(VNA) A virtual workshop which revealed findings of a report on digital transformation in Vietnam’s trade sector for effective implementation of new generation free trade agreements (FTAs) was held on December 13.

The event, organised by the Central Institute for Economic Management (CIEM), was part of activities within the framework of the “Macroeconomic Reforms/Green Growth Programme” implemented by German development cooperation agency (GIZ).

Uncertainties triggered by COVID-19 since last year have sped up digital transformation and digital economic partnership, CIEM Director Tran Thi Hong Minh said.

Seizing digital transformation trends and practices in commerce will foster innovation and resilience of Vietnamese businesses at large and trade activities in particular.

Vietnam needs to exert efforts to fine-tune its policies in a bid to foster digital transformation in a fast and practical manner amid demand for effective implementation of new generation FTAs like the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the EU-Vietnam FTA (EVFTA).

The report analysed global trends and experience in digital transformation facilitating trade in the Republic of Korea, Switzerland, China, EU and Singapore.

It reviewed legal framework, implementation and requirements to bolster the process in line with commitments stated in the FTAs, as well as development of some fields of innovation serving the work, namely digital infrastructure-telecommunication, fintech and logistics. 

Vietnam is advised to build an effective roadmap conducive for digital transformation in trade in the coming time, while ensuring cyber security and safety, and completing policies on competitive edge, tax regulations on e-commerce platforms and intellectual property protection, among others.

Source: Workshop spotlights digital transformation in Vietnam’s trade | VOV.VN