PM Nguyễn Tấn Dũng tells trade sector to target firm domestic trade and strong export growth
05:05 | 25/11/2006
VNGOVNet – In the morning of November 24, in Hanoi, the Ministry of Trade organized the 60th anniversary of the establishment of the Vietnamese trade sector. The ceremony was attended by leaders of the Communist Party and Government, and representatives of bodies at central and local levels.
 

Photo: Đức Tám

 

In his speech at the ceremony, PM Nguyễn Tấn Dũng highly hailed the trade sector’s great efforts in its 60-year evolvement. The PM stressed that after joining WTO and successfully holding APEC Vietnam 2006, the country expected both new opportunities and challenges lying ahead. It is therefore crucial that the sector acts to boost the national economic growth, improving growth efficiency and sustainability so as to convert Vietnam into an industrialized country by 2020.

To that end, according to the PM, the sector must make sure that a steadily-growing and sophisticated internal trade runs on a wide variety of distribution systems and channels involving all economic organizations and sectors in a competitive environment ruled by State macro-management. Commodity trade should be promoted in tandem with development of investment and service trade. At the same time, export needs to be increased at a high and sustained growth rate, setting the stage for boosted GDP, more generated jobs, faster economic restructuring, and deeper international economic integration.

Some achievements made by the Vietnamese trade sector in the five years from 2001-2005 include:

- Total retail of goods and services: VND 1,650 trillion, increasing by 14.8% on average;

- Total commodity export turnover: nearly US$ 11 billion, rising by 17.5% per year on average (original target of 16%);

- Service export turnover: over US$ 21 billion, increasing by 15.7% per year 

In the first ten months of 2006, the country’s export kept the momentum of rapid growth gained from the previous years, increasing by 24.2% against the same period of 2005. Trade deficit narrowed. Domestic market expanded at a strong and sustained pace./.

By Hoàng Nguyên Hồ

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