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Getting the message out
The Ministry of Industry and Trade's Viet Nam Trade Promotion Agency (Vietrade) has asked the Government to provide more funding in a bid to boost exports and develop the domestic market.
Vietrade Deputy Director Ta Hoang Linh said that the Government had allocated only VND55 billion (US$2.6 million) from the State budget for trade promotion programmes in the first phase of this year.
"Due to the limited budget, many businesses have been unable to advertise their products and services in both domestic and export markets," said Linh, adding that his agency was asking for more funding to meet the businesses' needs.
A number of the country's key export staples are ranked first or second in the world, but export prices have dropped due to a failure to advertise and in turn popularise products among consumers.
"Domestic businesses are trying to maintain production in the midst of economic difficulty, but they are unable to afford advertising that would help them to establish brand recognition and a trademark," said Linh.
Domestic exporters were also concerned that it would be difficult for them to boost exports because of the sharp budget cut.
Deputy Chairman of the Viet Nam Association of Seafood Exporters and Producers Nguyen Huu Dung said that the cut would mean less promotional programmes.
"It will also prevent businesses from meeting market demands," said Dung.
Vietrade said 50 trade promotion projects would be organised in the first phase across the country for key export sectors such as garment and textiles, seafood, pepper and timber.
This year's trade promotion programmes will be targeted at the domestic and foreign markets, as well as mountain, border and island areas in a move to boost exports and develop the domestic market.
Last year, the Government spent VND72 billion ($3.4 million) on 56 national trade promotion programmes.
As part of last year's programmes, Vietrade organised more than 500 fairs in the domestic market and helped domestic firms to participate in 48 exhibitions abroad, leading to 3,000 business deals and memorandums of understanding worth $1.27 billion.
It also organised 18 seminars and training courses on the Cambodian, African, Middle Eastern and European markets.
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