PM stresses industry and trade visions

13:45 | 07/01/2017 Events

PM Nguyen Xuan Phuc has pointed to less reliance in natural resources and a fair business environment created for citizens and enterprises as  major visions for the industry and trade sector.

PM Nguyen Xuan Phuc addresses at the video-teleconference on the performance in 2016 and tasks in 2017 of the industry and trade sector, Ha Noi, January 6, 2016 - Photo: VGP

PM Phuc made the points on January 6 in Ha Noi while attending a video-teleconference on the performance in 2016 and tasks in 2017 of the industry and trade sector.

In spite of numerous difficulties triggered by natural disasters and great headwinds from international markets, 12 preset norms were outstripped and two others were closely fulfilled.

Applauding Ministry of Industry and Trade

The manufacturing and processing industry became a bright spot in terms of growth with a 11.2% rate in comparison with 10.5% recorded last year.

Total retail sale of goods and social service surged sharply by 10.2%.

A series of trade promotion activities and the campaign on “Vietnamese use Vietnamese goods” served to alter awareness of domestic customers.

The fight against smuggling, trade frauds, counterfeits, and poor-quality products was fundamentally conducted.

PM Phuc applauded the Ministry of Industry and Trade for its decision to abolish Decision 6139/QD-BCT on the Planning of rice exporters in line with market signals.

Especially, total export turnover jumped 8.6%. Trade surplus valued US$ 2.68 billion, serving to improve trade balance. Viet Nam jumped 14 steps to the 73rd place out of 139 countries and territories in the World Economic Forum’s Global Trade Report in 2016.

Nevertheless, the PM also mentioned shortcomings, a sharp decline in mining exploitation (nearly 6%) including 10% of crude oil export; projects running unprofitably; ineffective strategies and planning schemes regarding mechanics, automobiles, and steel; and unfruitful SOEs restructuring process.

Generating a fair business environment

PM Phuc stressed that the Vietnamese industry must reduce its reliance on unsustainable advantages such as crude oil, coal, ore and move from a natural resources-based industry to an innovation-based economy.

In the short term, Viet Nam still depends on two factors of high added value, namely science-technology, natural resources and labor. In the long term, science-technology and innovation would be the important direction for Viet Nam.

The Government leader stressed the need to generate an environment in which both citizens and people would do decent and fair business without any hindrances.

PM Phuc tasked the Ministry to resolve dozen of unprofitable projects; speed up trade promotion programs; improve market management; re-arrange cross-border trade; beef up e-commerce; attach more importance to the domestic market; and strive for higher export growth rate.

The Government chief noted the importance of tackling legitimate trade barriers to protect the domestic market; mobilize resources from all economic components; uphold the role of commercial counselors and professional associations; build brand names; develop auxiliary industries and hi-tech farming.

The PM asked for robust restructuring of the trade and industry sector to seize Viet Nam’s strengths in the fourth industrial revolution. However, he also noticed the sector to pay attention to environmental protection.

Theo VGP