Outstanding results
Statistics of the Ministry of Industry and Trade show that export growth in the period 2015-2019 averaged 12% / year, higher than the target of 10% set by the 12th National Congress.
In 2020, in the context that the world economy is heavily influenced by Covid-19, the exports of the countries in the region all decrease compared to the previous year, our country's exports still achieve a positive growth rate. Exports in the first nine months of the year reached 202.4 billion USD, up 4% over the same period in 2019.
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| The commodity import-export strategy for the 2011-2020 period with a vision to 2030 has exceeded the target |
In parallel with the positive export results, import is also controlled, the average growth rate of import turnover is lower than the average growth rate of export turnover. Import turnover has an average growth rate in the 2015-2019 period at 11.2% / year. Thus, the average annual growth rate of import turnover in this period was lower than the average growth rate of export turnover (13%), reaching the target set out by the Strategy.
In particular, the trade balance was in surplus throughout the period with the next year's trade surplus increasing higher than the previous year. Specifically, the Strategy has identified the target of gradually reducing the trade deficit, controlling the trade deficit of about 10% of export turnover by 2015 and progressing to balance the trade balance by 2020. In fact, from year From 2016 to now, the trade balance has always reached a surplus with the trade surplus increasing gradually over the years, respectively 1.77 billion USD (2016), 2.11 billion USD (2017), 6.83 billion USD. (2018), 10.87 billion USD (2019). In the first 9 months of 2020 alone, the trade surplus reached 16.5 billion USD.
The structure of exported goods has shifted in a positive direction. The group of processed industrial goods in the first 9 months of 2020 accounts for 84.8% of the total export turnover, up from 78.9% in 2015; fuel and minerals only accounted for about 1.1% of the country's total export turnover. The number of items with an export turnover of $ 1 billion or more has increased over the years. In 2019, there are 31 items with an export turnover of over 1 billion USD.
In particular, the statistics of the Ministry of Industry and Trade also indicate that the per capita export value target has been achieved. The export value per capita in 2019 is about 2,740 USD / person, equal to 2.5 times compared to 2011. The target of export value per capita of over 2000 USD according to the strategy has been achieved from year 2017.
Improve institutions, strengthen administrative reform, facilitate export
As the Ministry of State management on import and export, over the past time, the Ministry of Industry and Trade has actively implemented solutions, making an important contribution to import and export results.
Specifically, the Ministry of Industry and Trade has developed and issued a full legal framework in the field of import and export, while transparency, simplifying administrative procedures, promoting online public services, and facilitating Commerce.
For example, the Foreign Trade Management Law passed by the National Assembly in 2017 and officially comes into effect from January 1, 2018, is the first legal document regulating import and export activities. The Ministry has conducted an overall review of the system of legal documents and administrative procedures in the import and export sector to amend it in accordance with the Law on Foreign Trade Management, at the same time, simplifying procedures. in this sector, to maximize the advantages of import and export activities in Vietnam. In the 2015-2020 term, the Minister of Industry and Trade signed for promulgation according to his competence 82 Circulars and submitted to the Government for promulgation 4 Decrees in the field of import and export.
The Ministry of Industry and Trade has also proactively and drastically issued many policies aimed at reforming administration, promoting the application of information technology in the provision of online public services at level 3 and level 4, especially for with administrative procedures in the field of import and export. By the end of 2019, the ministry has deployed 56 online public services in the import and export sector at levels 3 and 4.
Specifically, Vietnam has connected the electronic C / O form D with all ASEAN countries. The whole process and procedures of applying for C / O form D are completely electronic through the Internet, do not receive paper documents, do not issue paper C / O.
The Ministry of Industry and Trade is also interested in improving logistics service capacity, cutting logistics costs, and submitting to the Prime Minister to issue many Action Plans and Directives. The Minister of Industry and Trade signed Decision No. 708 / QD-BCT dated March 26, 2019 approving the Plan to improve the Logistics Performance Index of Vietnam.
Notably, to expand the market for exported goods, Vietnam has participated in negotiating and signing 16 Free Trade Agreements (FTAs), of which 13 FTAs have been signed and come into effect. The FTAs open the door for Vietnamese goods to penetrate important partner markets, providing an opportunity to connect and participate more deeply in the global value chain and production network.
For example, new markets in the CPTPP partner countries achieved high export growth, demonstrating the initial use of CPTPP commitments effectively. Exports to Canada in 2019 reached 3.9 billion USD, up 29% compared to 2018, to Mexico reached 2.83 billion USD, up 26.2%. By the end of the first 9 months of 2020, in the context of the Covid-19 epidemic, exports to Canada still increased by 10.2% over the same period (reaching US $ 3.1 billion) and to Mexico by 7.9% (reaching 2, 34 billion USD).
For the EVFTA Agreement, the implementation to take advantage of the Agreement as soon as it enters into force also has positive results. Within two months from August 1 to September 30, 2020, authorized organizations have issued about 20,680 sets of C / O samples EUR.1 with a turnover of USD 830 million to 28 EU countries. The items that have been granted C / O form EUR.1 are mainly footwear, seafood, plastic and plastic products, coffee, textiles, bags, suitcases, vegetables, rattan products, bamboo. , knitting, ... These are all export products that we have advantages, showing positive results from the early days of the Agreement's implementation.
Domestic enterprises bright spot
Along with the high increase in turnover, the economy has a trade surplus, in recent years, the imprint of domestic enterprises in export has been increasingly clear.
Since 2019, the export of domestic enterprises has increased sharply, while the FDI sector has grown slowly or decreased, so the proportion of export value of the FDI sector has gradually decreased. In the first 9 months of 2020, the export turnover of foreign-invested enterprises reached 131.1 billion USD, down 2.8% over the same period in 2019, also accounting for 65% of the total export turnover of the whole country. country.
Export turnover of the 100% domestic sector in 2019 reached 82.96 billion USD, up 19% compared to 2018, much higher than the 4.2% increase of the FDI sector. In the first 9 months of 2020, exports of this sector increased by 19.5%, while that of the FDI sector decreased by 2.8%.
Exports of domestic enterprises grew positively in the context of difficulties in agricultural and fishery exports, showing that the growth motivation of the domestic sector does not mainly depend on export growth of agricultural and aquatic products. products as in previous years, but from industrial products.
In order to strengthen the connection between FDI enterprises and domestic enterprises, bringing domestic enterprises more and deeper participation in the value chain for FDI enterprises, the Ministry of Industry and Trade determined to focus on a number of directions. solution: completing institutions, creating conditions for FDI enterprises to own high-tech and high-value chains and products to invest in Vietnam; pay attention to promoting the spillover effects of FDI enterprises on domestic production.
The ministry has also exchanged and encouraged large FDI enterprises to enter into joint ventures, linkages, develop supporting industries, and increase the localization rate through domestic suppliers; transfer technology, modern management skills to domestic enterprises through joint venture projects in a number of important sectors and fields. In addition, directing the system of affiliated universities and colleges to renovate the training of high-quality human resources in accordance with international standards.