Vietnam Aims to Raise Exports Rev by 7% to US$60.54B This Year
The Vietnamese Ministry of Industry and Trade is striving to boost the country’s export revenues to US$60.54 billion this year, up 7% from a year earlier and limit its import growth at 5.6% or US$72.68 billion.
The ministry also aims to curb the country’s trade deficit below 20% of its total export value in 2010 in line with the task assigned by the Prime Minister, the government said.
The MoIT targets to raise the country’s industrial production value and retail sales and services revenues by 12% and 22% to VND780.158 trillion and VND1,460.95 trillion this year, respectively.
Speaking at a meeting on implementing the industry and trade sector’s tasks in 2010 held in Hanoi on Jan. 14, Deputy Prime Minister Hoang Trung Hai urged the MoIT to boost export staples and diversify export markets instead of depending too much on traditional markets.
The ministry also encouraged local businesses to cooperate with foreign partners in Vietnam’s export markets to establish modern distribution networks for key exports such as apparel, wood products and electronic spare parts.
The General Statistics Office estimated Vietnam fetched US$56.584 billion from exported goods in 2009, down 9.7% on-year and spent US$68.83 billion on imports, down 14.7% on-year.
Vietnam lost US$11 billion from exports due to the falling prices of goods in the world market last year. (chinhphu.vn, Labor)
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