The Ministry of Industry and Trade (MoIT) and the Vietnam Chamber of Commerce and Industry (VCCI) on May 7 signed a cooperation agreement to support businesses after the COVID-19 pandemic.

At the signing ceremony (Photo: VNA)

Accordingly, the two sides would build a comprehensive cooperation programme with three key actions including completing laws, institutions and international treaties in the industry and trade sector; ensuring equality in accessing resources and business opportunities; and creating a favourable environment for start-ups and innovation firms.

The programme also provides specific actions in sectors under the MoIT’s management such as domestic and international trade, competition, market management, energy and global economic integration.

The programme clarifies rights and duties of each side in implementing activities.

Speaking at the signing ceremony, Minister of Industry and Trade Tran Tuan Anh said VCCI has been a prestigious organisation which has consulted the Government in economic development while protecting rights of Vietnam’s business community to further integrate into the world’s economy.

“The coordination of VCCI with the Ministry of Industry and Trade has been an important foundation to bring support policies to businesses. VCCI has also been an important information channel for ministries and sectors,” Anh said.

VCCI Chairman Vu Tien Loc said MoIT has been one of the pioneers in implementing policy reform that have big effects on the business community. The ministry’s sharp cut in business conditions under its management has promoted import-export activities in the past few years.

In addition, MoIT has made great efforts in expanding markets and negotiations of FTAs to support firms’ development. The ministry has always listened to ideas from enterprises through VCCI to better serve the business community.

“Vietnam has a lot of opportunities in the context of deep international integration. In addition to preparation in infrastructure, institution and trade promotion, local firms should be active in accessing big multinational groups and economic centres to join in restructuring global value chains. MoIT should closely cooperate with VCCI as well as the business community to implement the task,” he added.