According to Prime Minister Nguyen Xuan Phuc, in order to export goods sustainably, one of the key points is to study carefully, stick to market demand, "sell what the market needs instead of what you have".
Link with FDI
Speaking at the National Conference on total solutions for export promotion taking place in Ha Noi on the morning of 23 April 2018, the Prime Minister Nguyen Xuan Phuc stated that last year, export turnover reached more than $US 200 billion, including big turnover commodities such as electronics, processing products and agricultural product, etc.
Vietnam has nearly completed opening up new market access with 12 FTAs that have been signed and under negotiation, as well as concluding several FTA negotiations. This is an important factor which helps Vietnam to not having to rely on a few partners, and only on some commodities for contributing to improving the autonomy of the economy.
Regarding import-export procedures, the Prime Minister affirmed that investment, Customs, seaports, quarantine procedures were better. "Although there are still some problems, the reform of import-export procedures has been better", the Prime Minister said.
However, according to the Prime Minister, the procedures have been improved but the whole system is not really good for export. In addition, global trade difficulties this year still continues due to tensions in many countries and regions. Thus, the threat of trade war can take place. In addition, the protectionist trend is rising, especially in the first months of this year, which needs to be considered for diversifying exports.
On the issue of increasing value added to ensure sustainable export in the coming time, the Prime Minister stated: The immediate task is to support Vietnamese enterprises to link with the FDI sector, move up the global value chain. "We have over 70% export based on the FDI sector, so if we can link domestic enterprises with FDI sector, Vietnam will gradually self-control, enhance value added in the export. This is a very difficult problem that the Ministry of Industry and Trade together with relevant ministries and departments need to calculate, research, to come up with specific solutions", the Prime Minister said.
According to the Prime Minister, "the important point is that ministries and industries should pay attention to eliminating bottlenecks in export, continue to improve the business investment environment. I suggest that the ministries and branches should focus on removing difficulties for enterprises in taxes, fees, Customs, production costs, specialized inspections. Besides, it is necessary to build a modern logistics system at a cheaper cost".
Stick to market signals
According to the Prime Minister, with many more commodities, especially agricultural products, foodstuff, the standards for plant protection are increasingly strict. It is difficult for production without good management of inputs to export.
On the other hand, the competitiveness of export is increasingly fierce. Meanwhile, some people and manufacturing enterprises are not attached to the market. Accordingly, some products affect the reputation of Vietnamese goods.
In that context, the Prime Minister stressed that, especially with agricultural production, the Ministry of Agriculture and Rural Development and other localities must closely follow the market signals, implement real restructuring of the industry in the direction of boosting export, raising output, quality, and added value to meet the requirements of import market.
The Prime Minister also said that the search and conquering of the export market in general must be carried out more effectively. This is done through the implementation of international commitments; increasing measures to remove barriers, conditions for export good,; as well as addressing issues such as anti-subsidy and anti-dumping.
"We need to continue to look for other potential export markets other than those that we have signed with the FTAs; fundamentally change trade promotion, expand the market for export goods", the Prime Minister said.
One of the points emphasized by the Prime Minister is that in addition to direct exports, Vietnamese goods need to penetrate the distribution channel of the global retail group. Therefore, Vietnamese enterprises and products must strive to meet the quality standards of participating distribution channels of these corporations.
Source: VCN
Key words: Prime Minister, don’t lock, stable door, horse, bolted, export
