Hanoi (VNA) – The Minis🔥try of Industry and Trade is enacting measures to remove bottlenecks for exports in the remaining months of 2016.
According to Deputy Minister Hoang Quoc Vuong, export turnover reached 96.83 billion USD between January-July, up 5.3 percent over the same period last year.
However, this increase is much lower than the yearly target of 10 percent that the National Assembly has set, he said, adding that the export growth is likely to stand at only 8 percent for the whole year if prompt measures are not implemented.
Phan Thi Dieu Ha, a representative from the ministry’s import-export department, explained that the unfavourable weather conditions such as drought and saltwater intrusion along with the unpredictable development of global crude oil prices have significantly affected farm produce.
It is also the case that import countries are increasing commercial protection measures and technical barriers to make it difficult for foreign exporters to enter their markets, she said.
The restructuring of local agro-forestry-fisheries production is still at a small-scale, while processed industrial goods – the biggest contributor to export growth, showed a decline over the same period last year, she noted.
To address these problems, the Ministry of Industry and Trade has reviewed and adjusted incompatible legal documents and called on businesses to make use of free trade agreements (FTA).
The ministry’s import-export department is building a specific project for farm produce as this commodity is the most sensitive to market impacts.
The ministry will have a working session with the Ministry of Agriculture and Rural Development on August 11 to put forth practical measures to balance local production for exports to key markets where Vietnam is facing difficulties.
Deputy Minister Vuong said the ministry will mull over regulations relating to import-export procedures as well as improve administrative reform and promotion activities.
He confirmed that the ministry will promulgate policies to enhance production so as to increase export value.
The signing of several FTAs this year, particularly the Trans-Pacific Partnership (TPP) agreement and the Vietnam-EU free trade agreement, is expected to open up new opportunities for Vietnamese exports, he said.-VNA
Vietnam targets average export growth of 11-12 percent a year until 2020 and gradual reduction of imports to wipe out the trade deficit by then and achieve a surplus by 2030, according to its overseas market development plan.
Vietnamese firms should learn more about trade defence instruments allowed under the WTO and jointly use them to protect themselves, a seminar heard in HCM City on June 29.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
Processing farm produce for exports (Photo: VNA)
