Footwear products made at My Phong shoe company in Tra Vinh Province’s Chau Thanh District. Vietnam is advised to enter a second export wave of high added value products. (Photo: VNA)HCM City (VNA) – Businesses should cooperate closely with theGovernment to usher in a second export wave of products with higher added-valueand promotion of brands, participants at a seminar in HCM City said on August 8.
According to Nguyen Phu Hoa, deputy head of the Ministry of Industry andTrade’s Import and Export Department, the second wave is crucial given theworld has entered the tech-based Fourth Industrial Revolution that istranforming society, services and trade.
For example, in Japan and the US, humans are working with robots while China istargeting more modern production similar to the Republic of Korea’s andJapan’s.
Vietnam’s first export wave, in which businesses exported raw material, isover.
The seminar pointed out that certain foundations would need to be establishedto successfully develop the second wave.
The first is setting up a system to share know-how innovated with the supportof the Government, according to participants.
This kind of sharing will enable companies to access new technologies, talentsand scientists.
Thus, all research outcomes must be shared and published so that they could beapplied.
The second requirement is creating trust and confidence since now manyconsumers doubt the origin and quality of goods.
Thirdly, a competitive infrastructure needs to be developed.
Hoa said one huge thrust would be needed to upgrade roads, bridges, ports, andlogistics facilities to serve production and exports.
"But exports cannot be competitive when traffic jams occur regularly whengoods are on the way to airports and ports," and this problem should befixed soon, he said.
Yasuo Nishitohge, general director of Japanese retailer AEON Vietnam, saidVietnamese goods suppliers were constantly improving their products and skills,and now supplied 81 percent of all items sold in his supermarket.
Fred Burke, governor of American Chamber of Commerce (AMCHAM) in HCM City, saidnotwithstanding the Trans-Pacific Partnership (TPP) shock, Vietnam’s growth andreform continued apace.
“The orientation may shift but the US remains a key export market, albeit withnew challenges.”
Beyond the TPP, there were many factors boosting Vietnamese exports, he said.
The ASEAN Economic Community established in 2015 had created an economic blockof substance, and free trade agreements with the EU and Korea and the RegionalComprehensive Economic Partnership would have multiplier effects, he said.
The entry into effect of the Trade Facilitation Agreement was another boost, hesaid, adding that Vietnam was staying the course in its global integrationstrategy.
“Identifying the target markets and managing risk in export activities” wasorganised by the Investment and Trade Promotion Centre.
A report from the Ministry of Industry and Trade has said that in the firstseven months of this year the country’s estimated exports were 115.2 billionUSD, nearly 19 percent higher year-on-year.
Some 20 products exceeded the 1 billion USD export mark.
Exports to markets that have signed free trade agreements with Vietnam continueto increase.
For the full year the ministry expects 200 billion USD in export revenue, a 13percent rise.
Imports are expected to increase by 17 percent to 205 billion USD.-VNA
VNA
