Online Information Crucial for Businesses

E-commerce and Information Technology Department director Nguyen Thanh Hung (VEN) - Recently, in Hanoi, the E-commerce and Information Technology Department of the Ministry of Industry and Trade, in association with the Multilateral Trade Assistance Project, Phrase III (Vietnam-EU Mutrap III), organized a workshop themed "Skills for Online Export Information Exploitation."   The Vietnamese economy is integrating more deeply into the world economy and in such circumstances information plays an increasingly important role in the socioeconomic life, especially in trading activities of businesses. It is necessary for domestic companies to seek updated information about the international market, which helps them make suitable strategies and plans for business development and export promotion. Nguyen Thanh Hung, the head of the E-commerce and Information Technology Department, said that today the Internet is the most effective tool that businesses can use to seek information. However, many kinds of information cannot be found on the Internet and sometimes, it is not easy to find an information item that is available on the Internet. Therefore, businesses must practice everyday to improve their skills for exploiting online information. In the opinion of experts who attended the aforementioned workshop, the world is undergoing a period of information explosion but most Vietnamese companies are lacking trade information, especially information about the international market. Domestic companies are mostly small to medium in size and they lack money to invest in information facilities. Domestic companies still lack updated information related to import-export activities, for example legal procedures that are required to establish a business branch in each market, the transaction manner and the mode of payment, prices, trade barriers, self-defence methods, and anti-dumping activities. Experts said that businesses must be aware of the important role of information and effectively exploit online trade information resources and the official websites of the Ministry of Industry and Trade such as www.ttnn.com.vn (providing information about foreign markets), and www.vnex.com.vn (providing information about Vietnam's exports). These information resources will help domestic companies popularize their products in the world market. Tran Huu Linh, the deputy director of the E-commerce and Information Technology Department, said that to become reliable and reputable in the Internet environment, businesses must update and renew on a regular basis the information on their websites. Specifically, their websites must provide exact addresses so that foreign companies can do transactions quickly and effectively. In the opinion of Tran Huu Linh, to seek useful information for import-export activities, domestic companies must pay special attention to improving their skills for exploiting online information and get used to buying information from official information sources. At the workshop, Nguyen Van Thoan, master degree holder, the head of the E-commerce Faculty and director of the Information and Examination Center of the University of Foreign Trade, presented the applications of E-commerce - the tools that help small and medium-sized companies enhance their competitiveness. Nguyen Van Thoan believes E-commerce will be attractive to businesses, especially small and medium-sized companies, because it is easy to apply and inexpensive. The applications of E-commerce will help them create an online sales process and facilitate their transactions with foreign partners./.