Machinery import activities at VNPhat Co., Ltd: Situation and suggestions

Nowadays, globalization is a general trend. Not a single nation can be prosperous with closure policies since international trade plays the key role in promoting domestic economic integration into the world economy. Moreover, international trade can also help a country develop it comparative advantages, taking advantage of potential capital, technology, science and advanced management skills from outside, as well as maintain and develop national culture, acquiring the quintessence of human culture. Imports help domestic consumers to have a diversity of products at lower prices. Also for the entire economy, imports increase the efficiency of production and enable it to concentrate on producing those goods which it has competitive advantages, increasing labor productivity through imported equipment, technical science, and modern production methods. With the trend to strengthen international cooperation, the Vietnamese government has allowed various business types, including state-owned enterprises, joint- ventures, business cooperation and private sector to participate in import and export business. Therefore, improving the efficiency of import-export business in general and import business inparticular is extremely important .