Vietnam to Reduce Crude Oil & Coal Exports
Vietnamese Minister of Planning and Investment Vo Hong Phuc has submitted to the government a plan to cut down the exports of crude oil and coal, for the purpose of national energy and material security, State media said.
Under the plan, Vietnam will export 18.5 million tons of crude oil next year and 15.6 million tons in 2010, compared to 18.8 million tons this year.
Next year the country will also ship abroad only 14 million tons of coal, equal to this year’s planned figure. The export volume is proposed to fall by one million tons per year from 2007 and reach eight million tons in 2010.
In order to reduce national trade deficit in the 2006-2010 period, Minister Phuc said Vietnam should increase the exports of potential products such as garments and textiles, shoes, and aquatic, electronic and wooden products.
The ministry hopes to earn US$10 billion from exporting garments and textiles, US$6.5 billion from shoes, US$4.5 billion from aquatic products, US$3.2 billion from electronic goods and US$3 billion from wooden products, in 2010.
Liberated Saigon
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