Deputy Prime Minister and Minister of Foreign Affairs Bui Thanh Son, who attended a conference in Hanoi on December 24 to take stock of 2024 activities and define the directions for 2025, urged the industry sector and of trade to create a favorable, clear and transparent legal environment to facilitate the development of production and trade.
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| Deputy Prime Minister and Minister of Foreign Affairs, Bùi Thanh Son, during a conference to review the activities of the industry and commerce sector during the year 2024 and define the directions for 2025. |
| Photo : VNA/CVN |
The industry and commerce sector should also develop institutional policies to soon implement the Electricity Law (revised) and restart the Ninh Thuan nuclear power plant project; remove difficulties and obstacles to renewable energy projects…, he said.
He asked the sector to review, complete and submit to the Prime Minister for promulgation an industry development strategy to strengthen the self-sustaining capacity of Vietnam's manufacturing sector, develop industries of many high value-added technologies and low-carbon emissions and to establish sufficiently strong incentive mechanisms to develop priority areas of key industries such as metallurgy, mechanics, mechanical engineering, electronics industry, semiconductors, hydrogen energy industrial ecosystem, the maritime industrial ecosystem, the high-speed rail line…
In particular, regarding the rationalization of the organizational apparatus, he stressed that the new administrative apparatus of the Ministry of Industry and Trade should be better than the old one and immediately come into operation. The key is to ensure a smooth transition without disrupting the day-to-day activities of society or citizens.
According to a report presented at the conference, import-export in 2024 is a bright spot and one of the main drivers of economic growth, with the total turnover for the year reaching a new record of almost 800 billion USD, up 15% year-on-year and exceeding the assigned plan almost three times, including 403 billion USD for exports, an increase of 13.6% year-on-year. This is a fairly high growth rate compared to that of many countries in the ASEAN region and Asia.
The trade balance recorded a high trade surplus, for the ninth consecutive year, of nearly USD 25 billion, contributing to increasing foreign exchange reserves, stabilizing exchange rates and macroeconomic indicators.
The industry has recovered strongly, with a spectacular growth of 8.4%, of which the manufacturing and processing industry increased by nearly 10% compared to 2023, creating a great driving force to promote macro growth. economic.
VNA/CVN
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