06-2025
- Business
- Fibre2Fashion
Vietnam cautions bizs as Middle East conflict threatens global trade
Vietnam's Industry and Trade Ministry (MoIT) recently cautioned domestic businesses to closely monitor the escalating Israel-Iran condlict that threaten to disrupt global trade. Addressing a press conference, Tran Thanh Hai, deputy director of MoIT's Agency of Foreign Trade, called for rigorous scrutiny of export-import contracts, particularly key terms concerning freight charges, delivery schedules, insurance coverage, and force majeure provisions, to shield against disruptions. He cautioned businesses against the risks of leaning too heavily on a single market or shipping lane. Vietnam's Industry and Trade Ministry recently cautioned domestic businesses to closely monitor the escalating Israel-Iran conflict that threaten to disrupt global trade. A top ministry official called for rigorous scrutiny of export-import contracts, not leaning too heavily on a single market or shipping lane, and diversification into new markets and finding logistics partners with safer routes. He advocated diversification into new markets and finding logistics partners with safer routes. Supply chain resilience, he insisted, hinges on contingency plans – alternative raw material sources or, perhaps, the adoption of multimodal transport solutions like international rail freight, which could optimise costs and ensure timely deliveries, according to domestic news agency. Maintaining open lines with import partners is also key to navigating volatile conditions, he noted. He urged companies to work closely with shipping lines, airlines and freight forwarders to monitor routes, transit times and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism. He also called for heightened vigilance against foreign exchange risks. Fibre2Fashion News Desk (DS)
Fibre2Fashion
12-06-2025
- Business
- Fibre2Fashion
Vietnamese Industry & Trade Ministry approves e-com master plan
Vietnam's Ministry of Industry and Trade (MoIT) recently approved the master plan for e-commerce development between 2026 and 2030. The target is to optimise the entire value chain using advanced technology, while ensuring a balance between economic progress, social equity and environmental protection, and enhance the value and global competitiveness of the country's e-commerce industry, a domestic news agency reported. The plan is aligned with national strategic initiatives, including those on digital transformation, digital economy and digital society, and sector-specific programmes led by the ministry. Vietnam's Industry and Trade Ministry has cleared the 2026-2030 e-commerce master plan. Its aim is to optimise the value chain using advanced technology, while ensuring a balance between economic progress, social equity and environmental protection, and enhance the value and competitiveness of the sector. Sustainability forms a cornerstone of the strategy, with specific environmental targets. It outlines six focus areas: developing and refining regulatory frameworks and market policies for e-commerce; strengthening digital, logistics, and cashless payment systems to support sustainable growth; building digital platforms for both state management and a green, resilient e-commerce market; leveraging local advantages in resources and talent for integrated e-commerce ecosystems; improving e-commerce adoption among businesses, households, and individuals; and expanding global partnerships to adopt advanced standards, access new technologies, and enter international markets. It involves cultivating a unified and efficient e-commerce ecosystem, with efforts to strengthen regional and international linkages, ensuring that resources are mobilised and utilised effectively. The online market for Vietnamese products will be expanded, both within the country and abroad. The plan seeks to close the development gap between urban and rural areas and promote a shift toward a greener, circular e-commerce model. The government is targeting an increase in the proportion of adults shopping online to 70 per cent. It also aims to boost the annual growth rate of e-commerce retail sales to 20-30 per cent, with the sector accounting for a fifth of the country's total retail turnover. Efforts will also be made to reduce the proportion of websites violating consumer rights to 5-10 per cent. By 2030, 70 per cent of businesses in Vietnam are expected to adopt e-commerce in their operations, as per the plan. All commercial transactions are to be accompanied by electronic invoices, and four-fifths of payment transactions are to be conducted without the use of cash. The government also expects three-fifths of small and medium enterprises (SMEs) to operate on e-commerce platforms. The plan wants to ensure that at least half of all business-to-consumer (B2C) transactions take place outside of Hanoi and Ho Chi Minh City, and three-fifths of communes and equivalent local administrative units will have online sellers. It will encourage leveraging the unique advantages of different regions, such as raw materials, production capabilities, logistics networks, and local talent, to promote regionally integrated e-commerce systems. Sustainability forms a cornerstone of the strategy, with specific environmental targets. The plan sets a goal to reduce the use of plastic packaging to no more than 45 per cent and to raise the share of recycled packaging to 50 per cent. It also aims for at least 40 per cent of e-commerce logistics businesses to use clean energy in their operations. Additionally, 50 per cent of enterprises will be required to adopt green packaging standards. The plan aims at 60 per cent of higher education and vocational training institutions offering programmes related to e-commerce. Fibre2Fashion News Desk (DS)
