The Ministry of Industry and Trade announces new highlights in the Import-Export Strategy to 2030

Illustrative photo. Photo: T.Hoa

The first is a new point in the Strategy perspective.

The strategy mentions three points of view, corresponding to factors related to import and export development, including: growth quality; growth drivers and modes; growth orientation.

The Strategic perspective emphasizes the requirements of sustainable export development, and at the same time specifies factors to achieve sustainability such as structural harmony, trade balance, short-term and long-term goals, social justice, and environmental protection. The strategy also mentions that green trade and fair trade are the concerns of developed countries around the world.

The second is a new point in the Strategy objective.

The strategy sets the overall target as: "Sustainable development of import and export with a balanced and harmonious structure, promoting competitive and comparative advantages, developing the brand name of Vietnamese goods, and enhancing the position of Vietnamese goods position in the global value chain, is the driving force of rapid and sustainable economic growth”.

“Compared with the ‘Strategy for import and export of goods for the 2011-2020 period’, the target does not set specific numerical targets but identifies the goal of sustainable import and export development and is the driving force behind of fast and sustainable economic growth," a representative of the Import-Export Department said.

For specific goals, in addition to the goals of export and import growth; on trade balance, the Strategy for additional objectives on the structure of exports, the structure of the export and import markets to concretize the view of sustainable import and export development on the basis of a harmonized commodity structure, market structure and trade balance with each market and market area.

The third is a new point in the Strategic orientation.

The strategy identifies three major orientations in terms of goods export and import, and the development of export and import markets. In particular, the supplementary strategy orients the development of the import market for goods, putting it on par with the task of developing the export market for goods.

Regarding the general orientation of commodity exports, the Strategy on orientations for sustainable export development, promoting comparative advantages and transforming the growth model; attach importance to the issue of efficient use of resources, protection of the ecological environment and settlement of social problems.

Regarding the orientation of the export sector, the Strategy does not specifically mention the orientation of the group of fuels and minerals (currently accounting for only 1% of export turnover), but instead adds the following orientation: “Do not encourage the development of production and export of products that are resource-intensive and cause environmental pollution; focus on investment and development of export of green and environmentally friendly economic products.”

Another new point mentioned by the Import-Export Department is a new point in the solution to implement the Strategy.

The strategy focuses on six main groups of solutions with many new points compared to the "Import and Export Strategy for the 2011-2020 period".

Typically, solutions to develop production (including industrial and agricultural production), create a sustainable supply for export.

In the content on agricultural production development, the new point is "promoting the role of the locality in selecting suitable agricultural products to form a concentrated production area according to the planning; develop a strategy to develop key products, featured agricultural products, develop brands along with quality and food safety standards that meet international standards.”

Regarding the development of export and import markets, ensuring sustainable growth in the long term, the new point is the import promotion solutions and the consideration of gradually lowering protective barriers to put pressure on domestic manufacturing enterprises to improve economic efficiency, reduce costs, and compete with imported goods; innovate and diversify trade promotion methods for import and export through promoting the application of information technology and digital transformation.

Notably, perfecting institutions, strengthening state management in the organization of import and export activities in order to facilitate trade, combat trade fraud and aim for fair trade are new solutions compared to "Commodity import and export strategy for the 2011-2020 period”.

From the perspective of improving the role of associations, industries and nuclear enterprises, promoting the formation of large-scale export value chains, the new point of the solution group is that the role of nuclear enterprises is mentioned and focused on.

Based on the objectives, orientations, solutions and groups of solutions of the Strategy, the Prime Minister assigned the Ministry of Industry and Trade to coordinate with ministries and branches in formulating an action plan to implement the Strategy. The action plan will specify the content and tasks of the ministries, branches, agencies, completion time and resources for implementation, promulgated at the beginning of the third quarter of 2022.