Maintaining Positive Growth Momentum

9:18:56 AM | 27/7/2021

The complicated development of the COVID-19 epidemic has had considerable impact on business operations of enterprises and livelihoods of people. However, resolved to realize the dual goal of "fighting against the epidemic and focusing on economic development", the industry and trade sector of Ha Giang province has adopted many solutions to maintain positive growth momentum.

According to the report of the Ha Giang Department of Industry and Trade, industrial production stayed stable in the first five months of 2021. The industrial production index expanded by 7.47% over the same period. The industrial production value rose 13.89% year on year to VND2,239.4 billion. Total export value in five months was estimated at US$104.2 million, 19.2% more than a year ago.

Besides, the basic commodity market was stable, with the supply fully meeting people’s needs. Total retail revenue of consumer goods and services in the first five months was forecast at VND5,037.1 billion, up 22.49% year on year. Prices of all goods are well controlled. The consumer price index slipped 0.19% from the same period.

However, Ha Giang Department of Industry and Trade pointed out that some existing shortcomings are hindering industrial production and trade. Specifically, due to the impact of the epidemic, industrial companies faced difficulties as a result of insufficient resources for business reinvestment, increased input and fuel prices, shortages of new export orders, and high inventories. Import and export activities through Thanh Thuy International Border Gate have been affected because both Vietnam and China are applying strict control measures for people and vehicles carrying goods. Secondary border gates and openings on the Vietnam-China border are temporarily closed. In addition, China often changes their management policies on imports, exports and vehicle drivers.

From now until the end of the year, in order to achieve the target growth with the province, the Ha Giang industry and trade sector will further strengthen sectoral restructuring and development; expand industrial zones as planned; and support enterprises to deal with existing difficulties to restore production. The sector will closely follow the province’s industrial production, implement solutions to create motivation for breakthrough growth in mining, processing and manufacturing; electricity generation; and rural handicraft development. It will gradually adjust the industrial growth pattern from quantity to productivity, quality and performance.

The sector will develop and improve the quality of commercial services; support the formation of production, processing and consumption chains; expand production; and develop markets. It will bring Vietnamese goods to rural, mountainous and border areas; focus on transforming business models, boosting and managing local markets; closely monitor market prices in the province, especially supply and demand movements and prices of essential commodities to have responsive measures in case of need.

At the same time, the industry and trade sector will strengthen inspection and guidance on implementation of effective measures to prevent and control the COVID-19 epidemic in order to maintain and promote production and business development in the new normal environment and avoid production disruptions. It will coordinate with relevant agencies to grasp difficulties and obstacles in customs clearance at border gates. Besides, it will learn about China's trade measures to inform and recommend businesses, organizations and individuals to take active export and import measures; diversify export and import markets; make good use of opportunities from FTAs to develop markets and remove barriers to penetrate new markets.

Source: Vietnam Business Forum