At the recommendation session of ViEF 2019

NS BlueScope Vietnam suggests three main solutions

17:41 | 02/05/2019 Companies

May 2nd 2019, within the recommendation session of Vietnam Economic Forum 2019 (ViEF), which gathers more than 500 economic experts, 50 outstanding orators, 1,500 CEOs, CIOs and thousands of representatives from different industries and sectors, Colorbond® – the very high-class pre-painted steel brand under Australia-based BluseScope® – counsels the government about solutions to improve competitive edges for private sector in the context of Comprehensive and Progressive Trade Agreement for Trans-Pacific Partnership (CPTPP).  

Speaking at the recommendation session of ViEF 2019, Mr. Vo Minh Nhut – President of NS BlueScope Vietnam prescribes recommendation that can help to boost private sector’s competitiveness under trade barriers and CPTPP. In particular, NS BlueScope Vietnam suggests three main solutions, including: (1) Enterprises should be proactive in revamping their competitive advantages and seeking for partnership; (2) Invest in or Collaborate in the field of Research & Development (R&D) to facilitate innovation and generate added values for products; (3) Raising business standards towards sustainability, especially in the field of intellectual property, environment, labor benefits and policy transparency.

In terms of suggestions for the Government, Mr. Vo Minh Nhut proposes: Promote communication and indoctrination initiatives, especially establishing a comprehensive, detailed information portal about taxes and markets in line with CPTPP’s roadmap; Updating legal system and fostering legal practice as regulated by CPTPP and creating a fair playground for businesses; Creating a favorable mechanism for businesses to build a responsible supply chain.   

Mr. Vo Minh Nhut, President of NS BlueScope Vietnam counsels Government about solutions to improve competitive edges for Private Businesses

“CPTPP’s markets are not key importers of Vietnam’s steel. The majority of steel products are imposed with low or near-zero tax. Nevertheless, nations have their own policies to protect domestic manufacturing through tax barriers against anti-dumping, trade defense tax, anti-avoidance and anti-fraud tax, technical barriers or national security reasons and these barriers are outside the tariff schedule of CPTPP,” further emphasized, Mr. Vo Minh Nhut.

With a view to enhancing competitive advantages, NS BlueScope Vietnam keeps researching and developing advanced technologies and products with the aid of the Group’s R&D centers or partnership with experienced players in the industry, thereby breaking barriers to export prices. NS BlueScope Vietnam is proud to be the first to launch the zinc-aluminum alloy coated steel in Vietnam in 2005. The company will continue to play a pioneering role in innovation with Zincalume® and Colorbond® product ranges as the first and only to introduce ActivateTM technology to the market, challenging the most severe environments such as marine and polluted industrial environments.

Apart from boosting competitive edges of products, NS BlueScope Vietnam focuses on developing sustainable values in line with sustainable development goals set by United Nations and CPTPP’s strict standards through five main pillars: Health and safety for employees, clients and shareholders; Eliminate green house effect with a record of 3 million kg of CO2 cut down, equal to exhaust emission by 1,200 car in a year; Increase female employees and promote women to managerial positions; Committed to transparency and prevention of corruption.

In its journey of being a partner of economic growth, Colorbond® in particular and NS BlueScope Vietnam in general have been translating its unrivalled professional experience and high-quality products into industry advancement. Promoting programs that are contributing to social-economic sustainability like ViEF 2019 is an integral part of such a goal.