The Digital Trade Promotion Ecosystem for Vietnamese Enterprises

In the final months of 2024, trade promotion activities will continue to be innovated and implemented more intensively, diversifying and increasing flexibility in approaches to expand export markets. Enterprises will focus on effectively leveraging free trade agreements while integrating digital transformation with green transition in trade promotion to drive sustainable production and foreign trade development.

In 2024, export market development activities, with a focus on the National Program for Trade Promotion, will prioritize exploring new markets such as the Middle East, Africa, and South America, while maintaining key markets. The goal is to seize opportunities from markets with free trade agreements (FTAs), ensuring balanced, sustainable, and long-term stability for export activities, thereby enhancing the overall effectiveness of the economy.

In the first half of 2024, the Ministry of Industry and Trade directed the Trade Promotion Agency and related units to intensify direct trade promotion activities, connecting and developing export markets for Vietnam's key products such as agricultural and aquatic products, processed foods, footwear, and software. Trade promotion efforts were also made by maintaining the presence of Vietnamese enterprises at major international exhibitions and organizing trade missions to FTA markets and key export markets such as the United States, China, Germany, Spain, Japan, UAE, Bulgaria, Kazakhstan, Australia, and New Zealand.

Mr. Vu Ba Phu, Director of the Trade Promotion Agency, emphasized that in addition to factors like pricing, product quality, and delivery time, greening and sustainable development have become crucial competitive criteria that major markets like the U.S., EU, and Japan demand from suppliers. Therefore, Vietnamese exporters must proactively gather information, thoroughly understand the markets, and utilize trade promotion activities as one of the most effective ways to directly penetrate these markets.

In the latter half of 2024, the Trade Promotion Agency will continue to innovate and diversify trade promotion activities, maximizing the benefits of free trade agreements to expand export markets. Especially, integrating digital transformation with green transition in trade promotion will be promoted to foster sustainable production and foreign trade development.

During this period, the National Trade Promotion Program will focus on organizing and participating in international exhibitions abroad, such as the Sial Paris 2024 International Food Industry Fair in France and World Food Moscow 2024 in Russia, with around 30 enterprises participating in each event. In Vietnam, major exhibitions such as Vietnam Foodexpo 2024 and the OCOP Export Products Exhibition are expected to attract 200 enterprises with 300 to 500 booths.

Additionally, international trade missions are planned for Russia, Finland, France, Belgium, and the Netherlands, with 10 to 30 enterprises participating in each mission. The Trade Promotion Agency will also coordinate with other ministries and agencies to organize international conferences on export sectors in Vietnam while promoting Vietnamese export products on international media platforms.

A key highlight of this period is the application of information technology and digital transformation in trade promotion activities. The Trade Promotion Agency is developing the Digital Trade Promotion Ecosystem (DECOBIZ), a technological platform that helps businesses showcase products, seek information, and connect with partners in the digital space. This platform is being developed in collaboration with international organizations such as SECO, USAID, Alibaba, and TikTok Shop. By 2025, the ecosystem is expected to provide accounts for over 200,000 businesses, with 50% of them engaging in transactions.

Furthermore, in the second half of 2024, the Trade Promotion Agency will focus on promoting the Vietnam National Pavilion on Alibaba.com, maintaining and developing the Digital Trade Promotion Ecosystem, and preparing for events related to digital transformation in trade promotion.