The workshop on ASEAN-generated opportunities for rural industry products takes place in Hanoi on September 19 (Photo: VNA)Hanoi (VNA) – The Departmentof Local Industry and Trade under the Ministry of Industry and Trade held aworkshop in Hanoi on September 19 to look into ASEAN-generated opportunitiesfor rural industry products.
The workshop was part of events to honour Vietnam’soutstanding rural industry products.
ASEAN has 622 million consumers and combined GDPof about 2.6 trillion USD and is the seventh and the third biggest economy inthe world and Asia, respectively, boasting huge potential for businesses.
Foreign direct investment in ASEAN has grownwell, reaching 120 billion USD in 2015, with Vietnam the fifth largestinvestment destination in the region. Meanwhile, ASEAN is the second biggesttrade partner of Vietnam, accounting for 13 percent of the country’s totalforeign trade in 2015.
Vietnamese exports to ASEAN are benefiting from reducedor removed import tariffs, the workshop heard.
Dang Mai Anh, Vice Rector of the University of IndustrialFine Art, said to develop rural industry products, it is necessary to meetexport markets’ demand by gearing products towards markets’ conditions andcustoms while paying attention to prices, design and Vietnam’s cultural identityin the products.
Le An Hai, Deputy Director of the ministry’sDepartment of Asian and African Markets, said a challenge during integration isconnectivity among domestic businesses. Some firms have very goodcompetitiveness but do not coordinate well with other firms to compete withforeign rivals.
Hoang Chinh Nghia, Deputy Director of theDepartment of Local Industry and Trade, said his department will promoteindustrial production and encourage businesses to step up innovation andapplication of modern technology, aiming to boost competitiveness and buildtrademarks.
He said he hopes with industry promotionpolicies, rural industry producers will be able to grasp integrationopportunities.-VNA
VNA
