On February 3, 2023, Prime Minister Pham Minh Chinh chaired the “Conference on Promoting Domestic Production and Consumption and Expanding Export Markets in 2023” organized by the Ministry of Industry and Trade.

MANUFACTURE AND IMPORT EXPORT IS OVERPRINT

In his report at the conference, Industry and Trade Minister Nguyen Hong Dien said 2022 will be a year of many unprecedented difficulties and challenges due to the rapid, complicated and varied developments in the global economy. However, under the synchronous and drastic leadership and direction of the leaders of the party and state, the government and the prime minister, the timely and effective participation of the entire political system, and the efforts of the outstanding performance of the business community, GDP achieved the highest growth rate in recent 12 years, macroeconomic stability, large balances of the economy were ensured, inflation was controlled.

Industrial production recovered positively in most industries, sectors and locations. The manufacturing and processing industry continued to be the main growth driver with an increase of 8.1% and contributed almost 2.1 percentage points to the growth rate of the total value added of the economy as a whole.

Import and export continued to grow, setting a new record with total sales exceeding $732.5 billion, up almost 10% year-on-year. Maintaining the trade surplus for the seventh consecutive year with a surplus of USD 11.2 billion (3.3 times higher than last year), positive contribution to the balance of payments, stabilization of exchange rates and economic indicators Other Macro.

The domestic market recovered strongly with high growth. Total retail sales of goods and services grew nearly 20%, exceeding the planned target by 2.5 times and covering basically essential goods that serve people and businesses.

In particular, the supply of mineral oil for the domestic market is guaranteed. Power plants run stably. The energy system always ensures a high level of redundancy.

Especially in January 2023, due to two Tet holidays (New Year and Lunar New Year), the working time in January 2023 is only 1/3 of the previous months. With the decline in external orders, businesses during Tet are mainly focused on manufacturing goods for domestic consumption. Therefore, the development index of industrial production, trade, import and export decreased in the month compared to the previous month and the same period last year.

However, the goods trade balance in January 2023 still showed a trade surplus of USD 3.6 billion (the same period had a trade surplus of USD 1.6 billion); Total retail sales of goods and services increased by 20% (up 1.3% over the same period).

In addition to the results achieved, Minister Nguyen Hong Dien also frankly pointed out the shortcomings and limitations that industry and commerce must focus on overcoming in the coming period. In particular, production and exports are showing signs of slowing, while the productive capacity of key and basic industries is only slowly improving.

In addition, the participation of domestic companies in global supply chains is still limited. Exports are still heavily dependent on the FDI sector. The market diversification of some products and the transition from unofficial to official export activities are still slow.

In addition, domestic purchasing power recovered only slowly. The situation of smuggling, trade fraud and counterfeit goods, speculation, hoarding of goods waiting for price increases, competition violations, etc. is still complicated.

Looking to the situation in 2023, the industry and trade chief said that the world and domestic situation will continue to forecast many difficulties and challenges: Global growth is slowing significantly (2023 forecast only up about 1.7%). ) due to complicated inflation developments and high interest rates; The impact of the Russia-Ukraine conflict has reduced investment and disrupted the supply of raw materials and energy, weakened global business and consumer confidence, and made manufacturing and export activities even more difficult.

Domestic purchasing power has recovered but is still weak and has not yet boosted production, investment and consumption. Production and export continue to face difficulties due to reduced order intake, high production costs due to high raw material prices, fuel and logistics costs. Access to capital is difficult for domestic companies and interest rates are high.

The more pressure, the more effort

Prime Minister Pham Minh Chinh said at the conference that the economy is facing difficulties in terms of overall supply and demand. Manufacturing and exports are showing signs of slowing. The export market is shrinking. Securing energy poses many challenges…

This requires more effort, determination, solidarity, joint effort, consensus, promoting the results achieved, seizing opportunities and benefits, overcoming difficulties and challenges, in order to successfully implement the goals of the 13th Party Congress resolution and the Five-Year Socio-Economic Development Plan for 2021-2025.

The Prime Minister instructed the Ministry of Industry and Trade to thoroughly understand the spirit of “turning danger into danger”, the more pressure, the more effort must be made; Regarding internal resources as fundamental, strategic, long-term, crucial, external resources as important and pioneering, to ensure the leadership of the Party, the administration of the state, and promote the strength of the whole society; Building an independent and self-reliant economy combined with proactive and active international integration that is comprehensive, substantial and effective; “Unification and discipline, flexible bravery, innovation, timely efficiency”…

The Prime Minister suggested that in the spirit of national and national interests, industry and trade should focus on three strategic breakthroughs (institutions, infrastructure, human resources) and three growth drivers: investment, exports and investment. Simultaneously promote digital transformation, green transformation, circular economy and climate change response; Development of an independent and responsible economy in the industrial sector.

First and foremost, according to the PM, the industry and commerce sector should focus on four sectoral plans to be chaired, including: National Electricity Plan; National Energy Master Plan; National planning for oil and gas reserves and supply infrastructure; Planning of exploration, exploitation, processing and use of minerals.

“These are all very important and very difficult sector plans, particularly the National Power Plan and the National Energy Master Plan. Until now, these plans are finalized and are in the assessment phase for approval according to the regulations,” the prime minister stressed.

In addition, synchronous implementation of production recovery and development solutions, focusing on eliminating difficulties, promoting both supply and demand sides, promoting digital transformation, developing the digital economy and the digitization of society, creating a driving force for Promote industrialization and modernization, improve productivity and quality, efficiency and competitiveness of the economy.

Focusing on the development of basic industry, processing and manufacturing industry, coupled with practical and effective supporting policies and solutions to promote digital transformation, digital economy development, digital society and digital economy development, green economy development, circular economy , adapt to climate change … to fully and effectively participate in the global value chain.

On the other hand, synchronously implement solutions to boost exports, further promote external activities, use bilateral and multilateral cooperation to maintain, expand and seek markets, use the surplus, export locations of industries and fields with advantages and the needs of the world.

Strengthening domestic purchasing power, implementing trade promotion programs in the domestic market, promoting the distribution of goods through digital platforms and e-commerce to expand domestic consumption, and developing Vietnamese brands.

Focusing on investing in upgrading the distribution system in rural and mountainous areas to encourage Vietnamese goods to be brought into the countryside; closely combine traditional and modern trade, effectively exploiting the potential market of 100 million people in the country…