Party chief hails industry-trade sector as economic spearhead
Updated : Thursday, July 12, 2018 9:40 AM (GMT+0700)

Overthe past 30 years of reform and integration, the industry and trade sector hasbecome a spearhead economic sector, providing important momentum for nationalrecovery and development, and helping Vietnam turn from a poor country into amiddle-income nation, said the Party chief. 

Party General Secretary Nguyen Phu Trong speaks at the working session - Source: VNA

General Secretary of theCommunist Party of Vietnam (CPV) Central Committee Nguyen Phu Trong made theremarks at a working session with leaders of the Ministry of Industry and Trade(MoIT) on the implementation of the Resolution of the 12th NationalParty Congress, as well as major tasks for the remaining months of 2018 and theyears beyond.  

The industry, trade, andservice sector currently contributes over 80 percent to the nation’s grossdomestic product (GDP) and about 70 percent to the State budget collection, hesaid. 

The Party leader said afterthe 12th National Party Congress in 2016, the industry and tradesector has faced a range of difficulties and challenges. However, the sectorhas made all-out efforts to complete its assigned tasks and make significantcontributions to the country’s reform, integration, and socio-economicdevelopment, he stressed.

He asked the MoIT tothoroughly grasp the strategic policies and guidelines of the Party; keep aclose watch on the domestic and international situation in order to activelyintegrate into the world; build on the socialist-oriented market economy; andwell handle relations between the State, market, and society. 

Minister of Industry andTrade Tran Tuan Anh reported that industrial production has fulfilled andexceeded the set targets, up from 7.4 percent in 2016 to 9.4 percent in 2017.The rate stood at 10.5 percent in the first half of this year. 

Last year, Vietnam’s exportturnover exceeded 200 billion USD for the first time, after the previous yearcame close with some 180 billion USD. The country ran a trade surplus of 2.7billion USD in the first six months of this year, he said. 

Regarding the organisationalapparatus, Anh said the MoIT has cut 675 business conditions, removed 420 outof 720 goods codes subject to pre-clearance inspections, scrapped 183 out of508 administrative procedures, and implemented 154 out of 298 online publicservices at levels three and four. 

The MoIT has also built andsubmitted for approval 110 legal documents, completing all of its set targets,helping remove obstacles for businesses. 

Besides this, the sector hasworked hard to speed up capital divestment, equitisation, and rearrangement ofState-owned enterprises practically and effectively, with the most noteworthybeing the equitisation of Sai Gon Beer Alcohol Beverage Corporation(Sabeco), regaining 110 trillion VND (4.84 billion  USD) for the Statebudget, the minister said.


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