Trade leader acts to reverse disappointing exports
Minister of Industry and Trade Tran Tuan Anh has asked his ministry’s affiliates to simplify procedures to facilitate exports in the context of the country’s disappointing export performances.
Hanoi (VNA)🐈 – Minister of Industry and Trade Tran Tuan Anh has asked his ministry’s affiliates to review and simplify procedures to facilitate exports in the context of the country’s disappointing export performance in the first four months of the year.
The move is part of concerted efforts to carry out the Prime Minister’s instructions in the event of stalling industrial production and a slowing export growth rate, which is standing at 6 percent, well below the target of 10 percent.
Minister Anh said the ministry would shake up and supervise the granting of licences to create favourable conditions for drawing investment, as well as for domestic enterprises to step up their production and business.
At a video conference among Hanoi, Da Nang and HCM City on May 6, Phan Van Chinh, Head of the ministry’s Import-Export Department, released figures showing that April’s export reached 14.1 billion USD, up 4.5 percent from one year ago.
For the whole first four months this year, Vietnam exported an amount of goods worth 52.87 billion USD, up 6 percent against the same period last year. Of the total, foreign companies shipped 37.1 billion USD worth of commodities and local firms15.1 billion USD.
The country’s import value reached 51.4 billion USD by the end of April, down 1.2 percent year-on-year.
During the period, Vietnam enjoyed a trade surplus of 1.46 billion USD, accounting for 2.8 percent of the export turnover.-VNA
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Illustrative image (Source: VNA)
