Industry and Trade sector removes difficulties for production, business, import and export

Comrades: Le Hong Vinh - Member of the Provincial Party Standing Committee, Permanent Vice Chairman of the Provincial People's Committee; Pham Van Hoa - Director of the Department of Industry and Trade co-chaired at Nghe An bridge. Photo: PV

Reporting at the conference, the leader of the local Department of Industry and Trade said that in the first quarter of 2023, the industrial production index decreased by 2.2% compared to the same period last year (in the same period, it increased by 6.8%). Total retail sales of goods and consumer service revenue increased by 13.9% over the same period last year. Export turnover of goods is estimated at 79.17 billion USD, down 11.9% over the same period (in the same period, it increased by 14.4%). Import turnover of goods is estimated at 75.1 billion USD, down 14.7% over the same period last year (in the same period, it increased by 15.6%).

In Nghe An, the industrial production index in the first quarter increased by 5.81% over the same period in 2022. Total retail sales of goods are estimated at VND 22,547.2 billion, up 12.15% over the same period in 2022, reaching 26.52% of the plan. Export turnover of goods is estimated at 521.6 million USD, down 5.8% over the same period in 2022, reaching 20.8% of the plan. Some items grew compared to the same period in 2022 such as: Cement increased by 20.8%, seafood increased by 164%, footwear of all kinds increased by 85.7%, rice increased by 137%, electric wires and cables increased by 16%; plastic additives increased by 8.2%,...

Nghe An's import-export turnover in the first quarter of 2023. Graphics: Huu Quan

However, many items have decreased turnover compared to the same period in 2022: Textiles and garments decreased by 12.4%, Electronic components decreased by 29%, Steel sheets of all kinds decreased by 58.7%, Wood chips decreased by 8.9%, Cassava starch decreased by 28%, Textile fibers of all kinds decreased by 80%, Stone powder decreased by 21.7%,... Some traditional markets of Nghe An enterprises have decreased turnover such as China decreased by 17.5%; United States decreased by 8%, Taiwan decreased by 42.5%, Switzerland decreased by 60%,....

The decline was mainly due to the global economic crisis, rising inflation and tightening spending in some important export markets, which reduced purchasing power, cut many orders, and led to a sharp decline in production of many items. Import turnover is estimated at 312.04 million USD, equivalent to 99.64% of the same period in 2022.

Delegates follow the conference at Nghe An bridge. Photo: PV

Speaking at the conference, Minister of Industry and Trade Nguyen Hong Dien requested units of the Ministry of Industry and Trade and localities to seriously implement the Resolution of the 13th National Party Congress and related policies and guidelines on industrial and trade development. Closely monitor the situation, regularly inspect and evaluate to flexibly and promptly handle arising difficulties and problems, ensuring the completion and over-fulfillment of assigned planning targets. Urgently complete provincial and sectoral planning.

In the first quarter of 2023, textile and garment activities will face many difficulties due to lack of orders. In the photo: Production at Trong Phuc Garment Company Limited in Dien Chau. Photo: Viet Phuong

In addition, closely follow the production situation of industries and sectors. Organize work with some key industrial localities to promptly grasp and remove difficulties to promote production development. Continue to organize connections for domestic enterprises to participate in the supply chain of FDI enterprises and large global enterprises; support enterprises, especially small and medium enterprises, to recover and develop production.

The Minister of Industry and Trade also requested relevant agencies and localities to continue reviewing, amending, supplementing and perfecting mechanisms and policies for synchronous industrial and trade development from the central to local levels, ensuring feasibility in accordance with signed Free Trade Agreements (FTAs). Promote the implementation of tasks and solutions to restructure the industry and trade sector based on the foundation of science and technology, innovation and digital transformation.

Hoa Sen Steel - one of the industrial products with good growth in recent years. Photo: Viet Phuong

Focus on innovation and strengthening trade promotion activities. Promote the development of logistics services, thereby reducing costs and improving the competitiveness of Vietnam's export goods.

Continue to promote reform, simplify administrative procedures, facilitate investment, production and business activities; proactively coordinate work handling associated with promoting the application of information technology in all activities.