The Ultimate Guide: Crafting a Strategic Decree and Building Trust

On April 1, 2025, Minister of Industry and Trade Nguyen Hong Dien chaired a pivotal meeting shortly after his US trip as the Prime Minister’s Special Envoy. The agenda focused on drafting a decree on strategic trade control, and the minister’s leadership accelerated its publication on the ministry’s website and the government’s e-portal for public feedback.

This swift action showcases the trade policy enforcement agency’s efficiency and underscores Vietnam’s strategic vision, proactive spirit, and international responsibility amidst a shifting global trade order.

Minister Nguyen Hong Dien chairs the meeting on the draft decree – Photo: PV

Urgent and Necessary Action

Minister Dien emphasized the urgency of this decree, stating, “As Vietnam forges ahead with building a modern, sustainable, and highly competitive economy, this decree is of paramount importance.”

With global supply chains in flux and high-tech investments surging in Vietnam across sectors, a legal framework to govern strategic trade is imperative. This is a crucial step to bolster confidence among major partners like the United States for expanded cooperation in technology transfer, large-scale investments, and long-term trade agreements.

The draft decree is a landmark document targeting trade activities involving dual-use goods, sensitive technologies, and products pivotal to national security and defense. It safeguards national interests and underscores Vietnam’s commitment to upholding fair and transparent trade practices, as enshrined in international agreements.

Economists Laud the Decree

Dr. Le Quoc Phuong, former Deputy Director of the Industrial and Trade Information Center, commended Vietnam’s move: “This is a timely, responsible, and practical step toward establishing a balanced and sustainable trade order.”

Dr. Can Van Luc, a member of the National Financial and Monetary Policy Advisory Council, concurred: “Vietnam is adopting a suitable and effective approach to balance its trade with key partners, including the United States. This entails enhanced policy dialogue, increased imports of high-tech products, and stringent measures against trade fraud and illegal transshipment.”

The timing of this strategic decree, coming soon after the Minister’s mid-March trip to Washington, where he met with the US Trade Representative and other pivotal agencies, underscores its importance.

Import and export – a cornerstone of Vietnam’s economy – Photo: Quang Vinh

During those meetings, Vietnam proactively proposed bilateral control mechanisms and cooperation to combat product origin fraud and ensure compliance with WTO rules and new-generation FTAs.

Upon his return, the Minister wasted no time, and within a fortnight, a foundational draft was created and published. This swift action not only demonstrates efficiency but also signals Vietnam’s commitment to building strategic trust.

Building Trust through Institutional Frameworks

In international trade, trust transcends declarations; it is forged through the institutionalization of commitments. The public release of the draft on official e-portals exemplifies transparency and a willingness to engage with the community, businesses, and the public.

Notably, Vietnam is among the few developing nations establishing a legal framework for strategic trade control at the decree level, on par with many advanced economies.

By proactively adjusting its institutional framework, Vietnam conveys a message of independence and a commitment to long-term stability for the global trade ecosystem. This stance is befitting of its position as a rising economy within the top 20 largest trade powers worldwide.

A Decree That Makes a Statement The Draft Decree on Strategic Trade Control transcends mere regulation. It is Vietnam’s assertion of its reliability and responsibility as a partner committed to the common good. Moreover, Vietnam aspires not just to keep pace with the world but to help forge new, more civilized, transparent, and fair rules.