Mr. Hoang Minh Chien (photo), Deputy Director of the Department of Trade Promotion, Ministry of Industry and Trade

Market expansion brings many opportunities for Vietnamese businesses to export goods, but it also brings risks in trade. In your opinion, in the current context, what do businesses need to do to identify and prevent possible risks?

In the context of Vietnam's deep integration into international trade, a series of free trade agreements have been signed, opening the door to international trade transactions for Vietnamese businesses. This is a huge opportunity, but it comes with risks, the most present of which is the risk related to fraud and deception in international trade.

When Vietnamese businesses determine to participate in international trade, import and export activities, they first need to equip themselves with knowledge related to international trade transactions, especially Knowledge related to contract signing, technical processes and steps to verify information with partners.

Businesses need to have a team of professional staff in charge of international trade activities to have professional contract transactions. In addition, businesses can also refer to and use lawyer consulting services and international trade consulting services of law firms and international professional brokerage trading companies. For import-export businesses, the number one rule is to always be vigilant, verifying information must be top priority.

On the part of the Ministry of Industry and Trade, it will continue to carry out a number of coordinated activities with localities, industry associations, relevant ministries, departments, branches, and Vietnamese representative agencies abroad to provide information and experience in international trade transactions. In addition, activities related to training and capacity building for Vietnamese businesses are also implemented. At the same time, trade agencies will be a bridge to help Vietnamese businesses and verify information related to partnerships and customers that Vietnamese businesses are conducting in international transactions.

How has the system of Vietnamese trade agencies abroad promoted its role in informing the market situation in the host country, sir?

In recent times, Vietnamese trade agencies abroad have played an important role in supporting businesses to promote the export of goods to world markets. The main trade agency is Vietnam's representative abroad with the functions and tasks of supporting, providing and updating information about the market and tastes for each industry and product to Vietnamese businesses. South so that Vietnamese businesses can consider and consider their export orientation. The trade system also updates the host country's legal regulations on each type of goods and specifically.

In addition, the trade agency is also a bridge to support Vietnamese businesses in connecting with relevant agencies and sectors of the host country, as well as searching and supporting to find partners. potential for Vietnamese businesses.

In recent times, the system of trade agencies has also coordinated closely with functional agencies of the Ministry of Industry and Trade in Vietnam, as well as localities to organize trade and export promotion activities exports to Vietnamese businesses. Specifically, bringing foreign business delegations and investors to localities to search and connect with Vietnamese businesses. Thereby contributing positively to Vietnam's import and export results.

What are the solutions that will be implemented in 2024 to continue to support businesses in export promotion, sir?

- The Ministry of Industry and Trade continues to implement a number of activities to support businesses in promoting and boosting exports to the market, in which, the authorities will coordinate closely with the Vietnamese trade agency in Vietnam abroad to continue implementing trade and export promotion activities on a large scale and with greater efficiency. For example, implementing large foreign international fairs and exhibitions in specialized fields such as agricultural products, beverages, food; Industries such as industry, supporting industries, textiles and garments... are industries and products that Vietnam has strengths in, to promote more trade between domestic enterprises and foreign enterprises.

In addition, support activities for businesses, localities, and industry associations continue to be implemented promptly to update and provide information about the market and new legal regulations of countries. From there, localities, businesses, agencies and sectors understand and have appropriate export orientations and strategies.

At the same time, a series of activities related to training and capacity building are implemented for the Vietnamese business community in international trade, in preventing and combating international trade fraud and scams.

In addition, we will focus on further promoting propaganda work for localities and the business community to better understand international trade and issues to pay attention to when participating in the international market; as well as recommendations related to potential export markets for specific fields and industries. Therefore, promoting import-export activities in particular and economic development activities in general.

Thank you Sir!