Da Nang fostering international integration for economic development

Enhancing implementation capacity

Market integration capabilities and Certificate of Origin (C/O) regulations are two key issues for the business community in the context of international economic integration. Therefore, the Da Nang Department of Industry and Trade has recently collaborated with relevant agencies to support businesses in the city in enhancing their capacity to comply with C/O regulations while clearing bottlenecks in exports.

C/O is not only an administrative procedure but also a trade "passport" helping Vietnamese goods benefit from tariff preferences under FTAs while facilitating management and trade remedies as well as compliance with the stringent technical standards of importing markets.

According to Director of the Da Nang Department of Industry and Trade, Le Thi Kim Phuong, the department has asked the Da Nang City People's Committee to issue a plan for implementing the Vietnam-Israel FTA (VIFTA) in Da Nang.

At the same time, the department continues to effectively drive the implementation of other FTAs such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the European-Vietnam Free Trade Agreement (EVFTA), the UK-Vietnam FTA (UKVFTA), and the Regional Comprehensive Economic Partnership (RCEP) .

In addition, this department focuses on helping businesses in the locality enhance their competitiveness via international trade promotion and guidance concerning C/O. Meanwhile, economic groups have bee encouraged to expand their operations, boost local value, and become deeply integrated into the global marketplace.

Leveraging potential of FTAs

Until now, Da Nang's authorities and businesses in the city have concentrated on enhancing integration capacity and effectively leveraging FTAs, particularly new-generation ones, to diversify partners and markets with the aim of boosting the effectiveness of international economic integration.

The Department of Industry and Trade of Da Nang City has committed to improving the investment climate and supporting the sustainable development of businesses in the locality. It will enhance the quality of Certificate of Origin (C/O) issuance, accelerate digital transformation, and maintain thematic dialogue channels to support businesses exploiting benefits from FTAs. This also will boost economic sustainable development for Da Nang City.

Moreover, the department works together to arrange training workshops and seminars to boost integration-related knowledge, simultaneously engaging with trade promotion organizations and foreign associations to explore cooperation and technology exchange opportunities.

As a trade exchange route in Vietnam's Central and Central Highlands, the ongoing international economic integration continues to be a primary focus for Da Nang's governing bodies and the city's enterprises. This will create favorable conditions for businesses to effectively leverage FTAs, expand their markets as well as enhance the competitiveness of Vietnamese goods in the international arena.