Prime Minister Nguyen Tan Dung at the videoconference held by the Ministry of Industry and Trade, Ha Noi, January 11, 2012 - Photo

Accordingly, the MIT should cooperate with other ministries, agencies and businesses to boost production and improve the Index of Industrial Production (IIP) and Gross Domestic Product growth, he added.  

The MPI needs to improve the quality and effectiveness of its import and export management and should give top priority to accelerating export and controlling trade deficit, the PM stressed.

Besides increasing the competitiveness of Vietnamese products, the ministry should also take the lead in restructuring businesses and enhancing the effectiveness of State-owned-businesses, the PM emphasised.  

Deputy Minister of Industry and Trade Nguyen Cam Tu said that the ministry successfully accomplished its goals in 2012, citing raising the IIP up by 4.8% against in 2011 and obtaining total retails and services turnover of VND 2,324 billion, up 16%. 

Total export turnover in 2012 reached US $114.6 billion, up 18.3%, which was higher than the st yearly target of 13%. Total import turnover stood at US $114.3 billion, up only 7.1%.

The ministry’s plans for  2013 include raising the added value of the industrial and construction sector  to 6.7%, making an export value of US $126.1 billion (up 10%) and an import turnover of US $136 billion (up 19), and total retails and social services revenues of around US $2,742,000 billion, up 12%.

To the end, the ministry has set to step up production, strengthen the mobilization and effective use of investment, expand export markets, accelerate border trade activities and improve forecasting capacity.

By Thuy Dung