Digitalising trade promotion activities and the application of information technology are important aspects of the country’s strategy for building a digital government, digital economy, and digital society, said Vu Ba Phu, Director of the Vietnam Trade Promotion Agency (Vietrade) under the Ministry of Industry and Trade (MoIT).
The distribution systems of foreign retailers have become an effective and sustainable export channel, and the Ministry of Industry and Trade (MoIT) will continue to support domestic firms to make the most of this channel, said Deputy Minister of Industry and Trade Do Thang Hai.
The Vietnamese retail sector has recovered to the pre-COVID-19 level, with 53.8% of total retailers reporting similar or better business outcomes, according to Vietnam Report JSC.
The Ministry of Industry and Trade (MoIT) will continue to design more plans to effectively implement the campaign of encouraging Vietnamese to prioritise Vietnamese products, while speeding up administrative reform to gain public confidence, according to Deputy Minister Do Thang Hai.
The Ministry of Industry and Trade (MoIT) asked the Ministry of Finance (MoF) and the State Bank of Vietnam (SBV) to review and adjust the cost of importing petrol and oil, standard business costs and profit based on trading realities.
A representative of the Ministry of Industry and Trade (MoIT) said that export turnover in 2022 could burgeon to 800 billion USD, maintaining the trade surplus proportion of 7-8 percent set by the National Assembly and the Government.
Domestic businesses showed positive signs of recovery, exports increased and supply chains resumed in the first months of this year, experts have said.
While many exporters and producers had orders for 2022, they are worried about a possible shortage of production materials because of supply disruptions from China.
The Ministry of Industry and Trade (MoIT) has issued Decision No. 706/QD-BCT on the imposition of temporary anti-dumping tax rates on some types of welding materials of the Malaysian, Thai and Chinese origins.
The Ministry of Industry and Trade (MoIT) on April 5 held a conference to evaluate trade promotion activities in the first quarter of this year and seek ways to help localities, economic sectors and businesses surmount difficulties and build strategies to expand international trade activities in the new situation.
The Ministry of Industry and Trade (MoIT) welcomes offers given by developed countries, including the UK, to support Vietnam in building legal frameworks and provide Vietnam with necessary technologies, experience and capital to develop renewable energy in order to realise commitments at the 26th UN Climate Change Conference (COP26), stated Deputy Minister Dang Hoang An.
The Ministry of Industry and Trade (MoIT) will apply various measures to promote intrinsic strengths for a better year for the sector in 2022, Minister Nguyen Hong Dien told the media on the threshold of the Lunar New Year.
The Ministry of Industry and Trade (MoIT) has said this year it will closely coordinate with several foreign multinationals like Samsung and Toyota to connect with local suppliers of materials and accessories, in an effort to seek alternative supply for imports in both short and long terms.
The Ministry of Industry and Trade (MoIT) has forecast that total import-export revenue this year may reach a new record, at between 640 - 645 billion USD, with a slight trade deficit.
Boosting the development of the supporting industry is considered an important solution to help improve the quality and competitiveness of the Vietnamese economy and better serve the processing-manufacturing sector.
The Ministry of Industry and Trade (MoIT) has decided to impose official anti-dumping and anti-subsidy duty of 47.64 percent on a number of cane sugar products originated from Thailand for five years from June 15, according to the Trade Remedies Authority.
Despite a rise in export revenue in the first four months of this year, experts suggested that businesses should not be too optimistic as the COVID-19 pandemic has seen complicated developments both in and outside the country.
The People’s Court of Hanoi on April 22 resumed a trial for ex-minister of industry and trade Vu Huy Hoang who involves in the cases of “violating regulations on the management and use of State assets, causing losses and wastefulness,” and “violating regulations on land management” that occurred in the Ministry of Industry and Trade (MoIT) and Ho Chi Minh City.
The Ministry of Industry and Trade (MoIT) has issued an express dispatch requesting the People's Committees of cities and provinces and Vietnam Electricity (EVN) to urgently review and list all issues related to solar power development.
Vietnam has set an annual growth target of 15-20 percent for the logistics sector, making up 8-10 percent of the country’s gross domestic product (GDP). Besides, logistics costs are also expected to reduce, equivalent to 16-20 percent of the GDP.
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