Business

Industry-trade ministry to focus on four targets

The Ministry of Industry and Trade has set four targets to help the country’s gross domestic product (GDP) expand by 6.7 percent in 2017, Minister Tran Tuan Anh said at a conference in Hanoi on January 6.
Industry-trade ministry to focus on four targets ảnh 1Minister of Industry and Trade Tran Tuan Anh (Photo: VNA)
Hanoi (VNA) – The Ministry of Industry and Trade has set four targets tohelp the country’s gross domestic product (GDP) expand by 6.7 percent in 2017,Minister Tran Tuan Anh said at a conference in Hanoi on January 6.

Theindustrial production index is expected to increase by 8-9 percent while theexport growth is hoped to surpass 6-7 percent, and trade deficit is kept under 3.5percent of the export revenue. The total retail goods sales and service revenueare projected to grow by around 10-11 percent this year, Anh noted.

Inthe foreseeable future, the ministry will step up the restructuring of the industrytowards enhancing the development of the processing and manufacturing sectorswhile reducing the outwork and assembly of made-in-Vietnam industrial products,he said.

Apartfrom removing a number of complicated administrative procedures, the ministrywill improve the business environment to create the best conditions for enterprisesto develop, the minister added.

Theministry will take full advantage of free trade agreements (FTA) to activelysupport domestic enterprises to participate in the global supply chains.

Additionally,the ministry will put forth policies to provide more assistance for the supportingindustry, while working with the involved parties to simplify customsprocedures and supply businesses with useful information to prevent and handletrade disputes, he affirmed.

Atthe conference, Anh proposed the Prime Minister approve a particular mechanismto implement urgent power projects, a plan for the restructuring of businessesunder the Electricity of Vietnam Group (EVN) in the 2016-2020 period, and astrategic scheme to develop the power sector through 2025 and with a visiontowards 2040.

Healso recommended the government approve a framework for the average retailelectricity prices between 2017 and 2018, and a decision to increase the EVNchartered capital.

TheMinister asked the government to direct the Ministry of Finance to support theVietnam National Oil and Gas Group (PetroVietnam) to implement the governmentguarantee undertaking (GGU) commitments on preferential tariff for the Nghi SonRefinery and Petrochemical Complex within 10 years after its commercialoperation.

Healso suggested the government mull over solutions to support the oil and gas,coal, and fertilizer sectors and adjust the Government Decree No.203/2013/ND-CPon the method of calculation and collection of money from mineral mining./.
VNA
#industry #trade #GDP
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