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Nation plans 20% boost in export revenue

06/08/2010 - 226 Lượt xem

Officials hope the total value of exports in 2007 will reach US$47.54 billion, higher than the National Assembly’s initial goal of $46.5 billion and the 2006 figure of $39.61 billion.
According to deputy trade minister Le Danh Vinh, the lofty growth target is based on new "motivating factors", including World Trade Organisation (WTO) membership, which reduces tariffs on a variety of goods, and permanent normal trade relations (PNTR) status with the

.
Based on projections, foreign firms will maintain their lead export role with shipments totalling $27.7 billion, while domestic enterprises are expected to transport $19.84 billion in goods. Agricultural, forestry and aquatic products will account for about $8.88 billion of the total value, while industrial goods will reach $19.12 billion, according to forecasters.
Vinh adds that PNTR status will also cause garment, footwear, and wood product exports to significantly increase this year, totalling: $7.12, $4.1 and $2.6 billion respectively. Electronic parts are also expected to rise sharply to $2.45 billion.
The key consumers of Vietnamese-made goods, according to the ministry, will again be the

, Association of Southeast Asian Nations members,

Japan

, the EU and

China

. Officials are also encouraging small-to-medium sized enterprises look into untapped markets around the world. The deputy minister has pointed out several challenges in 2007, including ongoing trade disputes and technical barriers. He also stresses the need to exercise stricter supervision on issuing certificates of origin and more flexible management in rice shipments. In addition, WTO membership requires the Government to eliminate export subsidies that companies have enjoyed for years.
Vinh also re-emphasised the chronic weakness among Vietnamese companies: poor competitiveness caused by a lack of investment capital, modern technology and well-developed human resources.
Competitiveness is a challenge that domestic enterprises must overcome in the long run, says Vinh, in order to survive and prosper in the international market.
To meet the ministry’s ambitious target, senior officials have backed reforms to reduce administrative red tape and improve the State’s ability to help exporters. Programmes aimed at trade promotion and developing markets need to be expanded, according to the deputy minister, while the role of overseas Government offices should be fully exploited.
The ministry intends to work more with industry leaders to encourage investment and exports, and formulate new policies pursuant to WTO regulations. There are a number of opportunities in 2007, but success will hinge on the effectiveness of lawmakers and enterprises, Vinh concluded.