Ministry of Industry and Trade announces plan for 2020

SGGP
The Ministry of Industry and Trade on December 26 announced a summary report of its work in 2019 and its plan in 2020.
Accordingly, the general goal set for the industry and trade sector in 2020 is to focus on implementation to ensure the fulfillment of the Government’s general target in instructing the management of the country’s socio-economic development.

Specific goals for next year include an increase of 9-10 percent in the index of industrial production compared to 2019, an increase of 7-8 percent in total export turnover compared to 2019, trade deficit ratio compared to total export turnover of below 2 percent, an increase of 11.8-12 percent in total retail sales and service revenue; an estimated increase of 9.1 percent in power demand compared to 2019, power generation and purchasing of 265.4 billion kilowatt-hours, a growth of 25 percent in business-to-consumer e-commerce market, a rate of 50 percent of enterprises applying e-commerce and a rate of 70 percent in third and fourth grade online public services.

The ministry has actively reviewed and carefully evaluated the situation and built a specific growth scenario for each quarter and for the whole year and solutions to organize the implementation. On the same day, the ministry also announced ten highlight events in the industry and trade sector in 2019, consisting of reaching an import-export turnover of US$500 billion for the first time and mobilizing nearly 5,000 megawatts solar power to the system.

By Phuc Hau – Translated by Thanh Nha

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