MIT presents solutions to boost exports for the second half

VGP – The Ministry of Industry and Trade (MIT), in its recent teleconference, publicized key solutions to ensure goods supplies, boost export and diminish trade deficit for the rest of the year.

July 18, 2008 8:45 PM GMT+7

MIT’s teleconference centers on solutions to boost exports and diminish imports for the rest of the year - Photo: VGP

According to the updated figures of the General Department of Việt Nam Customs, export value in June was estimated at US $6.2 billion, up 49.1% over the same period of 2007; the import turnover also dropped down to US $6.92 billion from US $7.67 billion in May.

Việt Nam targets to export US $61.2 billion for the whole year. Meanwhile, the year import value will be constrained below US $80.2 billion. These norms, according to the MIT, are feasible.

The ministry will ask the State Bank of Việt Nam to reduce the lending interest rates, provide foreign currencies, increase credits, and give more priorities to producers of exports and primary goods with a view to ensuring commodity supplies and price stability.

In the remaining months, the MIT will closely work with the Ministry of Finance, Ministry of Agriculture and Rural Development, Ministry of Transport, and local authorities to accelerate administrative procedures reform to facilitate export as well as import of materials and fuels.

The MIT is listing some imports which are not encouraged or strictly monitored, including consumer goods, automobiles, steel products, coke coal, petrochemical products, gold, and precious stone .

By Phùng Lợi