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VIETNAM TO INVEST HEAVILY IN TRADE PROMOTION

HANOI - Vietnam's Ministry of Trade plans to spend $19.4 million on trade promotion in 2004, including US$3 million on opening trade promotion centers in the US, Dubai, and Russia.

According to reports, California is on the short list as the location of at least one of the planned centers in the US.

The Ministry is to spend a further $8.8 million on building exhibition centers and trade fair halls in Ha Noi, Da Nang, Dong Nai and Ho Chi Minh City, and on developing e-commerce.

It also plans to build wholesale markets in Nghe An, Dac Lac and Can Tho provinces, at a cost of $3.3 million.

Ngo Van Thoan, chief of the ministry's trade promotion department, said that the central government in Hanoi will provide up to 50% of trade promotion expenses for Vietnamese businesses.

The Ministry hopes the spending program will help increase exports to $21 billion next year, up an estimated 8.8% from the expected total for 2003.

It expects agricultural exports to reach $6.5 billion, and heavy industry exports to hit $5.88 billion in 2004.

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