Trade promotion demand outstrips budget

Vietnamese enterprises and associations need around VND300 billion for trade promotions this year while the State budget provides them a modest support of around VND43 billion.

Speaking to the Daily on the sidelines of a trade promotion meeting in HCM City on Tuesday, Ta Hoang Linh, deputy head of the Vietnam Trade Promotion Agency under the Ministry of Industry and Trade, said the ministry is seeking ways to deal with the problem.

The ministry is working with the finance ministry and Ministry of Planning and Investment to send a report to the government, asking for more capital for businesses’ future trade promotions, Linh said.

Vietnam’s state budget earmarked for trade promotions is extremely low compared to other countries in the region.

South Korea annually sets aside around $200 million while Thailand spends $40 million assisting enterprises in trade promotion projects and attending overseas exhibitions. Meanwhile, Vietnam spends only around $2 million each year.

According to the Trade Promotion Agency, Vietnamese firms join around 20 exhibitions and fairs overseas every year.

Supawan Teerarat, director of Thailand Convention and Exhibition Bureau, told the Daily that Thailand helps its enterprises join around 200 fairs and exhibitions overseas annually.

This year, Thailand focuses on supporting enterprises in trade promotion with enterprises in the Asean+6 (Asean nations plus China, India, South Korea, Japan, Australia and New Zealand).

Thailand has launched the ’100 A Head’ campaign, awarding $100 to anyone bringing 15 guests to trade exhibitions in Thailand.

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Category: Economy