The industry and trade sector targets 8-9 per cent growth in the Index of Industrial Production (IIP) and the retail of goods and services this year, according to the Ministry of Industry and Trade.
Total export revenue is expected to increase 6 per cent year-on-year.
To reach the targets, Minister of Industry and Trade Nguyen Hong Dien said the ministry will take measures to help localities and businesses escape from the ongoing stagnation.
Speaking at an online conference on solutions to promote production, business, and trade development in 2023, held on April 18, Minister Dien said many localities are considered economic locomotives but growth was very low in the first quarter of 2023, with some localities growing by less than 1 per cent.
The IIP fell 2.2 per cent year-on-year in the first quarter, while export turnover was down 11.9 per cent.
The ministry is making every effort to improve the business and production environment and promote domestic trade and supply chains of domestic goods to connect production with the market while giving priority to developing the supply chain of agricultural products and food, according to Minister Dien.
Representatives from departments of industry and trade in localities at the meeting proposed offering financial support packages on technical infrastructure for industrial parks and clusters in localities with low budget collections, in order to complete infrastructure and boost industrial production.
It is also necessary to help businesses apply e-commerce in management and administration, seek partners, expand markets, and join major e-commerce floors to promote their image and products, they said.
They also suggested adopting regulations and policies to support businesses in this difficult time, such as tax reductions.
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