Measures for GDP growth in Q4
(VOV) -The Ministry of Industry and Trade (MoIT) has insisted on practical measures to boost GDP growth in the last three months of this year, with priority given to industrial production, export value, and market stabilization.
The MoIT expected to see higher industrial production increasing in the fourth quarter at a year-on-year rate of 5.7%.
It asked the industrial sector to strictly inspect its production activities and closely cooperate with associations in helping local businesses iron out their snags.
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In addition, it is essential to lower inventory level on the domestic market and launch promotion programmes in both Vietnam and abroad to promote consumption and facilitate production, the Ministry said.
It also asked the industrial sector to speed up the implementation of key projects in the support industry.
The MoIT forecast that Vietnam’s exports will hit US$131 billion, up 14% from a year earlier, and its imports achieve a year-on-year increase of 15.6% to US$131.5 billion by the end of this year. As a result, the 2013 trade deficit will stay at US$500 million.
The Ministry said it is currently engaged in bilateral and multilateral negotiations to expand market share and promote export activity. The focus will be on implementing the already signed free trade agreements (FTAs), exploring traditional markets, and penetrating new markets in the Middle East, West Asia, South Asia, Africa, and Latin America, it said.
Regarding the domestic retail market, the MoIT proposed balancing supply and demand and stabilizing market prices. Retail sales and services in 2013 are expected to rise 13% compared to last year’s figure.
The Ministry stressed the need to implement promotion programmes in rural, border and remote areas and encourage local consumers to buy made-in-Vietnam products.
It also requested relevant agencies to pay due attention to combating counterfeit and low-quality products and protecting consumer rights.