Information Ministry targets 8% export growth this year

VIETNAM, January 11 –

Farmers in Nam Sách, Hải Dương province, process the locally grown carrot for export to Japan, Malaysia and the Middle East. Việt Nam’s imports and exports hit a record high of nearly S $ 670 billion in 2021, including a large contribution from agricultural products. – VNA / VNS Photo Vũ Sinh

HÀ NỘI – Although much of the economy was affected by the fourth wave of COVID-19 in 2021, Việt Nam’s imports and exports reached a record high of nearly US $ 670 billion, a increase of almost 23% compared to 2020.

This increase has placed Việt Nam in the top 20 economies in terms of international trade.

Industry and Trade Minister Nguyễn Hồng Diên announced the data at a meeting in Hà Nội on Sunday. He said: “As 2022 enters, the trade sector has set itself the target of increasing export turnover by 6-8% from 2021, while the trade balance will maintain excess.

At an annual review meeting, Dien said of total turnover, exports reached $ 336.25 billion, up 19% while the trade surplus was $ 4 billion. . He said the industry has had a successful year in exporting despite a series of difficulties.

The minister said: “Việt Nam has maintained a trade surplus for the sixth consecutive year.

Deputy Minister of Industry and Trade Trần Quốc Khánh said export growth had exceeded the 4-5% target set by the National Assembly and the government.

Khánh said raw material shipments declined last year while the volume of exports of processed and industrial products increased; processed products accounted for 86.24 percent of the export structure.

Growth has been observed in markets with which Việt Nam has signed free trade agreements (FTAs); China with 15%, the United States 24.2%, the EU 14%, ASEAN 25.8%, the Republic of Korea 15.8%, India 21%, New Zealand 42, 5% and Australia 3.1%. .

Minister Dien said that by overcoming the difficulties, the industry and commerce sector ended the year with many goals exceeding plan. In retail, industrial production continued to grow and maintain a growth rate of nearly 5 percent. The processing and manufacturing industry grew 6.37 percent, continuing to assert its role as the growth engine of the entire industry, positively contributing to economic growth, creating jobs and securing social Security.

The oil and gas industry hit all of its targets ahead of schedule, contributing the most to the budget with VN75.4 trillion. The coal industry has made efforts to overcome the difficulties and has completed its target plan for 2021.

The MoIT added that the power sector has successfully served socio-economic development and people’s daily lives, commissioning eight power projects with a total capacity of 4,350 MW and lowering electricity prices. in the country.

During the meeting, the representative of MoIT also acknowledged the dependence on the foreign direct investment sector, which has increased compared to recent years. However, the added value of exports did not work as expected as the diversification of markets for some products was still slow and unable to meet the quality standards and requirements of the markets. This does not make good use of the tariff preferences obtained through FTAs.

The representative said: “Some agricultural products are too dependent on the neighboring market and there is always a potential risk of prolonged congestion at the border post. ”

Although exports were a highlight last year, the export capacity of domestic enterprises, especially small and medium-sized enterprises, was not high.

During the meeting, Deputy Prime Minister Lê Văn Thành expressed his gratitude to the Ministry of Industry and Trade (MoIT) for its role in solving the challenges in order to achieve these strong results. He also highlighted the difficulties and limitations of the industry, known as the slow implementation of the national electricity master plan and the national energy master plan for the period 2021-2030 and a vision to by 2050.

Deputy Prime Minister Thành also mentioned that the Interior Ministry should fix the mechanism for regulating electricity prices, especially feed-in tariffs for renewable energy projects, as well as the problem of regulation of the electrical system.

The deputy prime minister said that progress in implementing key projects of some companies and enterprises was still slow and did not meet requirements. The management of border trade has shortcomings and the Ministry of Interior is expected to improve the situation of smuggling, commercial fraud, counterfeiting and counterfeiting in Việt Nam.

Thành stressed that the Ministry of Transport should focus on leading and directing the construction and implementation of the National Electricity and Energy Master Plans, as they are of great importance.

He also called on the Home Office to focus on eliminating difficulties and improving production and business efficiency in the energy, processing, manufacturing, commodities sectors. chemicals, fertilizers and the production of goods such as textiles and leather, wood processing, agriculture, forestry and fishing.

The Deputy Prime Minister asked the Ministry of Information to forecast the development of national and international markets, especially import and export activities with unpredictable fluctuations.

At the same time, the department is expected to promote exports and diversify markets and export goods, especially to potential new markets, as well as resolve issues related to customs clearance activities and prevent congestion at border crossings, especially cross-border posts. border workers Việt Nam – China. – VNS