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Tuesday, June 25, 2024

USAID partners with MOIT to advance digital trade development

By Nguyen Tan

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HCMC – The United States Agency for International Development (USAID) has recently formalized a memorandum of understanding (MOU) with the Ministry of Industry and Trade (MOIT) to provide support for MOIT’s initiatives in the field of e-commerce development and digital transformation within trade promotion.

The primary objective of this MOU is to bolster Vietnam’s digital trade ecosystem, thereby benefiting businesses from both countries and strengthening Vietnam’s ability to establish policies and regulations governing digital trade.

Under the MOU, USAID will assist MOIT in the implementation of programs and initiatives related to digital transformation, digital trade development, and the utilization of information technology in trade promotion.

The cooperation also entails facilitating public-private dialogues to encourage private sector participation in shaping policies and regulations related to digital trade. Additionally, it will enhance the operation of e-commerce platforms and ensure cybersecurity compliance with Vietnamese law.

Moreover, this partnership is expected to aid MOIT in crafting strategies for market penetration, trade promotion, product origin tracing, and market connectivity for businesses, all aligned with Vietnam’s socio-economic objectives.

USAID’s engagement in Vietnam aims to bolster the Indo-Pacific Economic Forum and promote prosperity through collaborative efforts between Vietnam and the U.S, looking to enhance innovation and pursue digital economy standards and fostering sustainable growth.

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