PM asks for increased exports for sustainable development

ABO/NDO – Prime Minister Nguyen Xuan Phuc has affirmed that controlling the markets is a promising avenue to make the Vietnamese economy take off.

Prime Minister Nguyen Xuan Phuc speaking at the meeting.

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

The PM said successful countries and businesses consider the world as a market to expand their reach, 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 while administrative procedures have improved, they remain below expectations. He expressed his wish to listen to policy feedback from localities and associations to increase the added value of export commodities, thus making it easier for Vietnamese firms to join the global value chain.

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

Leaders of localities and ministers were encouraged to look towards exports 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% last year, excluding cell phones, computers, and electronic spare parts.

Exports still predominantly rely on foreign-invested enterprises, which contribute more than 70%.

Though tariffs have been cut to 0%, Vietnam’s farm products 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.

The Ministry 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 reforms, refine the 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.

(Source: NDO)