Clearing hurdles is a must for business operations

The government leader made the request at the Ministry’s meeting in Hanoi on January 15 to review the industry and trade sector’s performance in 2017 and formulate tasks for 2018.

In his speech, PM Phuc hailed the sector’s overall achievements over the past year and highlighted its role in national economic development, noting that what have been achieved has showed its honour and responsibility for prosperity and the destiny of the nation.

 According to a report given by MoIT Minister Tran Tuan Anh on achievements made in the sector in 2017, the sector fulfilled or even surpassed all targets set by the National Assembly and the Government providing a significant contribution to the country’s socio-economic development.

Notably, the industrial production index grew by 9.4% with the manufacturing and processing industry showing impressive growth of 14.5%, generating the impetus for the expansion of the whole industry in 2017.

Last year saw Vietnam’s exports rise 21% to cross the US$200 billion mark for the first time, which was especially dramatic growth considering the slow growth in global trade while many markets were finding ways to enhance domestic protectionism and strict controls on imports.

Markets with which Vietnam signed free trade agreements witnessed substantial gains as the opportunities presented by integration commitments were better exploited than in previous years.

To reach and surpass this year’s targets set for the sector by the National Assembly and Government, the focus will be on nine key tasks, including effective implementation of the domestic trade development strategy through 2025, with a view ahead toward 2035 with the Prime Minister’s approval to lay the foundations for stronger economic growth in the years to come.

The Ministry will also accelerate equitisation, State capital disinvestment and restructuring of State-owned enterprises, while promoting the development of different economic sectors and forms of enterprise in line with the resolution adopted at the 12^th Party Central Committee’s on fine-tuning institutions on the socialist-oriented market economy.