Vietnam gains optimistic results in constraining import surplus

 Imports of machinery and equipment for production now make up 83 percent of the country’s total import value, said the Ministry of Industry and Trade (MoIT) at a conference in Hanoi on September 28. 

One year after implementing measures, such as using domestic input materials and controlling imports, import surplus have reduced, contributing to pushing the development of the nation’s production.

According to reports of groups, corporations and companies, last year trade value of machinery, equipment and domestic materials reached VND30.590 billion and the rate of using domestic input materials reached nearly 54 percent. This year’s figures are expected to hit VND38 billion and 52 percent respectively.

The government’s instruction on using domestic input materials is expected to contain import surplus and provide more opportunities for Vietnamese businesses to control the market.

(VOV)