Focusing on six major measures

Growth through difficulties

Despite numerous difficulties, industrial production has been stable and keeps expanding. In 2022, the industrial production index of 13 out of 20 provinces and cities in the region grew at higher rates compared with the country’s average of 7.8 percent.

Deputy Minister of Industry and Trade Phan Thi Thang addresses the ninth conference of the industry and trade sector of southern provinces and cities, October 6, Hau Giang Province

The industrial sector has been restructured to increase the percentage of the processing and manufacturing industries, while reducing the percentage of labor-intensive industries and those causing environmental pollution. Notably, the processing and manufacturing industries keep growing, creating impetus for other sectors to develop.

Most businesses in the region have maintained stable and effective operations. Many new companies have been established and come into operation, creating a variety of new products. Businesses have invested in upgrading production equipment and expanding manufacturing facilities.

In 2022 and the first eight months of 2023, trade and services in the region continued to grow. In 2022, the total retail sales of consumer goods and services of 15 out of 20 provinces and cities in the region grew by 20 percent. The trading infrastructure has been built in accordance with the region’s socioeconomic development plan. Investment in rural trade has yielded positive results.

Market stabilization programs have been implemented along with the Buy Vietnamese Goods campaign. The network of points of sale, especially the sale of essential goods, has been expanded to rural areas, residential areas and industrial parks, enabling consumers to buy goods at reasonable prices.

The export value of many products has increased. Despite difficulties, most businesses in the region have taken the initiative in seeking new customers to expand the export market.

Conference participants

Major measures

Addressing the ninth conference of the industry and trade sector of southern provinces and cities, which took place recently in Hau Giang Province, Deputy Minister of Industry and Trade Phan Thi Thang said that the southern region expects its industrial production index to grow by more than nine percent in 2023; the total retail sales of consumer goods and services to reach VND3,232 trillion, an increase of 10.85 percent compared with 2022; the total import-export value to reach US$235.15 billion (export value: US$130.05 billion; import value: US$105.10 billion).

To achieve the set targets, Deputy Minister Thang asked southern localities to implement the following six major measures:

1. Southern localities should promote effective implementation of the tasks assigned to them via the Government’s Resolution 01.

2. Removing production and trade difficulties to maintain macroeconomic stability, control inflation, promote economic growth and ensure major balances of the economy in the new situation. Attention should be focused on promoting three driving forces of economic growth: investment, export and consumption; accelerating industrial development, especially processing and manufacturing industries, to prevent supply chain disruptions.

3. Coordinating with the Ministry of Industry and Trade to resolve problems facing major industrial projects; tightening regional linkages and tapping comparative advantages of the region to create export products of high added value.

4. Boosting domestic market development; keeping a close watch on supply and demand changes, forecasting the market situation of essential goods, especially petrol and oil; ensuring sufficient supply of consumer goods, especially prior to and after the Lunar New Year holiday; boosting trade promotion and the application of e-commerce to trade; combating counterfeiting and smuggling to protect Vietnamese goods in the domestic market.

5. Promoting exports, especially through official trade channels, along with restructuring export products and building Vietnamese brands. The industry and trade sector of southern localities should help businesses make the most of preferences under free trade agreements, especially new-generation ones such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the EU-Vietnam Free Trade Agreement (EVFTA), and the UK-Vietnam Free Trade Agreement (UKVFTA) to boost exports.

6. Tightening discipline to enhance the effectiveness of management, enhancing the responsibility of heads of units in the implementation of tasks; simplifying administrative procedures to facilitate investment, production and trade.

Ha Linh & Ngoc Thuy