Industrial and trading activities of Vietnam have sustained their growth trend although the COVID-19 resurgence has hit some provinces and cities with large industrial parks, Deputy Minister of Industry and Trade Do Thang Hai said on June 17.
Workers process fish for export at a factory in Tac Cau Fishery Port Industrial Park in Chau Thanh district, Kien Giang province (Photo: VNA)
Industrial and trading activities of Vietnam have sustained their growth
trend although the COVID-19 resurgence has hit some provinces and cities with
large industrial parks, Deputy Minister of Industry and Trade Do Thang Hai said
on June 17.
Speaking at the ministry’s
regular press meeting for the second quarter, he added exports have maintained high
year-on-year growth, which is relatively sustainable thanks to the even growth
in shipments of all the important commodities such as electronics,
textile-garment, footwear, machinery, and farm produce, and to major markets like
the US, China, the EU, the Republic of Korea, Japan, and ASEAN.
Regarding problems in industrial and trading activities,
Hai said COVID-19 outbreaks in large industrial parks have had certain
impacts on industrial production growth as well as supply chains.
Besides, the import of production materials accounts for a “very
big” proportion, about 90 percent, thus pushing up the import value and affecting
the trade balance.
Lockdowns or social distancing measures driven by coronavirus
outbreaks in some localities have also eroded consumption demand, especially for
non-essential goods, which has influenced retail sales, according to the
So far, he said, industries and trade have basically
developed as planned, with total retail sales achieving about 38 percent of
this year’s target and exports over 44 percent.
The increase in index of industrial production is currently
higher than expected, rising by 9.9 percent in the first five months compared
to the targeted 8 percent. The figure is forecast to maintain at some 9 percent
in the first half of 2021, compared to the 8-percent target for the whole year.
Exports are set to increase by
about 21.7 percent while total retail sales and service revenue 7.1 percent during
January - June, compared to the year’s respective targets of 4 - 5 percent and
The industry and trade sector will keep making efforts to
achieve its growth targets as well as those of the country, the Deputy Minister
Particularly, the ministry will continue working
to promote overseas shipments, diversify both export and import markets, optimise
opportunities generated by free trade agreements, and remove barriers to enter