Working with the Ministry of Trade and Industry at the past conference, Deputy PM Nguyen Sinh Hung said that the trade and industry sector should improve shortcomings of competitive capacity on the “home ground” and “guest ground”.

Looking from garment and textile industry

According to a report of Le Danh Vinh, deputy minister of Trade and Industry, the trade and industry sector in 2010 took back a 14% growth of years before economic crisis. Processing industrial sector won the biggest density with nearly 90% whilst natural resources exploitation decreased sharply. Besides, trade reached a high growth with the export turnover of US$71.6bil, a 25.5% rise from 2009. Vietnam has so far had 18 products reaching export turnover of over $1bil, garment sector of which is listed in the top position with over $11bil.

 

At an apparel company in My Phuoc IP.

In the past year, the garment sector grabbed $11.2bil in export turnover, a 23% increase from 2009. With the export turnover, the sector exceeds crude oil industry and leads in the local industrial production sector. The result is thanks to a significant increase of orders.

At present, many garment businesses have signed orders lasting till the second quarter of 2011 and even till late 2011. According to a forecast, Asia will lead in offering garment and textile products for the world in next 10 years. And, Vietnamese apparel sector will have a chance to list in the world’s top 5 garment exporters. To reach this objective, hi-quality human resources training is considered as an urgent solution.

Challenges

In 2011, Vietnamese garment and textile industry strives to reach $13bil in export turnover. To increase strength for “home ground” and “guest ground” in this year, therefore, it requires many factors including change of macroscopic policy.

Deputy PM Nguyen Sinh Hung explained that some fields of energy security and food security remain challenges, owing to shortage of electricity, fertilizer, pesticide… Especially, the speed of industrialization and modernization has yet to meet energy consumption speed.

The deputy PM pointed out that in 2011 the country must reach a 14.8% growth, an 8% increase in industrial growth, a 10% rise in goods export and so on. The Ministry of Trade and Industry should map out action plans to reach the proposed goals, added he.

Accordingly, the ministry should change industrial structure in attachment to environmental protection and soon issue concrete solutions to occupy domestic market as well as expand export market.

A series of other challenges for the trade and industry sector include low labor capacity, poor quality of human resources, and dependence on foreign loans…

Therefore, the immediate task of the sector is to improve the quality of growth, ensure macro-economic stability, develop auxiliary industry and adjust market strategy.

Reported by H.Phuc – Translated by A.C