Industry-trade ministry urged to remove difficulties for businesses
Prime Minister Nguyen Tan Dung has instructed the Ministry of Industry
and Trade (MoIT) to give a shot in the arm to local businesses in 2014
as economic restructuring continues apace.
Prime Minister Nguyen Tan Dung has instructed the Ministry of Industry
and Trade (MoIT) to give a shot in the arm to local businesses in 2014
as economic restructuring continues apace.
Addressing MoIT’s New Year conference in Hanoi on January 10, the PM said the ministry should focus its full attention on introducing policies that assist the building of domestic brands and fully develop support industries, thus increasing the technological and local content of made-in-Vietnam products and allowing a step by step switch from subcontracting and assembling to designing and manufacturing.
PM Dung suggested that the “Vietnamese people using Vietnamese goods” campaign should be further expanded, while the ministry must play a more active role in negotiating free trade agreements (FTA) and popularising already-signed deals so that domestic enterprises can make full use of the available preferential treatment.
He also demanded that the ministry strengthen market management in order to curb the abundance of fake goods, trade fraud and smuggling, while ensuring the supply-demand balance for essential commodities.
The leader noted that the application of a market pricing mechanism on electricity, coal and petrol should continue to be implemented in line with the set roadmap in a transparent manner, taking into account the need to keep inflation under control. At the same time, there should be appropriate policies to support the poor and beneficiaries of social welfare.
The Government leader commended the MoIT for the work it had done in 2013 in the context of the economic downturn. He said the ministry’s efforts have resulted in quarterly increases in industrial production and sharp decreases in inventory index. The domestic market has maintained a healthy growth while exports have surpassed the set targets.
According to reports at the conference, the industrial production index saw a 5.9 percent rise in 2013, compared to 5.8 percent in 2012. Total retail and services revenues for the year rose by an estimated 12.6 percent from the previous year. The country earned more than 132 billion USD from exports, up 15.4 percent from the 2012 figure and higher than the yearly target set by the National Assembly.
The ministry is resolved to continue with institutional reforms and completing the legal framework for the industry and trade sector with the goal of creating a fair business environment in line with the socialist-oriented market economy and international practice.
Sustainable development of export is also high on the ministry’s working agency for 2014, together with restructuring industrial production and developing support industries.-VNA
Addressing MoIT’s New Year conference in Hanoi on January 10, the PM said the ministry should focus its full attention on introducing policies that assist the building of domestic brands and fully develop support industries, thus increasing the technological and local content of made-in-Vietnam products and allowing a step by step switch from subcontracting and assembling to designing and manufacturing.
PM Dung suggested that the “Vietnamese people using Vietnamese goods” campaign should be further expanded, while the ministry must play a more active role in negotiating free trade agreements (FTA) and popularising already-signed deals so that domestic enterprises can make full use of the available preferential treatment.
He also demanded that the ministry strengthen market management in order to curb the abundance of fake goods, trade fraud and smuggling, while ensuring the supply-demand balance for essential commodities.
The leader noted that the application of a market pricing mechanism on electricity, coal and petrol should continue to be implemented in line with the set roadmap in a transparent manner, taking into account the need to keep inflation under control. At the same time, there should be appropriate policies to support the poor and beneficiaries of social welfare.
The Government leader commended the MoIT for the work it had done in 2013 in the context of the economic downturn. He said the ministry’s efforts have resulted in quarterly increases in industrial production and sharp decreases in inventory index. The domestic market has maintained a healthy growth while exports have surpassed the set targets.
According to reports at the conference, the industrial production index saw a 5.9 percent rise in 2013, compared to 5.8 percent in 2012. Total retail and services revenues for the year rose by an estimated 12.6 percent from the previous year. The country earned more than 132 billion USD from exports, up 15.4 percent from the 2012 figure and higher than the yearly target set by the National Assembly.
The ministry is resolved to continue with institutional reforms and completing the legal framework for the industry and trade sector with the goal of creating a fair business environment in line with the socialist-oriented market economy and international practice.
Sustainable development of export is also high on the ministry’s working agency for 2014, together with restructuring industrial production and developing support industries.-VNA
You should also see
Government’s action programme cracks down on illegal fishing
A raft of measures to deal with illegal, unreported and unregulated (IUU) fishing is included in the Government’s freshly issued action programme as the country is striving to clamp down on illegal fishing, or else it will be hit by the European Commission (EC)’s warning card.
See more
Business
Vietnam - an enticing destination for foreign investors: IMF expert
Vietnam is an attractive destination for foreign investors thanks to its high, stable growth, large domestic market and young, well-educated human resources, said Paulo Medas, head of the International Monetary Fund (IMF) team to Vietnam at the Annual Meetings of the IMF and the World Bank Group (WB) held recently in the US.
Business
More efforts needed to maintain export growth to China: Insiders
Exporters should further strengthen trade connections and improve the quality of their goods to sustain export growth to China as this is no longer a "lenient" market, said insiders.
Business
Banks propose raising small loan cap to 400 million VND
Credit institutions have proposed to raise the cap of small loans not requiring feasible capital use plans and related person information from 100 million VND to 400 million VND (15,710 USD).
Business
Demand for prime retail space on the rise in HCM City’s downtown: Savills Vietnam
Luxury brands are looking for high-quality retail space in District 1 - the downtown area of Ho Chi Minh City, according to Savills Vietnam.
Business
Da Nang to have first smart airport terminal in Vietnam
The international terminal of Da Nang Airport, based in the central city of Da Nang, is set to become a smart terminal under a partnership between the Da Nang International Terminal Investment and Operation JSC (AHT) and FPT Software.
