10 remarkable events of industry, trade sector
16:48 | 10/01/2018

VGP – The Ministry of Industry and Trade (MoIT) on January 10 announced 10 remarkable events of the industry and trade sector in 2017.  

Illustration photo

1. The Government issued Decree No. 98/2017/NĐ-CP stipulating functions, tasks, rights and organization of the MoIT. 

2. The MoIT has removed and simplified 123 administrative procedures. As many as 675 business and investment conditions were cut down, 63 conditions higher than the expected plan and equivalent to 55.5% of the total conditions. After the reduction, the remaining conditions are 541.

3. The Ministry has approved a plan to tackle shortcomings of some ineffective and sluggish projects and businesses under the control of the industry and trade sector. 

4. Total exports-imports set a record of US$420 billion, including US$2113.8 billion from exporting, up 21.1% against the previous year. The trade surplus reached US$2.67 billion, the highest figure ever recorded. A total number of 29 export items joined the US$1 billion export club. 

5. The auction of up to 54% of Saigon Beer - Alcohol - Beverage Corporation succeeded, gaining nearly VND110,000 billion (around US$5 billion). 

6. The law on foreign trade management was approved by the National Assembly with 88% of deputies giving approval. The law consists of eight chapters with 113 articles, stipulating measures on foreign trade management, the development of foreign trade activities and applying measures on foreign trade management.

7. The industry and trade sector completed the sector’s development norms set by the National Assembly and the Government. 

8. The 23rd APEC Ministers Responsible For Trade (APEC MRT 23) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) Ministerial Meeting were successfully organized. 

9. A number of automobile manufacturing and assembly projects kicked off including the ground-breaking ceremonies of THACO-Mazda automobile manufacturing plant with designed capacity of 100,000 cars per year and VINGROUP’s electric automobile and motorbike manufacturing complex named Vinfast, representing a total investment capital of VND35 trillion (US$1.5 billion), marking the group's first step to become Southeast Asia's “Made in Viet Nam” automobile brand. 

10. Since January 1, 2018, RON 92 petrol has been fully replaced with E5 bio-fuel nationwide. 

By Hoang Ha

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