While many businesses avail themselves of the potential and opportunities for increased exports thanks to the country’s deeper international integration, they are also encountering numerous challenges, a conference on October 26 heard, according to the Voice of Vietnam.

The challenges lie in competitiveness, goods quality, regulations in export markets, and difficulties seeking new customers and accessing new markets and capital resources for business and production.

“The two biggest obstacles facing businesses are access to credit, at 55.6 per cent of all businesses, and seeking customers, at 55.1 per cent,” Director of the Vietnam Chamber of Commerce and Industry (VCCI)’s Center for Small and Medium-sized Enterprises Tran Thi Thanh Tam told the conference on “Solutions to promote import/export growth for Vietnam’s small and medium-sized businesses (SMEs)”.

“These are two significant issues that need to be resolved to accelerate export and import activities by Vietnam’s SMEs,” she said.

“It is also essential to enhance the capacity of export and import businesses, develop high-quality human resources to meet requirements of the digital era and advanced production and business processes, and to more deeply integrate into the global value chain.”

“It is necessary to raise the awareness and responsibility of SMEs in making and implementing policies for sustainable export development,” said Director of the Vietnam Institute of Industrial and Trade Policy and Strategy, Nguyen Van Hoi.

“They should also proactively keep a close eye on State policies and incentives, especially those on credit, technical assistance, and upgrading training facilities for human resources to enhance export and import efficiency.”