Many countries in the world have strongly changed to optimize production and improve their commodities’ competitiveness. Domestic production protectionism has been showed through increasing technical barriers.
Meanwhile, Vietnam’s cargo export structure has yet to change, businesses have mainly done outwork and exported raw products.
According to statistics by the Ministry of Industry and Trade, export turnover was estimated to reach US$115.2 billion in the first seven months this year, a year on year increase of 18.7 percent. The turnover might reach $200 billion this year, up 13 percent over last year.
Import turnover for the entire year is estimated to hit $205 billion, raising 17 percent over the same period last year. With great efforts by the Government and ministries, the country’s export industry is expected to maintain growth momentum this year and next year.
However, export in particular and the economy in general has showed many congestions which should be cleared to develop.
Mr. Nguyen Phu Hoa, deputy head of the Export Import Department under the ministry, estimated that the global economy is witnessing unpredictable changes. Vietnam’s export and growth quality need be reconsidered. The country has sold any raw material it has and speeded up quantity. The first export wave has reached its peak according to this model.
Sharing the same view, other experts said that Vietnam needs a revolution to create the second wave to change products’ competitive ability, improve brand name value and national images. Vietnamese businesses’ supply ability is still very small in global value chains.
Businesses should carefully learn about international rules and focus on production and trading standards to persuade partners.
The Government should concentrate on well reforming business environment for enterprises to set their minds at rest and invest in Vietnam. Documents and decrees should be rebuilt toward trusting, supporting businesses and giving them specific instructions. Vice versa, the law and sanctions must be deterrent enough, clear and strict. That will boost economic development and exports in new phases.