Vietnam Top Trade Services Awards honor over 100 typical enterprises and entrepreneurs

Winners of the 2016 Vietnam Top Trade Services Awards honoured at the awarding ceremony, Hanoi, April 22 - Credit: moit.gov.vn

This is the seventh year the awards were organised by the Ministry of Industry and Trade (MOIT) to encourage and honour businesses and entrepreneurs operating in 11 trade and service sectors that Vietnam committed to enhancing when joining the World Trade Organisation (WTO) in 2007, including environmental services; distribution; financial services; construction; information; general business; travel; transport; healthcare-social services; education and cultural-entertainment services.

In particular, the awards ceremony coincided with the 10th anniversary of Vietnam's official membership as the 150th member of WTO (2007-2017).

Speaking at the event, MOIT Minister Tran Tuan Anh said that the approval of Vietnam’s membership to the WTO in 2007 was a turning point marking the transformation and integration of Vietnam’s economy in the region and the world. WTO accession has created visual values for an economy that is thirsting for change in line with the general movement of the world economy to narrow the gap with developed countries like Vietnam.

After ten years of WTO accession with both challenges and opportunities for service businesses and entrepreneurs, they have fulfilled their mission, Minister Anh noted, adding that the share of services in GDP sits at between 40-45% annually. The average annual growth rate is nearly 7% per annum, higher than the average annual GDP growth rate, meeting the Party and State requirement of restructuring the economy from agriculture to industry and services.

Nguyen Huu Quy, Editor-in-chief of the Trade and Industry Newspaper and a representative from the award organising committee, said that the awards target enterprises operating in the field of services, distribution, retail, import-export, finance and banking.

Along with the presence of big businesses and strong brand names in the trade and services sector, the 2016 season was distinguished by the presence of nominated businesses from provinces and cities in the northwest and the Mekong Delta, with great influence and contributions to local economy and the overall development of the economy.

The awards were launched in October 2016. After four months, the organisers received more than 400 nominations from over 30 People's Committees, Departments of Industry and Trade and local industry associations, as well as self-nominations, for the title "Excellent Service Enterprises,” “Excellent Service Entrepreneurs," and "Typical Service Enterprises."