Trade ministry marks 60th anniversary

Prime Minister Nguyen Tan Dung has asked the Ministry of Industry and Trade (MOIT) to ensure policies are in place to meet the nation’s development plans.

Addressing a meeting to mark the 60th year since the ministry was founded on May 14,1951, the Prime Minister praised its achievements over the last six decades.

“These gains can be attributed to the great efforts of various generations of leaders and workers over the course of building and developing the industrial and trade sector,” Dung said.

Viet Nam is now entering a new period of development which will present many difficulties and challenges. It requires the ministry to seize the opportunities that present themselves and overcome challenges to complete the mission assigned it by the Party and Government from now till 2020 so that our nation will become fully industrialised.

“Our goal is that by 2020, 85 per cent of the GDP will come from the industry and service sectors. Of that, high tech services and products should account for about 45 per cent of the GDP, while the manufacturing sector should account for 40 per cent of the total industrial value. In the next five years, we’ll try to increase the value of the industry and construction sectors to 7.8-8 per cent per year, while export turnover is expected to increase by 12 per cent per year. Hopefully by 2020 we will be able to balance exports and imports,” Dung said.

To achieve these targets, it is imperative the MOIT formulate good and workable annual strategies to boost the industry and trade sectors.

Dung has ordered the ministry to focus on ensuring there is a sufficient supply of essential commodities for production and people’s daily life.

In addition, Dung called on the ministry to give priority to the manufacturing sector to boost its competitiveness, as well as the production of goods that are likely to be exported.

In the immediate future, Dung said it was imperative the ministry worked closely with other sectors to ensure they were taking part in the energy-efficiency campaign.

During the meeting, the MOIT was awarded the Independence Order – First Class by the Party and Government in acknowledgement of its great contribution to the cause of national liberation and unification and in building and defending the homeland.

Since 1986, when Viet Nam embarked on the renewal process, export turnover has increased 92-fold.

Viet Nam has established formal economic and trade relations with 230 countries and territories.

Viet Nam is now a member of the World Trade Organisation and has formed free trade areas with numerous countries. Its foreign trade activities have increased year by year. Export turnover now accounts for almost 150 per cent of the country’s total GDP – if imports are not subtracted from the total. Meanwhile the problem of an import surplus has been kept under control. — VNS

Tags: Vietnam exports, Vietnam exports 2011, Vietnam trade