Prime Minister requests timely handling of 12 loss-making projects at the Ministry of Industry and Trade

The Prime Minister requested the Ministry of Industry and Trade to resolve the matter and assigned Deputy Prime Ministers Vuong Dinh Hue and Trinh Dinh Dung to assist in handling it.

Assessing the growth targets and indicators of the Industry and Trade sector at the online conference between the Government and localities to deploy the socio-economic plan and state budget tasks for 2017, which took place on the morning of December 29, the Minister of Industry and Trade pointed out many positive points.

Specifically, export turnover in 2016 increased by 8.6% and the trade surplus reached 2.68 billion USD. "This is a very positive result if considered in the general context of the world as well as the world price market, especially when the decrease in oil prices negatively impacted exports," Minister Tran Tuan Anh assessed and said that the total turnover of goods as well as the consumption value of the whole society increased by about 10.4%, which is also high compared to last year, while the value of industrial production increased by 7.4%... contributing to the overall growth of GDP.

Minister of Industry and Trade - Mr. Tran Tuan Anh.

Regarding ensuring electricity supply, according to the expected economic growth of about 7% of GDP, the Industry and Trade sector must ensure electricity growth of 11-11.5% per year. In 2016, electricity growth was about 11.28%, which is high compared to the total scheme 7 and expected growth in the coming years. However, ensuring energy balance will be very stressful.

“In 2017 and the coming years, the Ministry of Industry and Trade has followed the Prime Minister's direction to focus on ensuring sufficient electricity supply for economic growth and social needs. The Ministry of Industry and Trade proposed to the Prime Minister for a special mechanism to ensure key projects in the energy sector, projects providing raw material areas for electricity projects, thereby ensuring the country's growth,” Minister Tran Tuan Anh proposed.

To ensure electricity supply for the economy, Minister Tran Tuan Anh said that the major measure in 2017 and next year, the Ministry of Industry and Trade needs to focus on ensuring the timely implementation of key projects such as Vinh Tan 1, Duyen Hai 2, 3, as well as the Song Hau and Thai Binh thermal power projects. When these plants are put into operation, the required growth rate will be ensured at 11.5%.

The Industry and Trade sector will also focus strongly on power infrastructure projects, especially the power transmission infrastructure system, increasing the capacity to transmit electricity from the North to the Central region by about 5 billion kWh/year.

Minister Tran Tuan Anh also clearly stated the focus of work in 2017 of the Industry and Trade sector, in addition to ensuring the right requirements for energy as well as ensuring economic development, it is necessary to aim towards protecting the environment and ensuring people's lives.

From there, it is recommended that the Government continue to direct the Ministry of Construction, the Ministry of Science and Technology, and the Ministry of Industry and Trade to speed up the development of standards related to construction materials from the ash and slag systems of coal-fired thermal power plants to fundamentally resolve the ash and slag waste of factories that are at great risk of causing environmental pollution.

In the field of trade, the head of the Ministry of Industry and Trade said that 2016 witnessed high growth in the retail market with a growth rate contributing to GDP of 28.6%/year, creating jobs for about 7 million workers. Vietnam has implemented large projects and also fulfilled commitments such as opening up to foreign investors, at the same time adjusting and operating appropriately for domestic retail businesses.

“However, in general, policies to update market developments as well as integration are not timely and complete. The Government has directed the Ministry of Industry and Trade to develop a retail industry strategy in 2017 with a vision to 2025. But the problem is that within the framework of integration commitments, Vietnam still has tools to stabilize the market, especially in investment. Localities tend to attract investment and create favorable conditions for foreign countries, so favorable conditions to support businesses to exploit land conditions, premises, and other mechanisms are very difficult, leading to many fields where foreign ownership is more than 100%,” said Minister Tran Tuan Anh.

In addition, the rural market system has not received adequate attention in terms of policies and resource development, has not been included in credit areas, and has not enjoyed investment incentives. The Ministry of Industry and Trade proposes to include it in the list of investment calls, and to enjoy investment incentive mechanisms for development, especially the commercial system in remote areas where consumer needs are large and foreign distribution systems have not yet reached.

At the same time, clarify the responsibilities of ministries and branches to continue creating favorable conditions for domestic enterprises. Urgently build a system of technical barriers to protect domestic products and the domestic market in accordance with the commitments.

Positively assessing the performance of the Ministry of Industry and Trade in 2016, Prime Minister Nguyen Xuan Phuc said that the Ministry of Industry and Trade's apparatus has become more compact, works better, and saves hundreds of thousands of billions of VND. Other ministries need to follow the Ministry of Industry and Trade in reforming administrative procedures and reducing unofficial costs for businesses and people.

However, the Prime Minister also said that currently, the Ministry of Industry and Trade has not yet abolished procedures on chemicals and energy. Regarding the 12 loss-making projects at the Ministry of Industry and Trade, the Prime Minister requested the Ministry of Industry and Trade to promptly resolve them, and assigned Deputy Prime Minister Vuong Dinh Hue and Deputy Prime Minister Trinh Dinh Dung to support the Ministry of Industry and Trade in handling the current shortcomings.

“We need to find a way to develop the industry and trade sector - this is a sector with very important areas. I highly appreciate the reform, innovation and creativity, especially in the apparatus of the Ministry of Industry and Trade,” the Prime Minister stated.

According to VOV