Implementing Decision No. 916/QD-BCT dated April 1, 2025 on the establishment of the Drafting Committee and the Editorial Team to develop a Decree regulating strategic trade control of Vietnam, on the afternoon of April 1, Minister of Industry and Trade Nguyen Hong Dien chaired the first meeting of the Drafting Committee and the Editorial Team of the Decree on strategic trade control.
Speaking at the meeting, Minister Nguyen Hong Dien affirmed that the urgent development and promulgation of a Decree on strategic trade control is extremely necessary in the current context. Especially when Vietnam is focusing all resources to build a modern, sustainable and highly competitive economy in the international arena.
In recent times, the shifting trend of global value chains has helped Vietnam gradually become an attractive destination for investors. Especially for industries that produce high-tech products such as electronics, computers and especially semiconductor technology.
To ensure technology transfer activities and expand the production scale of high-tech products, major trading partners have proposed that Vietnam research and develop a strategic trade control mechanism.
Improve technology control capacity, increase the ability to implement intellectual property protection, and reduce the possibility of these source technologies being exported to third countries without the consent of the exporting country.
In addition, strategic trade control is both a duty of Vietnam in implementing international commitments and also demonstrates Vietnam's responsibility in protecting international security and peace.
Vietnam, as a country with strong growth in import-export turnover, in the top 20 countries with the largest trade scale and trade relations with most countries and with a diverse range of import-export items, is receiving further attention and is being proposed to build a legal framework on strategic trade control, included in bilateral coordination programs.
In addition, Vietnam is also actively implementing many specific solutions to move towards a harmonious and sustainable trade balance with many major trading partners, such as the US or the European Union. Therefore, building an effective strategic trade control mechanism also creates a solid foundation for increasing the import of high-tech and source technology from this market. Thereby helping to balance the trade balance.
This is also one of the contents that the Minister of Industry and Trade - Special Envoy of the Prime Minister during his working trip to the US in March 2025 discussed with the US Trade Representative and relevant US ministries and branches.
This is a statement of Vietnam realized in specific legal documents at the Government level, expressing determination and desire to cooperate with the US in a sustainable way.
Also at the Drafting Committee meeting, the members of the Drafting Committee agreed on the necessity of promulgating, the scope and subjects of regulation, along with some basic contents of the draft Decree. The Minister of Industry and Trade has directed the Standing Committee of the Editorial Team to promptly absorb comments and complete the draft to submit to the Government as soon as possible.
On April 1, 2025, the Ministry of Industry and Trade announced a draft Decree on strategic trade control on the electronic information portal for public consultation.
