Want to be in the loop?
subscribe to
our notification
Business News
MARKET TOOLS HELP BUSINESSES EXPORT: EXPERTS
Businesses should look more into using market research tools to identify foreign trade opportunities amid rising challenges, experts have said.
Speaking at a conference last week on helping businesses expand export markets, Huynh Minh Vu, deputy director of the HCM City Centre of International Integration Support (CIIS), said Vietnam’s integration and free trade agreements were providing enormous export opportunities.
But many countries were increasingly using non-tax barriers to protect their domestic markets.
Global inflation was also changing the behaviour of consumers in Vietnam’s key markets such as the US and the EU, making them prudent with their spending and buying fewer non-essential products, he said.
This was hindering Vietnam’s key exports such as textile and garment, footwear and wood furniture, he said.
“It is important to help businesses research a market with analysing tools to better understand trends, import and export rules, sanitary and phytosanitary measures, and technical barriers to trade.
“This will increase their competitiveness and help them take advantage of free trade agreements.”
Le Viet Dung Linh, a market research expert at the International Trade Centre (ITC) Vietnam, said that Vietnamese businesses could use ITC’s market research tool for free.
Businesses could use the tool to analyse import and export opportunities, market sizes for various products and overseas market trends, he said.
They could also keep up to date with sanitary standards and technical barriers in various markets, and can even be notified of the latest developments, he added.
Experts at the conference said there were many other good market tools that could provide useful information but businesses needed to be able to use the data effectively.
The conference was held by CIIS and the city’s Investment and Trade Promotion Centre.
Source: VNS
Related News
![Card image cap](/uploads/Logo/Cathay%20%281%29.jpg)
ONE-TIME OFFER: COMPLEMENTARY CATHAY PACIFIC LOUNGE PASS
Begin your trip on the right note in Cathay Pacific’s first-ever ferry lounge, located at Shenzhen’s Shekou Cruise home port. Situated at the end of the pier, the ferry lounge offers a breathtaking 270-degree view of the sea. You can immerse yourself in sheer luxury and revel in the panoramic beauty. Catch a glimpse of Hong Kong in the distance.
![Card image cap](/uploads/news/Industrial%20Zone.jpg)
VIỆT NAM TARGETS FULL MOBILE BROADBAND COVERAGE ON HIGHWAYS, INDUSTRIAL ZONES BY 2025
By 2025, Việt Nam aims to achieve one hundred per cent mobile broadband coverage on all national highways, expressways and railways under a plan to enhance the quality of Việt Nam’s mobile telecommunications network by 2025, which has been approved by the Ministry of Information and Communications (MIC).
![Card image cap](/uploads/news/Investment6.jpg)
VIETNAM ONE OF FASTEST-GROWING E-COMMERCE MARKETS IN SOUTHEAST ASIA
The report released on July 16 highlighted that the total GMV of Southeast Asia’s eight leading e-commerce platforms rose to $114.6 billion in 2023, up 15 per cent from 2022. The key drivers for the region's e-commerce GMV expansion in 2023 are Vietnam and Thailand, growing 52.9 per cent and 34.1 per cent on-year, respectively.
![Card image cap](/uploads/news/Security.jpg)
2025 PIVOTAL FOR STOCK MARKET UPGRADE EFFORT
The Ministry of Finance (MoF) is expected to soon publish the entire content of the draft circular amending and supplementing four circulars on transactions, registration, depository, and clearing, as well as operations of securities companies and information disclosure. This move, along with feedback and explanations, aims to meet the criteria for upgrading Vietnam’s stock market.
![Card image cap](/uploads/news/bn-01.jpg)
VIETNAM INTENSIFIES E-COMMERCE TAX SCRUTINY
The department plans to offer guidance for and hold direct dialogues with e-commerce taxpayers to ensure compliance. Efforts will also include updating the e-commerce database, conducting risk analysis, and leveraging artificial intelligence (AI) to manage data and issue alerts.
![Card image cap](/uploads/news/eco2.jpg)
FOOTWEAR EXPORTS SEEN REACHING US$27 BILLION THIS YEAR
This optimistic forecast reflects the industry’s efforts to expand and diversify its markets. Lefaso indicated that Vietnam’s footwear sector will concentrate on traditional markets like the U.S. and the European Union, alongside markets with free trade agreements to maximize opportunities.