Minister urges greater industrial output

The Ministry of Industry and Trade has asked manufacturers to step up production in the remaining months of the year to help keep the trade deficit under 20 per cent.

Minister Vu Huy Hoang asked State-run corporations and economic groups to take detailed measures to offset potential obstacles to business success.

Key projects, particularly in power production and export capacity, were particularly in need of enhancement, the minister said.

He added that vulnerable products, such as steel and food items for the full moon festival and Tet (Lunar New Year), needed to be strictly monitored for price and quality.

Price stabilisation and supply and demand must be maintained, he said.

He added that greater attention should be paid to the “Made-in-Viet Nam products” programme.

HCM City’s price stabilisation tools that have proved their effectiveness over the past few months would soon be introduced in new areas by the end of August, he said.

The minister forecast that inflation would remain within 7 per cent and 8 per cent this year.

The ministry said the value of industrial production in the first seven months of the year reached VND434.8 trillion (US$22.9 billion), up 13.5 per cent against the same period in 2009.

Export revenue to July 31 stood at US$38.3 billion, an increase of 17.5 per cent against the first seven months of last year.

The trade deficit was reportedly $7.4 billion, equal to 19.5 per cent of the export revenue. — VNS

Tags: Vietnam industrial output, Vietnam industries, Vietnam industry