Prime Minister Nguyen Xuan Phuc speaks at the conference (Source: VNA) Hanoi (VNA) – Vietnam’sexport-import exceeded 420 billion USD for the first time in 2017, of whichexport recorded the highest growth of 21.1 percent over the past seven years with29 commodities joining the one billion USD club.
Addressing a conference of the Ministry ofIndustry and Trade (MoIT) in Hanoi on January 15, Prime Minister Nguyen XuanPhuc hailed the sector for its excellent performance in 2017.
In addition to the record export growth, as oneof the top 10 events of the sector in 2017, the MoIT endeavoured to reduce andsimplify 675 investment and business conditions, accounting for 55.5 percent ofthe total.
Divestment at State-owned enterprises was one ofthe most notable achievements of the ministry last year with the successfulauction of the shares of the Saigon Beer Alcohol Beverage Corp (Sabeco),collecting nearly 110 trillion VND for the State, he said.
This demonstrated the confidence of investors in the local market, theGovernment and macro economy, he noted.
PM Phuc hailed the efforts of State groups andcompanies under the management of the ministry, particularly Sabeco, andrecognised significant and positive changes in the industrial growth model basedon processing and manufacturing industries, and reduced imports.
The MoIT worked to ensure goods supply-demandand create nearly 2.7 billion USD in trade surplus.
The PM praised the ministry for pioneering insimplification and reduction of administrative procedures, contributing toincreasing national competitiveness. It seriously implemented the Party andGovernment’s directions on restructuring the apparatus and actively handlingloss-making projects.
He also pointed to shortcomings in the field andasked the ministry to quickly address them in 2018, including some policieshindering development, weak supply-demand forecast, and loose connectivitybetween production and market to reduce risks. Exports remain in the foreigndirect investment (FDI) sector, while the country still depends on importedmaterials.
There are some restrictions in domestic marketmanagement and prevention of trade frauds. The reform of State firms is stillat the snail speed and ineffective, he noted.
The PM urged the MoIT to push ahead withprocessing and manufacturing industries in service of agriculture.
The sector should prioritise investmentattraction in hi-tech, competitive and environmentally friendly projects in2018 and the following years as well as promote production towards exports,secure the domestic market, and seek goods distribution channels to increaseadded value in processing industry in Vietnam, he recommended.
He underlined specific targets set by theGovernment for the MoIT in 2018 such as industry and construction striving tomake up 7.7 percent of the gross domestic product (GDP) and export turnover toexpand by 8-10 percent against 2017.
Localities must closely direct trade developmentand market management in their areas, PM Phuc said.
He hailed the ministry’s initiative oforganising dialogues with businesses to promote exports in 2018.-VNA
VNA
