HIGHLIGHTS
- The export-import of several commodities that are important for domestic production and consumption such as petroleum, coal, iron and steel, fertilizer, etc. has appeared signs need to be corrected.
- The Minister of Industry and Trade requested functional units under the Ministry, corporations, corporations, industry associations, and export business enterprises, import and export of items of strategic significance to the economy focus on implementing key tasks.
FULL ARTICLE
Trade balance of some important commodities was affected
Despite the impact of the Covid-19 epidemic, Vietnam’s import and export activities recently still achieved encouraging results. However, the export-import of several commodities that are important for domestic production and consumption such as petroleum, coal, iron and steel, fertilizer, etc. has appeared signs need to be corrected.
Typically, several goods that are capable of meeting domestic demand, such as gasoline, coal, and rice, are imported in large quantities. Besides, some domestic products have great demand but are exported a lot, affecting the balance of supply and demand and the domestic price level, including iron and steel, fertilizer.
Tasks set out to remedy the current situation
To stabilize prices and support production and consumption, the Minister of Industry and Trade requested functional units under the Ministry, corporations, controlling companies, industry associations, and import and export of strategic items business enterprises focus on implementing key tasks.
Accordingly, the Minister requested the Vietnam Steel Association, the Vietnam Steel Corporation, and enterprises producing and exporting iron and steel, iron ore to review and consider issues related to input materials, saving reduce production costs to lower product costs, take measures to increase steel production capacity to meet the maximum domestic demand, and limit the export of domestic products and products that are in high demand.
For the coal and fertilizer industry, relevant associations and enterprises must prioritize the source of goods serving the domestic market, meeting the needs of domestic consumption and production.
In addition, the Vietnam Petroleum Association, the Vietnam Sugar Association, the Vietnam National Petroleum Group, corporations, controlling companies, key traders in the export and import of petroleum, and sugar import businesses must share with the domestic production enterprises, prioritizing the use of domestic goods instead of imported goods.
For functional departments, Minister Nguyen Hong Dien requested a review of the situation of export and import and management mechanisms. On that basis, they propose measures to strengthen the export and import management for goods that need support for domestic production and consumption and urgently report to the Minister of Industry and Trade before August 30, 2021.
Minister Nguyen Hong Dien also requested heads of agencies and units under the Ministry, Directors of Departments of Industry and Trade of provinces and centrally-run cities, Presidents, General Directors, Directors of Corporations, Controlling companies, and Enterprises under the Ministry, export and import industry associations are responsible for implementing this Directive.
During the implementation of the Directive, if any problems arise, relevant agencies and organizations are requested to report and report in writing to the Import-Export Department for synthesis and handling.
Phan Quyen
