Vietnam Trade Information Portal official launched

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Deputy Prime Minister Vuong Dinh Hue, Minister of Finance Dinh Tien Dung, World Bank’s Acting Country Director Sebastian Eckardt, Deputy Minister of Finance Vu Thi Mai, Director General of Vietnam Custom Nguyen Van Can jointly pressed the button to officially operate the VTIP. Photo: H. Nu

VTIP was hosted by the General Department of Vietnam Customs under the Ministry of Finance with technical support from the World Bank in Vietnam, it is expected to help improve the predictability and transparency of regulations and procedures related to Vietnam’s trade and provide the business community with necessary regulations and procedures related to import and export activities via NAS Portal. This initiative is also in line with commitments of the Vietnam’s Government to facilitate information exchange and compliance with Article 1 of Trade Facilitation Agreement (FTA) with World Trade Organization (WTO).

At the Ceremony, Mr. Dung emphasized: “With official launching and operation of the VTIP in the coming time, we hope that the business community and relevant parties will find necessary and sufficient information to facilitate the trading activities. The Ministry of Finance, as a host agency in the implementation of the WTO FTA, has committed to closely collaborate with the Government agencies, private economic sector, and world organizations to ensure the effective cooperation and share information for sustainability of VTIP and contribute to implementing Vietnam’s international commitments to transparency”.

Mr. Sebastian Eckardt stated: “Trade is an important engine for Vietnam’s growth and easy and prompt assessment of information on import-export procedures is crucial for traders and investors. VTIP is a single assess point where users can find information from tens of ministries and state agencies related to import and export activities. The Portal is an important part of the ongoing Government’s effort to enhance trade facilitation, and the World Bank is ready to continue to support the important efforts”.

VTIP is operated in both Vietnamese and English and includes information related to trade regulations and procedures; legal documents, administrative procedures, guidelines; forms, licenses and fees applicable to import and export activities Also, VTIP includes an overview of Vietnam’s economy, import-export guides, Customs terminology as well as information on special economic zones, processing zones, cross-border trade and GSP automation system. VTIP allows performance of selection in searching information including searching goods with HS code, method, procedures, standards, forms and special regulations. In addition, VTIP contains international, regional, bilateral economic agreements that Vietnam signed including applicable rules and regulations as well as related benefits. The portal provides links to connect some websites of international organizations for further support to enterprises to expand the oversea market and allowing exporters to perform trade analysis and market research.

VTIP is also an efficient tool for legislators to identify the complexity of current regulations and procedures related to each commodity and suggest fields that can be modernized and simplified. Especially, VTIP can be used to monitor the progress of the simplification.

With an average GDP annual growth rate of more than 6% in the past years, Vietnam made great progress in the improvement of the business environment with a series of important legal solutions and technology development. As a leading agency in the negotiation of WTO FTA, Vietnam Customs achieved significant results in comprehensive application of modern information and technology system in providing services and implementing Customs procedures, such as deploying Automated Cargo Clearance System, developing the NSW system to implement administrative procedures related to imports and exports and allow enterprises to submit dossier electronically. The launching of VTIP is a strong development in the frame of comprehensive initiative on trade facilitation to improve the efficiency of general performance of Vietnam’s economy.

VTIP not only meets an important commitment in WTO’s FTA but also is a useful tool to support small and medium-sized enterprises or import and export activities or transit. With more than 2,000 contents pages, including legal documents, method, procedures, and forms related to imports and exports, VTIP aims to help enterprises save time and transaction costs.

VTIP – Tool for trade facilitation VCN- The establishment of the Vietnam Trade Information Portal (VTIP) does not only meets Vietnam's commitments under ...

Compared to countries which have favorable business conditions in ASEAN such as Singapore, Thailand, and Malaysia, there is still a long distance between Vietnam and these countries. Therefore, Vietnam has set targets to strive to reach the minimum average level of ASEAN-4 by 2020 on criteria of improvement of business environment. The General Department of Customs considers the VTIP as an important tool to reach the target and support the Government in simplifying and modernizing the administrative procedures.