Domestic manufacturers have been facing many challenges includinginflation, huge stockpiles and the slowed growth of industrialproduction, according to the Ministry of Industry and Trade (MoIT).
During an online ministerial meeting held on Sept. 5, Nguyen Tien Vy,director of the Planning Department, announced that the industries whichhad seen their production slipping included detergent (0.2 percent),cable wire (22.8 percent), natural gas (6.3 percent), liquefiedpetroleum gas (5.4 percent) and petrol (2.7 percent).
Electronics and electrical appliances experienced significantdecrease with air conditioners dropping by 20.8 percent andrefrigerators by 14.5 percent, Vy said.
According to theMinistry of Planning and Investment, domestic producers have been hithard by huge stockpiles during the past two months, several businesseshaving their stockpiles account for up to 30 percent of production.
Nguyen Gia Tuong, deputy director of the Vietnam National ChemicalGroup, said that his corporation had found it hard to fulfil its 2011target of 15 percent growth due to slowed battery production alongsideincreased coal prices.
However, Tuong said that under thePrice Ordinance, his corporation had been unable to raise its productprices, making survival hard.
As a result, he added, theVietnam National Coal and Mineral Industries Holding Corporation Limitedshould design a road map on raising coal prices in order to betterprepare its partners in terms of production and consumption.
Vu Huy Hoang, Minister of Industry and Trade, asserted that whilecertain difficulties would remain until the end of the year, inflationhad been slowed in the past two months thank to a Government resolution,which in the long run could help bring inflation down to under 19percent.
The minister urged city and provincial industryand trade departments to help manufacturers sell off their stockpiledproducts, calling on Electricity of Vietnam to help power productionduring the next four months.
Hoang said that the MoITwould ask the Ministry of Finance to provide around 150 billion VND (7.2million USD) for trade promotion.
At themeeting, it was announced that Vietnam 's exports may rise by 25percent for the entire year with a lower trade deficit (around 12percent).
To boost exports and investment, the MoIT plansto help introduce Vietnamese goods into large supermarkets in Europewhile organising regular business forums.
Hoang added thathis ministry, in co-operation with the Ministry of Finance, wasreviewing export-import tariffs in order to adjust tax policies with thepurpose of enhancing exports and curbing the trade deficit. /.
During an online ministerial meeting held on Sept. 5, Nguyen Tien Vy,director of the Planning Department, announced that the industries whichhad seen their production slipping included detergent (0.2 percent),cable wire (22.8 percent), natural gas (6.3 percent), liquefiedpetroleum gas (5.4 percent) and petrol (2.7 percent).
Electronics and electrical appliances experienced significantdecrease with air conditioners dropping by 20.8 percent andrefrigerators by 14.5 percent, Vy said.
According to theMinistry of Planning and Investment, domestic producers have been hithard by huge stockpiles during the past two months, several businesseshaving their stockpiles account for up to 30 percent of production.
Nguyen Gia Tuong, deputy director of the Vietnam National ChemicalGroup, said that his corporation had found it hard to fulfil its 2011target of 15 percent growth due to slowed battery production alongsideincreased coal prices.
However, Tuong said that under thePrice Ordinance, his corporation had been unable to raise its productprices, making survival hard.
As a result, he added, theVietnam National Coal and Mineral Industries Holding Corporation Limitedshould design a road map on raising coal prices in order to betterprepare its partners in terms of production and consumption.
Vu Huy Hoang, Minister of Industry and Trade, asserted that whilecertain difficulties would remain until the end of the year, inflationhad been slowed in the past two months thank to a Government resolution,which in the long run could help bring inflation down to under 19percent.
The minister urged city and provincial industryand trade departments to help manufacturers sell off their stockpiledproducts, calling on Electricity of Vietnam to help power productionduring the next four months.
Hoang said that the MoITwould ask the Ministry of Finance to provide around 150 billion VND (7.2million USD) for trade promotion.
At themeeting, it was announced that Vietnam 's exports may rise by 25percent for the entire year with a lower trade deficit (around 12percent).
To boost exports and investment, the MoIT plansto help introduce Vietnamese goods into large supermarkets in Europewhile organising regular business forums.
Hoang added thathis ministry, in co-operation with the Ministry of Finance, wasreviewing export-import tariffs in order to adjust tax policies with thepurpose of enhancing exports and curbing the trade deficit. /.
