Hanoi (VNA) – Vietnam plans to promote bilateral trade and investment linkswith strategic and important partner countries in the time ahead, towardsfostering economic growth and expanding export markets.

Therecently approved project also aims to increase enterprises’ competitivenessand their awareness of integration, enabling them to intensively join theglobal value chain.

It is hoped to help improve the national competitiveness, promoteadministrative reform and fine-tune business climate while perfecting thesocialist-oriented market economy institution.

Under the scheme, efforts will be made to fully tap business advantages, increasethe quality and effectiveness of trade and investment promotion activities, andfoster connection among ministries, sectors and business associations insideand outside the country in the work.

Attention will be paid to bettering the quality of products and production methodsthrough applying high technologies to meet export demand, and increase linksamong domestic and foreign businesses.

Small and medium-sized enterprises(SMEs) will be updated on information and forecasts related to market, politicsand exchange rate fluctuation; while other businesses will also be assisted intraining human resources to improve their knowledge of international economic integration,bilateral and multilateral free trade agreements(FTAs) that Vietnam signed withforeign partners.

Focus will be placed on taking advantage of investment trade agreements andcalling for more investment projects from Vietnam’s important and strategic partnercountries.

Coordination between the Vietnam Chamber of Commerce and Industry (VCCI) andbusiness associations and between domestic agencies and representative agenciesabroad will be strengthened, towards promoting the country’s economicdevelopment.

Through implementing activities of the project, the VCCI will report and summitsolutions to the Government, contributing to overcoming difficulties in tradeand investment coordination between Vietnam and strategic and important partnercountries.

Surveys will be carried out to assess the needs, limitations and difficulties ofenterprises and market potential so as to select markets for export andinvestment.

Public-privatedialogue mechanism and investment promotion will be bolstered, while SMEs willbe supported in accessing advanced technologies and modernise production,helping them make inroads into more markets in strategic and important partnercountries and join the global value chain.-VNA