PM asks for increased export for sustainable development

21:06 | 23/04/2018
Prime Minister Nguyen Xuan Phuc has affirmed that controlling markets is a way for the Vietnamese economy to take off. 
pm asks for increased export for sustainable development
Prime Minister Nguyen Xuan Phuc (Source: VNA)

He made the statement during a national conference in Hanoi on April 23 discussing comprehensive measures to boost exports hosted by the Ministry of Industry and Trade.

The PM said successful countries and businesses consider the world as a market to expand their reaches, thereby seeking ways to improve their competitiveness.

The domestic market with a population of nearly 100 million is important, but it is necessary to look at the global market to achieve sustainable growth, he said.

The leader noted that though administrative procedures have improved, they remain below expectation. He expressed his wish to listen to policy feedback of localities and associations to increase added value of exported commodities, thus making it easier for Vietnamese firms to join the global value chain.

He underscored the need to update Vietnamese exporters about market information and legal regulations abroad, opportunities and risks, and orientations to manufacturing and exports.

Leaders of localities and ministers were required to look towards export to contribute to sustainable growth. Based on public feedback, the PM will issue a Directive on measures to boost manufacturing and exports.

Minister of Industry and Trade Tran Tuan Anh said the country’s exports grew by 15.8 percent last year, exclusive of cell phones, computers and electronic spare parts.

Exports still predominantly rely on foreign-invested enterprises, which contribute over 70 percent.

Though tariff has been cut to zero percent, Vietnam’s farm produce such as milk, pork, fruits and vegetables still find it hard to enter foreign markets, he said

The Ministry of Industry and Trade proposed three major measures to sustainably step up exports, including restructuring agriculture, closely controlling supply, and gradually improving the quality of agricultural and aquatic products.

It will also work to maintain stable export markets, improve the efficiency of trade promotion, and cope with trade defence and protectionism that are not in line with international commitments.

At the same time, the ministry will step up institutional reform, refine legal corridor for export activities, accelerate administrative reform, and clear barriers to payment and credit to ensure sufficient capital for manufacturing and export, the minister added.

VNA

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