According to strategy for merchandise exports and imports by 2030 in Vietnam, what are regulations on orientations towards merchandise exports?

According to strategy for merchandise exports and imports by 2030 in Vietnam, what are regulations on orientations towards merchandise exports?

Pursuant to Point 1 Section III Article 1 of the Decision 493/QĐ-TTg in 2022 stipulating orientations towards merchandise exports regarding the strategy for merchandise exports and imports by 2030 in Vietnam as follows:

1. Orientations towards merchandise exports

a) General orientation

- Develop the export subsector in a sustainable manner, bring into full play its competitive advantages, shift to a rational in-depth growth model, effectively use resources, protect the ecological environment and successfully address social issues and problems.

- Promote the shift to the in-depth structure of exported goods, accelerate industrialization and modernization; increase the proportion of products with high added value, science – technology and innovation content; products of the green and circular economy; eco-friendly products for export.

b) Orientation towards development of merchandise exports by industries

- Merchandise exports in the agriculture, forestry and aquaculture industry: Increase the proportion of products created by deep processing systems and of high economic value; improve the ability to meet quality, food hygiene and safety regulations, standards and corporate social and environmental responsibility criteria; proactively adapt to and overcome trade barriers and trade remedies in overseas markets.

- Merchandise exports in the processing and manufacturing industry: Increase the domestic content of exported goods, reduce dependence on imported raw materials, spare parts and components; increase the proportion of products in the medium- and high-tech industry; rapidly increase the proportion of exported products with high technology and innovation content.

- Discourage the development of production and export of resource-intensive and environment-polluting products; make more investment in developing export of green and eco-friendly products.

- Detailed roadmap and steps:

+ 2021 – 2025 period: Increase the rate of processing of key agricultural and aquatic products having production and export advantages, concurrently building and developing typical brands of Vietnamese agricultural products; increase added value of labor-intensive and highly competitive products, such as textiles, footwear, electronics, and products in the medium-tech manufacturing industry.

+ 2026 – 2030 period: Develop new products with high added value; deeply-processed agricultural and aquatic products; products created in the medium- and high-tech manufacturing industry, and by applying achievements of the fourth industrial revolution; products of the supporting industries.

According to strategy for merchandise exports and imports by 2030 in Vietnam, what are regulations on orientations towards merchandise imports?

Pursuant to Point 2 Section III Article 1 of the Decision 493/QĐ-TTg in 2022 stipulating orientations towards merchandise imports regarding the strategy for merchandise exports and imports by 2030 in Vietnam as follows:

2. Orientations towards merchandise imports

- Actively adjust the growth rate of merchandise imports; control the import of domestically produced goods, luxury goods, non-essential goods, and control the quality of imported goods.

- Increase the proportion of imported modern machinery, equipment and advanced production lines from countries with developed industries, especially high technology, source technologies; access achievements of the fourth industrial revolution as a precondition for improvement of the productivity, quality and competitiveness of exported products, and the shift to the in-depth structure of exports.

According to strategy for merchandise exports and imports by 2030 in Vietnam, what are regulations on developmental orientations towards export and import markets?

Pursuant to Point 3 Section III Article 1 of the Decision 493/QĐ-TTg in 2022 stipulating developmental orientations towards export and import markets regarding the strategy for merchandise exports and imports by 2030 in Vietnam as follows:

3. Developmental orientations towards export and import markets

- Diversify markets, avoid excessive dependence on a single market; strive for a healthy and reasonable bilateral trade balance ensuring sustainable growth in the long term.

- Effectively exploit market opening opportunities from economic integration commitments in free trade agreements to boost exports into major markets, such as EU, Japan, China, and South Korea, ASEAN...

- Robustly exploit potential markets, such as the United States, Russia, Eastern Europe, Northern Europe, India, Africa, the Middle East and Latin America..., and aim to build stable and long-lasting trade frameworks.

- Continue to restructure the import market with a view to reducing the proportion of imports from low-tech and intermediate-technology markets, and increasing the proportion of imports from source technology markets.

Best regards!