Can you give an overview of the results that industry and crafts have achieved in 2022, especially in the area of ​​industrial production and export?

In 2022, Vietnam will fulfill the task of socio-economic development in the context of the fast, complicated, unpredictable and different international situation. Meanwhile, Vietnam’s economy has great openness, limited internal capacity, resilience and adaptability, and is in the process of development and transformation with long-standing problems that can be fully overcome… This poses great difficulties and challenges for the economy in many areas.

Under the proactive, flexible and drastic leadership and direction of the leaders of the party and state, together with the timely and effective participation of ministries, branches and communities, together with outstanding efforts from the business community and the people, the socio-economic development situation of our country in the year 2022 has bounced back strongly with many positive results. The macro economy is fundamentally stable, large balances are secured, economic growth is high, inflation is under control…

One of the most outstanding highlights of the economy is that Vietnam’s import and export of goods continues to hit new record levels in the context of the global economic slowdown and the decline in export growth of many economies. Specifically, the total import-export turnover in 2022 is estimated at USD 732 billion, an increase of over 10% from 2021; where export is estimated at $371.5 billion, an increase of about 10.5%, exceeding the target set by the National Assembly and the government (an 8% increase is planned). The number of items with export sales over $1 billion is expected to reach 39 items (an increase of 4 items from 2021), of which 9 items have export sales over $10 billion (an increase of more than 1 item) . ) compared to 2021).

The structure of export goods continues to improve in a positive direction, reducing the amount of raw material exports, increasing exports of processed and manufactured products, and creating conditions for deeper participation of Vietnamese goods in the global production and supply chain. The group of processed industrial products continues to occupy a large part of the export structure, accounting for more than 86% of the total export turnover. The trade balance continued to record a trade surplus for the seventh consecutive year, with a surplus of nearly $11 billion, almost three times the level of 2021, which made a positive contribution to the balance of payments and helped increase foreign exchange stability and other macroeconomic indicators of the economy.

Another bright spot is the strong recovery and growth of the domestic market with consumer demand stimulus packages. Total retail sales of goods and services are expected to grow 21% in 2022, far exceeding the 8% target. The situation of power generation and supply, which basically meets the needs of production and people’s daily life in the context of the global energy crisis, is also a remarkable bright spot of the industry.

As for petroleum products, 2022 is a particularly difficult year for the domestic petroleum market, when gasoline prices are increasing in line with world gasoline prices, supply is limited, and some situations have occurred local shortage of petroleum in some places. Faced with this situation, the Ministry of Industry and Trade has implemented timely and effective solutions to ensure the supply of petroleum at the same time. As a result, the domestic oil supply is fundamentally guaranteed, the demand for domestic production and consumption is covered, and there is no local petrol shortage.

How does the minister forecast the economic situation in 2023?

I think that industry and trade will also be confronted with many difficulties and challenges in 2023. The conflict between Russia and Ukraine is ongoing, which continues to make energy supplies and prices complicated and unpredictable. Geopolitical conflicts, strategic competition among major economies are becoming increasingly fierce, along with inflation, economic recession and global growth slowdown are still threats to countries’ economic security. Large traditional import-export markets are being squeezed and companies’ access to markets and capital remains difficult.

Although the domestic economy has shown notable signs of recovery, growth in the final months of 2022 has shown signs of slowing, impacting the implementation of growth targets set by the National Assembly and the government.

Free trade agreements (FTAs) have historically become a lever for Vietnam’s export growth, so what does the minister expect for FTAs ​​in 2023?

A special feature in the context of the complicated developments of the Covid-19 epidemic is the participation in free trade agreements, in particular new generation free trade agreements such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the Vietnam – European Union Free Trade Agreement (EVFTA) and the Vietnam-United Kingdom and Northern Ireland Free Trade Agreement (UKVFTA) have helped sustain Vietnam’s impressive export growth while partially limiting the negative impact of the epidemic on the country’s trade and economy.

It can be said that the implementation of Vietnam’s FTAs ​​will continue to be effective in 2023, especially in markets that are considered potential and scope for FTA use for Vietnam due to the high rate of FTAs ​​The share in many high-export industries is still low, as in the European Union with industries such as seafood, rice, textiles, shoes, fresh vegetables and processed fruits and vegetables (market share ratio), these our products only reached 4.2%, 2.7%, 3.8%, 20th % and 2.7%) or similar Canada and Mexico with fisheries, telephone and components, textiles, shoes, wood and wood products.

I believe that state administrations and the business community will continue to work hand in hand so that free trade agreements continue to be the driving force for export growth that matches our potential, economic growth, capacity building and competition of Vietnamese companies in balance with FDI companies, resulting in the positioning of Vietnamese product brands contributes to the international market.

In 2023, the industrial and commercial sector aims to increase the industrial production index by 8-9%; The total export turnover increased by about 6% compared to 2022. Can you please tell me what solutions the ministry will implement in the next year in order to achieve the set goals?

In order to overcome difficulties and challenges and to further stabilize the macro economy in 2023, industry and trade will focus on three key tasks.

firstIn relation to industrial production, we will focus on helping companies to find the source of raw materials and materials for production before taking the risks of supply chain disruption. Prioritize ensuring supply, particularly for items and materials likely to be short- or long-term, to have proper promotions policies.

At the same time, the ministry will continue to implement programs to connect domestic companies to participate in the supply chains of FDI companies and large global companies, with a focus on solving difficulties and helping companies to restore production and business . The ministry will also focus on the synchronous implementation of solutions to stabilize production to ensure supply and demand balance for key commodities such as gasoline, electricity, coal, fertilizers, etc.

Monday, With regard to import and export, the Ministry of Industry and Trade will increase the use of signed free trade agreements, focus on developing new markets, focus on developing neighboring markets with potential…to expand diversification of markets, supply chains and exports and to diversify.

Continued innovative trade promotion, prioritizing e-commerce development resources to promote goods consumption through e-commerce channels; Improving the efficiency and regulating the speed of customs clearance of import and export goods in the Vietnam-China border area, especially for seasonal agricultural and aquatic products. …

Tuesday, Regarding the development of the domestic market, the Ministry of Industry and Trade will coordinate with the municipalities and enterprises in the field of distribution and logistics to focus on developing the domestic market, which still has potential for growth in connection with the foreign markets. tends to shrink. Carry out drastic and rhythmic works to ensure the supply and demand for household goods, stabilize the prices of essential goods …

For petroleum products, we will regularly direct, inspect and urge companies to strictly implement the assigned additional import plan to make up for the shortage of goods so as not to disrupt the supply. Gasoline and oil in trading system, ensuring energy security, preventing supply shortage in all situations; at the same time, the government’s urgent review and advice on amending and supplementing Government Decree No. 83/2014/CP and Decree No. 95/2021CP.

VnEconomy January 23, 2023 10:00

The content of the article was published in the special issue Xuan Quy Mao of Vietnam Economic Magazine, published on January 23, 2023. Welcome readers to read This:

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