Hanoi (VNA) – Minister of Industry and Trade Nguyen Hong Dien has ordered businesses, associations, and industries to stay agile and move with market developments so as to sustain growth.
At an export-import event held by the Foreign Trade Agency on August 1, Dien emphasised sharper policy advice, particularly in drafting decrees and circulars that align domestic law with commitments under free trade agreements (FTAs), so as to contribute to delivering on the economic growth target of 8.3-8.5% this year.
He called for stronger connections between Vietnamese firms and global supply chains led by FDI-invested and multinational corporations, creating opportunities for domestic industries to expand.
Along with market information, trade promotion activities must be improved, cross-border e-commerce expanded, and businesses supported in taking full advantage of the FTAs.
Minister Dien urged cooperation from relevant ministries, sectors, and localities to address difficulties, create favourable conditions, and promote export. The ministry takes responsibility for negotiations to open additional export markets for Vietnamese goods, particularly agricultural and aquatic products, while easing credit access for production and business.
Enterprises and industries he said, must keep a close watch on the market, enhance training on market entry skills, and contribute feedback to policy development and FTA negotiations.
A report from the Ministry of Industry and Trade showed that total trade revenue in the first half rose by 16.1% year-on-year to 432.1 billion USD, with export reaching nearly 220 billion USD, and import 212.2 billion USD, up 14.5% and 17.9% against the same time last year, respectively.
Vietnam’s trade growth has faced mounting challenges in recent years, from intensifying strategic competition and trade disputes among major powers to rising protectionism and climate-related technical barriers. These developments have disrupted global supply chains and weighed heavily on open economies like Vietnam’s, according to the minister.
The event featured the release of the Vietnam import-export report 2024, the ministry’s official publication providing detailed insights into trade performance by commodity group and market, utilisation of free trade agreements (FTAs), and trade management efforts.
According to the report, in 2024, Vietnam’s import-export sector rebounded strongly, supported by a more favourable macro-economic environment, concerted efforts by the Government, ministries, and sectors, as well as the resilience of the business community.
Thanks to unified leadership from the Party and State, timely actions by ministries and localities, and the remarkable efforts of enterprises and people, Vietnam’s economy continues to flourish. Import and export companies have posted record-breaking growth, a vital driver of national development, the minister affirmed./.
The Foreign Trade Agency under the Ministry of Industry and Trade released the Vietnam import-export report 2024 on the occasion.
According to the report, in 2024, amidst a more favourable macroeconomic environment, and thanks to strong efforts by the Government, ministries, and sectors, along with the resilience of the business community, Vietnam’s import and export activities rebounded sharply. The sector made a positive contribution to overall economic growth and played an important role in maintaining macroeconomic stability.
