Minister

Production back to pre-pandemic level

06:00 | 23/07/2022 Trade

(VEN) - Minister of Industry and Trade Nguyen Hong Dien says industrial production, especially the manufacturing and processing sector, has been restored to pre-pandemic levels. He spoke at a recent conference to review first-half operations and set out second-half tasks, saying that the industry and trade sector will make greater efforts to exceed its set targets.

production back to pre pandemic level
A conference to review first-half operations and set out second-half tasks

Significant contributions

Despite numerous difficulties and challenges, the industry and trade sector yielded positive results in the first half of the year, making significant contributions to the country’s socioeconomic development, Minister Dien said.

Nguyen Thuy Hien, deputy director of the Planning Department under the Ministry of Industry and Trade, highlighted bright spots related to the industry and trade sector’s growth goals in the first half of the year. Accordingly, the added value of the industrial sector increased by 8.48 percent compared to a year ago. Total export-import turnover reached an estimated US$371.3 billion, with exports increasing by 17.3 percent to more than US$186 billion.

In particular, the export growth rate of the domestic sector (19.5 percent) overtook that of the FDI sector (16.6 percent), reflecting intensified efforts of domestic businesses to restore trade, production and supply chains. In addition, total retail sales of goods and services reached VND2,717 trillion, a year-on-year increase of 11.7 percent.

Petrol and oil supply for the domestic market in the first half of the year was also guaranteed.

production back to pre pandemic level
Minister of Industry and Trade Nguyen Hong Dien presents medals to outstanding individuals

Support for firms, individuals

Minister Dien praised the industry and trade sector’s efforts in overcoming numerous difficulties and challenges amid global uncertainty. First, the industry and trade sector has been active in providing advice on opening the economy, ensuring the supply of petrol and oil, and performing the tasks assigned by the party, the National Assembly and the government.

Second, the sector has ensured sufficient supply of essential goods for people’s daily lives and domestic production, as well as providing support for businesses and individuals. Third, industrial production, especially the manufacturing and processing sector, has been restored to pre-pandemic levels.

Minister Dien also pointed out six tasks for the remaining months of the year to complete and exceed the set targets. First, the sector needs to closely follow ongoing developments and grasp the guidelines and resolutions of the party, the National Assembly and the government.

Second, the sector must pay great attention to overcoming difficulties facing businesses and individuals and propose solutions to curb inflation, ensure market stabilization, diversify supply sources and accelerate public investment disbursement.

Third, the sector must focus on establishing discipline in direction and operations, strengthening inspection and supervision, and providing a good working environment.

Fourth, the sector needs to strengthen information dissemination about the guidelines, viewpoints and policies of the party and state, as well as the efforts and achievements of the industry and trade sector.

Fifth, localities and businesses need to strengthen coordination with the Ministry of Industry and Trade.

Last but not least, institutes, schools and businesses need to follow the direction of the Ministry of Industry and Trade to improve efficiency and quality of training, especially of human resources for fundamental industries.

Phuong Lan & Hoang Lan