Export predicted to go up this year

VNGOP – The Ministry of Industry and Trade (MIT) has recently proposed to the Government some additional solutions to step up export and reduce import, so as to curb inflation, stabilize the macroeconomic, and guarantee sustainable growth.

April 19, 2008 7:20 AM GMT+7

To decrease import, the consumption of domestic products should be boosted – Illustration photo

According to the MIT, it is essential to provide sufficient foreign currencies to importers of materials for the production of exports. At the same time, producers of exports should be granted with foreign currency loans to develop their operation.

Preferential credits should be given to export producers using domestic materials. The MIT also urged to boost the reform of administrative procedures relating to tax reimbursement and customs.

The demand for necessary imports should be properly reduced and controlled. In addition to this, the consumption of domestically-made products should be popularized.

The MIT estimated that, in April, export turnover may reach US $4.9 billion, up 36% compared to March. Thus, the total export turnover in the first four months will be US $18.06 billion, increasing 27% against the same period last year.

The MIT also predicted that, thanks to policies on monetary control, reducing spending, delaying ineffective projects, and keeping the total investment for capital construction, the import turnover in the remaining quarters will decrease compared to the first three months.

By Thùy Dung