New trade portal makes it easier to do business in Vietnam

new trade portal makes it easier to do business in vietnam hinh 0

The portal, a website that provides documents and information on the trade process, is hosted by the Ministry of Finance with support from the World Bank Group and is expected to facilitate economic growth in the country.

The Vietnam Trade Portal will make it easier for businesses to comply with regulatory requirements associated with import and export of goods as well as help the country comply with its World Trade Organization commitments to liberalize trade.

I hope the business community will benefit immensely from the use of the trade portal, said Minister of Finance Dinh Tien Dung at the launch ceremony, and connect with the rest of the world through it.

The trade portal is a one-stop point of information on rules and regulations relating to business that will improve transparency and accountability, said Sebastian Eckardt, a lead economist for the World Bank.

Now, with only a few clicks the trade portal provides information relating to existing trade regulations and procedures, including but not limited to laws, administrative procedures, guidance notes, applicable fees, forms, licenses, permits and penalties applicable in case of breach.

The Vietnam Trade Portal is supported through the World Bank Group Trade Facilitation Support Program. This global facility helps countries implement their international commitments on trade facilitation, specifically following the signing of their WTO Trade Facilitation Agreement.

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