Export turnover to top 239 billion USD this year
Updated : Friday, October 19, 2018 9:36 AM (GMT+0700)

Thecountry’s export turnover this year could reach 239 billion USD, increasing11.2 percent from last year, said Deputy Minister of Industry and Trade DoThang Hai.

 
The country’s export turnover this year could reach 239 billion USD - Photo: VNA

Agricultural and seafoodexports were expected to reach 27.5 billion USD, representing a 5.4 percentyear-on-year increase; material and minerals 5.1 billion USD, up 6 percent; andprocessing 196.1 billion USD, up 12.5 percent.

Speaking at the press meetingheld in Hanoi on October 17, Hai said Vietnam’s exports had surpassed its settargets so far this year.

By the end of September, 26products had achieved export turnover of more than 1 billion USD. Of these,eight items had export turnover of over 5 billion USD and another five posted10 billion USD export turnover in the first nine months of the year.

For example, exports of mobilephones and spare parts reached 36.13 billion USD, garments and textiles 22.56billion USD and computer and electronic spare parts 21.65 billion USD.

Notably, exports of domesticcompanies continued to see a high growth rate. In the January-September period,the local firms earned 51 billion USD from exports, posting a 17 percentyear-on-year rise.

“The exports in the periodshowed the positive growth results of domestic enterprises”, he added.

12 loss-making projects handled in 2020

Duong Duy Hung, head of theministry’s Planning Department, said the country aimed to basically resolvedifficulties for the 12 loss-making projects and would completely handle themby 2020.

Hung said the handling of allof the projects saw positive signs after the National Assembly promulgated theResolution 33 in November 2016 and the Prime Minister’s Decision in September2017 to resolve the projects’ difficulties.

Accordingly, DAP1 Dinh Vuin Hai Phong city and the Vietnam-China Steel Plantreported profits of 147.6 billion VND and 527.4 billion VND respectively in thefirst eight months of the year.

Another four projects whichhave resumed their operation but still reported losses had plans to reducecosts and re-arrange production. 

Some production lines of PVTEXDinh Vu came into operation in April. It would operate all production lines inthe upcoming time.

He said the two bio-fuel plantsof Dung Quat and Binh Duong, and Phuong Nam Paper Plant have also been ready torestart their operations.

Regarding existing problems,he said there were eight projects facing the disputes in EPC contracts buthaving been slow to be solved.

5.5trillion VND used to curb retail prices

Deputy Minister Hai said theministries of Industry and Trade and Finance used 5.5 trillion VND from theprice stabilisation fund as subsidies to keep retail prices stable.

In the latest priceadjustment, petrol prices were increased by 700 VND per litre following thesurge in the world market.

“With the hike in the worldmarket, the retail petroleum price would be increased by over 1,000 VND perlitre. However, it was increased by 700 VND per litre thanks to the pricestabilisation fund”, he said, adding that this was benefit brought by the fund.

As of September 25th,the fund balance was 3.1 trillion VND. He said that the operation of the fundhas been effective in regulating petroleum prices, contributing to controlprices of commodities, thereby helping stabilise the market and controllinginflation.

He noted that the retailpetrol prices in the upcoming time would depend on the world price and thebalance of the price stabilisation fund.

Source:VNS/VNA

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