The Commodity Import-Export Strategy to 2030 approved

Published on 17 - 05 - 2022
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On19/4/2022, the Prime Minister issued the Decision No. 493/QD-TTg approving the Commodity Import-Export Strategy to 2030.

According to the decision, the overall goal of the Strategy is to sustainably develop import and export with a balanced and harmonious structure, promote competitive and comparative advantages, develop Vietnamese goods brands, improve national position in the global value chain, as the driving force of rapid and sustainable economic growth.

The strategy also offers four perspectives, specifically as follows:

- To develop sustainable import and export on the basis of harmonization of commodity and market structure and trade balance with each market and market area; harmonize short-term and long-term goals; harmonize opportunities to participate in and enjoy the achievements of import and export growth; associate with green and fair trade, environmental protection, biodiversity and adaptation to climate change.

- To develop commodity import and export in association with investment in the development of economic - technical, scientific - technological infrastructure, digital transformation, development of digital economy, development of green, clean and sustainable production, circulate and improve the quality of human resources. To increase the innovation content in exported products; build and develop the brand name of Vietnamese exported goods.

- To develop import and export in association with sectoral and local development master plans and plans in order to enhance competitive advantages, effectively exploit opportunities and limit the impact of challenges in the implementation of commitments on international economic integation, deeply involve in the global supply chain and value chain.

The specific goals are as follows:

- Exports and imports grow steadily, trade balance is healthy and reasonable.

+ The average growth rate of goods exports is 6-7%/year in the period of 2021 - 2030, in which the average export growth rate of the period 2021 - 2025 is 8-9%/year; the period 2026 - 2030 at 5-6%/year.

+ The average growth rate of goods imports is 5 - 6%/year in the period of 2021 - 2030, of which in the period 2021 - 2025, the average import growth rate is 7 - 8%/year; the period 2026 - 2030 at 4-5%/year.

+ To carry out the trade balance in the period of 2021 - 2025, towards maintaining a sustainable trade surplus in the period of 2026 - 2030; towards a healthy and reasonable trade balance with key trading partners.

- To associate the sustainable development of import and export with a balanced and harmonious product and market structure

+ To increase the proportion of export processing and manufacturing industrial goods to 88% of total export turnover by 2025 and 90% by 2030; in which, the export proportion of medium and high-tech goods will reach about 65% by 2025 and 70% by 2030.

+ To increase the proportion of export market in the European region to 16-17% of total export turnover by 2025 and 18 - 19% by 2030; the Americas to 32 - 33% of total export turnover by 2025 and 33 - 34% by 2030; the Asia to about 49 - 50% by 2025 and 46 - 47% by 2030.

+ To raise the proportion of import market in the European region to 8-9% of total import turnover by 2025 and 10 - 11% by 2030; the Americas to 8 - 9% of total import turnover by 2025 and 10 - 11% by 2030; reduce the share of import market from Asia to about 78% of total import turnover by 2025 and 75% by 2030.

In addition, the Decision also specifies the import and export orientation of goods, solutions and organization of the implementation of the Strategy.

The Decision takes effect from the date of signing.

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