Last updated: Thursday, February 21, 2019


2016-2020 Phase: Striving for Annual Commodity Export Growth to 8 Pct

Posted: Saturday, August 12, 2017

This goal is defined in the Vietnam commodity export competitiveness improvement scheme to 2020, with a vision to 2030, recently approved by the Prime Minister.

The specific objective of the 2016 - 2020 period is to achieve an average annual commodity export growth of 8 per cent. The commodity export value in 2020 will more than treble that in 2010, equalise the trade balance in 2020 and reach a trade surplus in 2021-2030.

At the same time, the Government also aims to increase the added value of agricultural and aquatic products by 20 per cent on average from the current level. Vietnam will gradually raise the share of agricultural and aquatic exports to developed markets (e.g. the European Union, Japan and South Korea). After 2030, an average commodity export growth will be 9 -10 per cent annually from the 2021 - 2030 phase.

Prioritised items subject to enhancing competitiveness include agricultural and aquatic products like rice, coffee, rubber, seafood and black pepper; manufactured industrials like garment and textile, footwear, woodwork, mobile phones, computers, electronic products and components; and raw materials used for garment and textile, leather and footwear, plastic, fertiliser and chemical industries.

Market policies and solutions

In order to successfully achieve these objectives, main solutions have been introduced, including reshuffling production by transforming production and export methods; changing export structures in the direction of raising the share of high value-added products; enhancing the quality of exports; developing export-oriented supporting industries; strengthening the role of FDI enterprises in enhancing Vietnam's export competitiveness; consolidating and expanding export markets; building national brands and corporate bands for exports; edging up national competitiveness, facilitating and reducing costs for businesses; boosting the capacity of export manufacturers, especially small and medium enterprises; and increasing the capacity of industry associations.

In the period from now to 2020, for products which presently have export advantages for the time being, solutions will focus on enhancing existing advantages to further boost exports. For commodities which will have export advantages, solutions will focus on creating new advantages to enhance domestic supply capacity, develop brand names and gradually expand export markets.

In the 2021 - 2030 period, Vietnam will carry out consistent measures to sharpen the competitiveness of commodities with current and future export advantages.

Boosting the capacity of export manufacturers

In addition to policy and market solutions, the group of solutions aimed to edge up the competitiveness of exporters is also clarified. Focus will be placed on small and medium enterprises. Solutions include building support policies for enterprises seeking to invest in equipment upgrading, technological upgrading and production process upgrading to meet quality and standards in importing markets; stepping up research and development, applying advanced science and technology in order to quickly shift to advanced production and management methods according to trends set by the Fourth Industrial Revolution.

Encouraging and supporting enterprises to develop commodity export strategies appropriate for specific markets and their competences; engaging in foreign production and distribution networks and global value chains.

Encouraging and facilitating enterprises to increase the connectivity among input suppliers and end-product manufacturers; among production, transportation, processing and preservation stages; among farmers, entrepreneurs, government and scientists (in agriculture), and between domestic enterprises and foreign enterprises.

Assisting enterprises in market information and trade promotion by developing market information systems and enhancing market research, analysis and forecast; supporting them in personnel training and personnel quality improvement; providing legal advice and assistance on export and import for them.

As for exporter objectives, Vietnam expects to have at least 100 exporters having products certified for carrying national brands and 200 exporters certified national quality prizes every year. It develops supporting industries, pushes up the country's industrial competitiveness index to climb at least 12 steps compared with 2015 and the national competitiveness index to jump at least 15 steps compared with 2015.

In the 2021 - 2030 period, it will have at least 200 exporters having products certified for carrying national brands and 400 exporters certified national quality prizes every year.

Last but not least, it will form highly competitive companies to boost up exports, helping raise the country’s industrial competitiveness index by at least 20 places higher than that in 2015 and the national competitiveness index by at least 25 steps compared to 2015.

Nguyen Thanh

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