Businesses should be development focus: PM

Prime Minister Pham Minh Chinh speaks at the event. (Photo: VNA)

Businesses should be made the centre of innovations and a development focus of the industry and trade sector, Prime Minister Pham Minh Chinh said at a conference in Hanoi on February 3.

The event, held by the Ministry of Industry and Trade (MoIT), aimed to promote domestic production and consumption, and expand export markets in 2023.

Noting challenges to the sector this year, the PM said they should be turned into opportunities, contributing to building an economy of independence, self-reliance, and intensive, extensive and effective international integration.

The MoIT needs to coordinate with other ministries, agencies and localities to persify markets, products and supply chains, while accelerating administrative reform, infrastructure construction and institutional building, and promoting the three growth engines of consumption, investment and export, he said.

The leader also stressed the importance of digital transformation, green economy, circular economy and climate change response, and urged the ministry to quickly complete the four master plans on electricity, energy, minerals and oil and gas infrastructure.

Solutions should be rolled out concertedly to recover and spur production, boost export, and strengthen external economic relations as well as bilateral and multilateral cooperation to maintain and expand markets, and maximise export potential, he continued.

Market persification is needed to offset difficulties in traditional markets such as the US, China, the EU, Japan, the Republic of Korea (RoK) and ASEAN, he explained, suggesting expansion to Eastern Europe, the Middle East, South America, South Asia and Africa.

Illustrative image (Source: VNA)

To stimulate the purchasing power at home, the PM urged the sector to launch more trade promotion programmes, and enhance goods distribution via digital platforms and e-commerce, with attention paid to rural and mountainous areas.

The ministry was also asked to step up market management and the fight against smuggling and trade fraud, and take specific solutions to mobilise and bring into full play resources, especially those from different economic sectors.

According to a report presented at the conference, last year, industrial production recovered in almost fields and localities, of which processing and manufacturing remained the main growth driver with a rate of 8.1%.

Export-import also hit a new record of over 732.5 billion USD in revenue, representing a 10-fold rise year-on-year. Trade surplus has been maintained for seven consecutive years, reaching 11.2 billion USD in 2022.

The total retail sales of goods and services increased by nearly 20%, exceeding the set target by 2.5 times.

Notably, Vietnam has been among the top five countries worldwide for e-commerce growth.

At the meeting, the sector proposed the Government continue with policies to boost production and business, attract more foreign investments, and soon build and approve national, regional, provincial and sectoral planning schemes, and further consolidate institutions relating to the sector./.