Industry and Trade: Sector Implementing Various Business Support Solutions

9:35:32 AM | 19/9/2023

By launching various solutions in concert, focusing on clearing obstacles and supporting businesses and cooperatives to quickly stabilize and restore production and business, the industry and trade sector of Ha Giang province has achieved remarkable results and significantly contributed to the province’s growth.

Trade in the limelight

According to the Ha Giang Department of Industry and Trade, the business community in the province has faced numerous difficulties and pressures since the start of this year when world economic and political developments remained complicated. Especially due to high prices of fuel and input materials, the consumer demand for some local strong industrial products shrank, and prolonged droughts and water shortages hindered hydropower plants from running continuously. These factors have negatively impacted industrial companies and cooperatives.

Therefore, in the first six months of 2023, the index of industrial production (IIP) sank 28.16% year on year. However, amid that gloomy picture, the sector still positively contributed to the province's growth.

In particular, import and export activities advanced because Thanh Thuy (Vietnam) - Tianbao (China) International Border Gate officially restored import, export and immigration, and Xin Man - Dulong Bilateral Border Gate gradually restored normal operation, facilitating merchandise import and export through these border gates. The total value of imports and exports was estimated at US$159.5 million, fulfilling 69.3% of the plan.

The province’s trade developed strongly to facilitate smooth circulation and distribution of goods and meet the demand of companies and people. The local market was well controlled, with a wide range of goods with stable prices. No profiteered speculation and hoarding was detected. Tourism was vibrant, stimulated by commercial, accommodation and catering services, helping increase the value of consumer goods and services which rose 15.87% year on year to VND7,864.5 billion, equal to 49.8% of the plan.

Boosting business connection and support

To further support enterprises to restore business operations and maintain growth momentum, in the coming time, the industry and trade sector of Ha Giang province will actively advise the Provincial People's Committee and the Ministry of Industry and Trade to propose that the Government adjust, amend, supplement or replace inappropriate or overlapped legal documents in place to facilitate business operations of enterprises. The sector will work out survey plans to them to propose solutions to tackle their business difficulties.

In addition, the sector will accelerate administrative reform to help enterprises and cooperatives reduce their time and cost to carry out administrative procedures within its jurisdiction; boost e-commerce applications to help them to introduce their products, enhance images and conduct business transactions on the internet.

At the same time, the sector will regularly exchange information with Chinese counterpart agencies to effectively enforce bilateral trade agreements between Vietnam and China; and promptly grasp difficulties and problems to advise solutions for smoother import and export across Thanh Thuy - Tianbao International Border Gate and Xi Man - Dulong Border Gate.

In addition, the sector will intensify information and communications on free trade agreements (FTAs) to which Vietnam is a signatory party to support businesses and cooperatives to overcome challenges and capture opportunities brought by those FTAs and facilitate them to expand markets, connect and participate more deeply global value chains and production networks.

By Nguyen Bach, Vietnam Business Forum