The monthly sales briefing has a very good impact on export industries, such as textiles, footwear, wood, etc. Photo: N.Thanh

Timely business support

According to Dr. Nguyen Quoc Viet, Deputy Director of the Institute for Economic and Policy Research, University of Economics (Vietnam National University, Hanoi), the initiative to organize a periodic "Conference on trade promotion with foreign markets" has a positive meaning in the context that the world and regional economic situation is evolving very unpredictably.

“In the current context, each country has new post-Covid-19 strategies for economic development, trade, investment, etc. to cope with the uncertainties of the economy. Vietnamese enterprises also need to update information on strategies and new requirements of the export market. Through the briefing, the Ministry of Industry and Trade will have the necessary support policies, consult information, connect and introduce more effectively to businesses, especially with orders that require higher standards quality in difficult markets,” said Viet.

Dang Phuc Nguyen, General Secretary of the Vietnam Fruit and Vegetable Association said that for the fruit and vegetable industry, currently there is not much market information from the trade deals, and there is no specific update on needs, barriers or advantages in each country.

Through trade deals, businesses want to know the tastes and quality standards of each market. Simultaneously with the briefings, the Trade Office will also get more accurate information sooner from the enterprises themselves, from which the Ministry of Industry and Trade will give specific instructions for export enterprises.

With regard to the textile and garment industry, Pham Van Viet, Chairman of the Board of Directors of Viet Thang Jean Co., Ltd. said in the context that the textile industry is facing difficulties in output, finding new markets is very necessary.

Therefore, having monthly briefings is a very good move. “During these meetings, many issues will be submitted to the leaders of the Ministry of Industry and Trade by the Trade Offices, including information on new markets, potentials and challenges of each market. Thereby, this will help businesses determine which markets are good at this time, which industries are easy to access and exploit.”

Analyzing the Nordic market in detail, Nguyen Hoang Thuy, Head of the Vietnam Trade Office in Sweden, said that issues of environmental protection, green consumption and the trend of shifting to sustainable production are increasing, affecting people's consumer behavior here.

Nordic consumers are willing to pay 20-50% higher for products with certification of environmental protection or social responsibility. Another trend among Nordic consumers is novelty, specialty products that are promoted as beneficial to health. These products are often associated with stories about regions. Products qualified for export, registered for geographical indication.

"In the context that the world is constantly changing, fast and sensitive information is the key to success for businesses. The deal is trying to become an "antenna" and "arm" extending to the world of enterprises. Besides, in the past, when businesses had problems, the Trade Office would immediately send an official dispatch to the Ministry, but the process through many stages takes time, sometimes affecting business activities. Currently, if any problems arise during the month, the Trade Office can directly ask for opinions at the briefing, shortening the process of dealing with the enterprise's problems," said Thuy.

Prioritize discussion of new and urgent issues

Nguyen Hoang Thuy said that the provision of general information on markets, localities and associations should be compiled into a document provided to the participants in advance for research and only brief and brief reports at the meeting. In order to improve efficiency, the conference should add a number of sessions to discuss outstanding issues such as how policy changes in other countries are likely to affect the interests of enterprises; new consumption trends; investment opportunities, business in the area, warnings, and recommendations. Priority should be given to discussing new and urgent issues, removing difficulties to support localities, associations and enterprises to develop production, expand markets, promote exports as well as attract investment.

“Besides, should consider having thematic briefings, such as about a market area or a specific export product. These events can invite more associations, businesses and industries to directly listen to the recommendations and opinions of businesses. At the same time, this is also an opportunity for dealers to share directly about the market's policy changes," said Thuy.

Evaluation of the monthly sales meeting is very good for the wood industry in particular and other export industries in general, but Mr. Nguyen Chanh Phuong, Vice Chairman of the Ho Chi Minh City Handicraft and Woodworking Association (HAWA) said that the briefings should invite more associations to participate. From there, associations can get information in the fastest and most accurate way on the issues that each association cares about.

In order to improve the efficiency of foreign market work and export promotion, Nguyen Hong Dien, Minister of Industry and Trade, suggested that Overseas Vietnamese Trade Offices continue to deepen research and master the needs, tastes and requirements of the market, thereby advising the Ministry on market development strategies, trade connections, production development and diversify markets and export products.

With associations, industries and businesses, leaders of the Ministry of Industry and Trade suggested regularly updating the situation of enterprises, proactively providing information, and exchanging with units of the Ministry and related ministries and branches, the Vietnamese Trade Offices abroad, and jointly implement effectively.

In addition, enterprises need to strictly and fully comply with regulations and policies of the State, instructions of ministries and branches in organizing production, business and import-export activities, ensuring traceability and processes, regulations, requirements, conditions of foreign markets and commitments of the Free Trade Agreements (FTAs) that our country has signed.