Hanoi, August 11 (VNA) – Positive changes recorded in industrial production in the first seven months of 2014 helped fuel the growth of export, and relevant agencies are set to employ various measures for the activities soon to reach yearly goals.
Nguyen Tien Vy, Director General of the Ministry of Industry and Trade’s Planning Department, said the index of industrial production (IIP) in July picked up 0.2 percent from June and 7.5 percent from a year before.
Particularly, the value of the processing and manufacturing industries climbed by 10.3 percent annually, he added, noting that the production of fibre and apparel surged by 23.3 percent and 12 percent year on year, respectively.
Meanwhile, July export turnover also witnessed a 0.2 percent increase from June to 12.4 billion USD and a 7.7 percent rise from the same period last year.
About 2.1 billion USD of that sum came from the shipment of textile and garments, rising by 11.1 percent from June and 17.4 percent yearly.
In the seven-month period, Vietnam fetched 83.5 billion USD from exports, up 14.1 percent annually.
However, Deputy Minister of Industry and Trade Tran Tuan Anh said lower prices and output of many key farm produce such as rice, coffee beans, rubber and cassava resulted in a drop in their overseas shipment.
Vietnam sold 3.9 million tonnes of rice in the seven months, from which it earned 1.7 billion USD, down 8 percent and 4.7 percent respectively. Meanwhile, the volume and value of export cassava also experienced respective 5.9 percent and 6.7 percent decreases to stand at 2 million tonnes and 650 million USD, he noted.
Anh pointed to outdated cultivation techniques, mismanagement, and a lack of cohesive coordination in the goods supply chain from farmers, businesses to banks. Such shortcomings have made Vietnam fail to turn out high quality products to meet the global demand.
The ministry targets an export turnover of 146 billion USD, jumping by 10.6 percent from last year, and a trade surplus of 500 million USD in 2014.
To that end, it will carry out an array of measures right from August to facilitate industrial production and export, reduce unsold inventory, and closely monitor import, Minister Vu Huy Hoang said.
He added negotiations of free trade agreements are being hastened so as to make use of tax and export incentives in both traditional and new markets as soon as possible.
At the same time, the ministry will work with the Ministry of Agriculture and Rural Development to restructure the agro-forestry-fishery sector and connect farmers and businesses in order to ensure stable material supply and improve export values.
Hoang said more policies favouring the selling of commodities traded in large volumes such as rice, aquatic products, coffee beans, peppers and cashew nuts are being built.
Meanwhile, the ministry is also striving to better forecast market fluctuations and update manufacturers and exporters about trade barriers to smooth the way for their activities, the official noted.-VNA
Nguyen Tien Vy, Director General of the Ministry of Industry and Trade’s Planning Department, said the index of industrial production (IIP) in July picked up 0.2 percent from June and 7.5 percent from a year before.
Particularly, the value of the processing and manufacturing industries climbed by 10.3 percent annually, he added, noting that the production of fibre and apparel surged by 23.3 percent and 12 percent year on year, respectively.
Meanwhile, July export turnover also witnessed a 0.2 percent increase from June to 12.4 billion USD and a 7.7 percent rise from the same period last year.
About 2.1 billion USD of that sum came from the shipment of textile and garments, rising by 11.1 percent from June and 17.4 percent yearly.
In the seven-month period, Vietnam fetched 83.5 billion USD from exports, up 14.1 percent annually.
However, Deputy Minister of Industry and Trade Tran Tuan Anh said lower prices and output of many key farm produce such as rice, coffee beans, rubber and cassava resulted in a drop in their overseas shipment.
Vietnam sold 3.9 million tonnes of rice in the seven months, from which it earned 1.7 billion USD, down 8 percent and 4.7 percent respectively. Meanwhile, the volume and value of export cassava also experienced respective 5.9 percent and 6.7 percent decreases to stand at 2 million tonnes and 650 million USD, he noted.
Anh pointed to outdated cultivation techniques, mismanagement, and a lack of cohesive coordination in the goods supply chain from farmers, businesses to banks. Such shortcomings have made Vietnam fail to turn out high quality products to meet the global demand.
The ministry targets an export turnover of 146 billion USD, jumping by 10.6 percent from last year, and a trade surplus of 500 million USD in 2014.
To that end, it will carry out an array of measures right from August to facilitate industrial production and export, reduce unsold inventory, and closely monitor import, Minister Vu Huy Hoang said.
He added negotiations of free trade agreements are being hastened so as to make use of tax and export incentives in both traditional and new markets as soon as possible.
At the same time, the ministry will work with the Ministry of Agriculture and Rural Development to restructure the agro-forestry-fishery sector and connect farmers and businesses in order to ensure stable material supply and improve export values.
Hoang said more policies favouring the selling of commodities traded in large volumes such as rice, aquatic products, coffee beans, peppers and cashew nuts are being built.
Meanwhile, the ministry is also striving to better forecast market fluctuations and update manufacturers and exporters about trade barriers to smooth the way for their activities, the official noted.-VNA
