Trade turnover hits US$510 billion, fulfilling the promise to the Prime Minister

	Vietnam’s foreign trade to exceed 500 billion USD in 2019
	Vietnam enjoys trade surplus with Egypt
	Vietnam’s trade turnover exceeds 400 billion USD

Minister Dinh Tien Dung spoke at the ceremony. Photo: T.Binh

Achievements from reforms

Minister Dinh Tien Dung said this was a very important event, confirming the success of Vietnam’s imports and exports, contributing to social – economic development and State budget results in 2019.

The above achievements were the result of strict and effective directions of the Government, Prime Minister, efforts in administrative procedure reform, maximum facilitation oftrading activities, imports, exports of ministries, sectors, the Government and localities and the accompanying of the business community and associations and industries.

The confidence in macro-economic and social and political stability was also a strong motive to expand foreign investment, develop production and improve import and export activities of the business community.

According to the Minister, despite difficulties and challenges, such as disadvantages in international integration, slow adaptation of enterprises, high expenses of enterprises; complicated and unusual movements of climate change, natural disasters and epidemics; unpredictable fluctuations of financial markets, currencies and world trade, overall, the health of businesses is increasing, the reputation of State management agencies is increasingly enhanced, creating important premises for a new development stage.

For the Ministry of Finance, these results reflect a long-term reform process in the Government's general reform in all aspects from developing the legal system; reforming, simplifying and harmonizing administrative procedures and applying modern management technology to effectively apply information technology and new scientific and technical achievements.

Perform synchronously and drastically solutions and tasks in accordance with the objectives and requirements of the Government and the Prime Minister set out in previous Resolutions No. 19, now the Government's Resolution No. 02 on improving the business environment and national competitiveness and the Government’s Resolution No. 35 dated May 16th, 2016 on supporting and developing enterprises till 2020.

Remarkably, in 2019, the Ministry of Finance submitted to the Government and National Assembly for adoption two laws and submitted to the Government to issue a Decree to cut and simplify 129 business conditions of16 business lines. At the same time, presiding over and coordinating with seven ministries and sectors to review specialized laws. As a result, from the time of deployment till now, 12,600 of 82,698 items subject to specialized inspection have been cut.

Strong digitizationin the areas of Tax and Customs

In particular, two areas that have a great impact on the business community – Tax and Customs – have made great progressin the modernization and application of information technology.

In the area oftax, up to now, over 99.84 percent of enterprises make electronic tax declarations, over 99.22 percent of enterprises make electronic tax payments; and over 93 percent of enterprises participate in the electronic tax refund service.

In the area of customs, the Vietnam Automated Cargo Clearance System/Vietnam Customs Intelligence Information System (VNACCS/VCIS) have beenimplemented nationwide, with 99 percent of customs declarations automatically opened and cleared on the system; 96 percent of all customs duties and fees paid 24/7 through the electronic payment portal; Vietnam automated system for seaport customs management (VASSCM) is implemented at 33 of 35 local customs departments and at Noi Bai international airport with the participation of 100 percent of airlines and 413 warehouses, yards and airport operators.

Regarding the implementation of the National Single Window and the ASEAN Single Window, 188 procedures of 13 ministries and agencies have been connected to the National Single Window; C / O form D has been exchanged with 8 ASEAN countries through the ASEAN Single Window.

The Minister affirmed that such the results of reforms, in 2018, the Ministry of Finance was evaluated as the second rank in the bloc of ministries and central agencies on the administrative procedure reform index. For the past six consecutive years, the ministry was at the top of the ministries and central agencies on the readiness index for Vietnam's information technology development and application; topping the rankings with the lowest tax clearance costs.

“According to the Doing Business Report 2020 released by the World Bank on October 24, 2019, Vietnam's tax index has increased by 22 places, bringing Vietnam from 131st rank to 109th of 190 countries and territories,” Minister Dinh Tien Dung said.

Facing the increasing demands and requirements of the business community inthe process of international economic integration, the Minister affirmed that the Finance sector should make new efforts and measures to promote its production and business and promote import and export activities.

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"The Ministry of Finance is committed to further working with ministries, central agencies and localities to strive to cooperate and provide practical solutions to solve the difficulties and problems of the business community and implement tasks and solutions to improve the business environment, improve national competitiveness, contribute to attracting investment, reduce clearance time and costs for businesses with the goal of setting new records in the future years,” the Minister said.