Vietnam sets high export targets in 2014

Thursday, 2014-02-20 14:04:36
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Nhan Dan - Vietnam hopes to achieve export growth of 10 percent in 2014 compared to that of 2013 under the 2014 socio-economic development plan approved by the National Assembly.

This is indeed a difficult challenge for the country at a time when the world economy is forecast to face continuing difficulties that will reduce consumption demands and lower the prices of many types of export goods. In addition, protectionism is generally increasing around the world, particularly in the form of anti-dumping lawsuits and technical barriers, making it difficult for Vietnamese exporters to develop markets and seek partners.

The structure of Vietnam's export goods is also not optimized, with a low proportion of processed goods and an abundance of low value-added products (especially agricultural products), in addition to a heavy dependence on imported materials and equipment from abroad. The export revenue of foreign-invested companies accounts for a large proportion of the total, particularly that of high-tech products such as computers and phones.

To fulfill the target set for 2014, there must be close co-ordination between ministries, sectors and enterprises, with the leading role played by the Ministry of Industry and Trade. It also requires comprehensive measures to ease difficulties for enterprises and facilitate their business activities in gaining access to loans, purchasing or leasing land and performing administrative procedures.

It is necessary to increase activities seeking out markets and those expanding and boosting trade promotion programmes, with the focus placed on developing countries, potential and emerging markets. There should be policies put in place to support the consumption and export of agricultural and aquatic products, in addition to major export products such as textiles and footwear. To reduce the dependence on imported materials, domestic production needs to be fostered, particularly the enhancement of supporting industries and industries with great comparative advantages and high levels of competitiveness.

The communication work and the role of Vietnam Trade Offices abroad are also of great importance, as they will expediently grasp the changes of policies and mechanisms related to exports, announcing them to domestic agencies which can then better handle potential problems.

This year, Vietnam is on the way to negotiate free trade agreements with other partners, including the Trans-Pacific Partnership, which once signed are expected to open up big opportunities for the country's major exporting products. Thus, domestic enterprises should utilise the favourable conditions from such agreements to boost exports and enhance the efficiency of exports to other member countries.