With the aforementioned achievements, Minister of Industry and Trade Tran Tuan Anh said Vietnam has become a big exporter in the world, adding that the export sector has greatly contributed to realizing the target of high economic growth in line with macro-stabilisation and inflation control last year.In the very first days of 2019, Minister Tran Tuan Anh granted an interview to reporters on the ministry’s concrete steps to fulfill the mission of ‘making breakthroughs’ set by Prime Minister Nguyen Xuan Phuc in his new-year message.First, could you please share some information regarding national economic growth in 2018?We have witnessed all-out efforts by the political system as a whole, especially the coherent, comprehensive and aggressive management and direction by the government. The GDP growth of 7.08% last year was a positive signal as it surpassed the economic target set out earlier that year.The impressive achievement is attributable to drastic guidance by the … [Read more...] about Minister of Industry and Trade
Ministry of industry and trade
Ministry of Industry and Trade issues circular on certificates of origin
Goods exported from Vietnam would be applied with the C/O mechanism. (Photo: VNA) Hanoi (VNA) - The Ministry of Industry and Trade has issued Circular No 03/2019/TT-BCT stipulating the certificates of origin (C/O) rules in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). According to the ministry’s Import-Export Department, the CPTPP has some differences compared to other Free Trade Agreements (FTAs) which Vietnam has signed including the rule of origin of goods and rules of origin of refurbished and recycled goods. The C/O form issued to Vietnam’s exported goods including the minimum information required by the CPTPP was also issued alongside the circular that will take effect from March 8, 2019. Regarding the mechanism for certification of origin, goods exported from Vietnam would be applied with the C/O mechanism by agencies and organisations authorised by the ministry. The transition time to implement the mechanism of exporters … [Read more...] about Ministry of Industry and Trade issues circular on certificates of origin
Ministry warns of USD3 bn trade deficit
The Ministry of Industry and Trade has forecasted that Vietnam would face a trade deficit of USD3 billion this year. The information was shared at a meeting held by the ministry on January 17 to review activities in 2018 and set the goals for its goals for 2019. The Ministry of Industry and Trade has forecasted that Vietnam would face a trade deficit of USD3 billion this year. The Ministry of Industry and Trade reported that total trade value was estimated at USD482.236 billion in 2018, up 12.64% on-year. Of the sum, export value accounted for USD244.7 billion, up 13.8% on-year. In 2018, Vietnam saw a trade surplus of USD7.2 billion, the highest level so far. The ministry, however, warned that this year, the situation would change, and the country would face a trade deficit of USD3 billion. According to experts, the implementation of free trade agreements as well as the EU-Vietnam Free Trade Agreement was expected to bring a new investment wave into Vietnam with a range of … [Read more...] about Ministry warns of USD3 bn trade deficit
PM: industry and trade sector must accelerate reform process
This remark was made by Prime Minister Nguyen Xuan Phuc at a conference held by Ministry of Industry and Trade (MOIT) to outline its tasks for 2019, on January 17. PM Nguyen Xuan Phuc hailed its intensive administrative procedure reform with 72.1 percent of business conditions being cut down, which, he said, has helped facilitate production and the development of enterprises. However, he pointed out several shortcomings facing the sector, including the slow implementation of several plans and the asynchronous revision of some others that have knock-on effects for the country’s general development. The industrial sector has yet to meet national economic development requirements as there is currently no spearhead industry that can really take the lead and improve national competitiveness. Meanwhile, there are still issues that persist relating to digitalisation in industrial production and trade that need to be tackled soon, he added. Minister of Industry and Trade Tran Tuan Anh … [Read more...] about PM: industry and trade sector must accelerate reform process
Ministry of Planning and Investment prepared to respond to economic changes
The Ministry of Planning and Investment (MPI) will keep track of the economic changes in the domestic and the world markets, and strengthen its role as a Government advisory body to help ensure the success of the national targets set for this year. This statement was made by Minister Nguyen Chi Dung on Wednesday during an online conference reviewing its work in 2018 and setting tasks for the next 12 months. Attending the meeting, Deputy Prime Minister Vuong Dinh Hue applauded the MPI’s contribution to the country’s economic success. Ending 2018, Viet Nam accomplished and even went beyond the targets set by the National Assembly. The economic growth reached a record of 7.08 per cent, the highest in 10 years, beating forecasts by many domestic and international organisations. Inflation was kept at 3.54 per cent, well in line with the target of below 4 per cent. The economy’s size has expanded substantially with clear changes in the growth model. The Deputy PM … [Read more...] about Ministry of Planning and Investment prepared to respond to economic changes