Forty four Vietnamese ambassadors and general consuls provided the attending businessmen with information relating to export markets.

Domestic businesses have suggested that overseas diplomatic officials establish new avenues of information to provide current economic information, as well as analyses and forecasts of trends in foreign markets.

The businesses expressed their desires and expectations to receive more information, particularly regarding strategic market analyses, from overseas diplomats.

They suggested that direct information should be provided regarding opportunities for new export markets, such as the Middle East and Angola, as well as information pertaining to sources of raw materials and equipment in China, the Republic of Korea and the United States.

They also spoke of their need for concrete analyses regarding the competitiveness of Chinese and Indian businesses, as well as information on tax policies, trade practices and sources of materials that could be imported from other countries to meet domestic production needs.

The businesses reiterated a proposal to contribute funds to enable overseas diplomatic agencies to collect, analyse and provide relevant market information.

According to Le Quoc Thinh, Director of the Fund for Economic Relations, the fund has a budget of just under US$1 million per year, or just US$10,000 for each overseas diplomatic agency, making it difficult to conduct large-scale market research or to implement efficient trade promotion programmes.

Deputy Foreign Minister Doan Xuan Hung said his ministry, in coordination with the Vietnam Chamber of Commerce and Industry (VCCI) will launch a website to connect all overseas diplomatic agency websites, as well as the VCCI to periodically provide up-to-date market information.

The Foreign Ministry also plans to publish a booklet featuring potential new markets for export, investment, tourism and labour activities, focusing initially on between 40-50 potential markets in the Middle East and Africa, Hung said.