Monday, 23 Sep 2019

Hanoi targets priority markets for trade and investment promotion

Updated at Tuesday, 10 Sep 2019, 20:05
The Hanoitimes - Hanoi’s trade promotion activities have been shifted to greater professionalism and efficiency, helping Vietnamese companies join large scale distribution networks and investors take part in major projects in Hanoi, said an executive at the Hanoi Promotion Agency.
The Hanoi Promotion Agency (HPA), a managing body for trade, commerce and tourism promotion in Hanoi, has targeted priority markets such as Japan, Europe and South Korea to promote trade and investment. 
Japanese customers at Vietnam - Hanoi Goods Week.
Japanese customers at Vietnam - Hanoi Goods Week 2019.
In late June, famous French chef Federic Jaunault present his dishes made from Vietnamese agricultural products and fruits at Rungis International Market of France, all of which was provided by the HPA and 11 suppliers from Hanoi. 
Such event has left good impression on French retailers and paved the way for Vietnamese products to penetrate one of the largest wholesale market in the world. 
This was not the first time that HPA held a trade and tourism promotion in France. In 2018, the  Vietnamese Agricultural Products Week was held in Rungis, which served as an platform for Vietnamese and French companies looking for business opportunities. 
Recently, HPA has held Vietnam – Hanoi Goods Week 2019 in partnership with Japanese retailer AEON in a bid to take Vietnamese products into Japanese market. 
Nguyen Thi Mai Anh, vice director of HPA, said Hanoi’s trade promotion activities have been focused on greater professionalism and efficiency, helping Vietnamese companies join large scale distribution networks and investors take part in major projects in Hanoi. 
As a result, companies have been able to secure large contracts and more importantly, trade promotion has played a big part in changing the mindset of enterprises to invest in production, product design and quality, in turn meeting requirements in priority but demanding markets. 
Board Chairman of Aligro Company Hoang Van Linh said with support from the HPA and Hanoi’s authorities, Aligro has been able to study the target market thoroughly to have greater chance of signing  export contracts. 
CEO of AEON Vietnam Shiotani Yuichiro said the Japanese retailer has set up a specific plan to support Vietnamese enterprises meeting requirements of AEON and the Japanese market. 
A more efficient trade and investment promotion from HPA has resulted in improvements of Hanoi's economic performance. In 2016, Hanoi attracted US$3.11 billion in FDI and the figure rose to US$7.5 billion in 2018, making the capital top foreign investment destination nationwide. 
In the first six months of 2019, foreign investors poured US$5.3 billion into the city, while the number of visitors to Hanoi increased sharply from 21.8 million in 2016 to 26.3 million in 2018. 
Director of HPA Nguyen Gia Phuong said in the coming time, HPA would focus on promoting foreign investment in high technology sectors, trade and services in Hanoi. 
In a meeting with the HPA on August 1, Secretary of the Hanoi Party Committee Hoang Trung Hai said a new approach is required for Hanoi to maintain its status as Vietnam’s top investment destination. 
Le Nam - Ngoc Thuy
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