What are viewpoints of the strategy for merchandise exports and imports by 2030 in Vietnam?

What are viewpoints of the strategy for merchandise exports and imports by 2030 in Vietnam?

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

1. Embark on the sustainable import and export development on the basis of coordination in commodity structure, market structure and trade balance with each market and market area; coordination between short-term and long-term goals; coordination between opportunities to participate in and enjoy the fruits of import and export growth; coordination with green trade, fair trade, environmental, biodiversity conservation and adaptation to climate change.

2. Develop import and export of goods in association with investment in development of economic – technical infrastructure, science - technology, digital transformation, development of digital economy, development of the green, sustainable and circular production system, and improvement of the quality of human resources. Increase the innovative and creative content in exported products; build and develop trademarks of Vietnamese goods for export.

3. Develop import and export in line with sectoral and local development planning schemes and plans in order to promote competitive advantages, effectively exploit opportunities, limit the impact of challenges arising from the implementation of economic integration commitments, and participate more deeply in the global supply and value chain.

What are general objectives of the strategy for merchandise exports and imports by 2030 in Vietnam?

Pursuant to Clause 1 Section II Article 1 of the Decision 493/QĐ-TTg in 2022 stipulating general objectives of the strategy for merchandise exports and imports by 2030 in Vietnam as follows:

1. General objectives

Ensure sustainable development in a balanced and harmonious structure; bring more competitive advantages; develop the brand name of Vietnamese goods; improve the country's position in the global value chain; become the driving force of fast and sustainable economic growth.

What are specific objectives of the strategy for merchandise exports and imports by 2030 in Vietnam?

Pursuant to Clause 2 Section II Article 1 of the Decision 493/QĐ-TTg in 2022 stipulating specific objectives of the strategy for merchandise exports and imports by 2030 in Vietnam as follows:

2. Specific targets

a) Stable growth, healthy and reasonable trade balance.

- The average growth rate of commodity exports is expected to reach 6-7%/year in the period of 2021 - 2030, including the average export growth rate in the period of 2021 – 2025 which is expected to be 8-9%/year; the average export growth rate in the period of 2026 – 2030 which is expected to be 5-6%/year.

- The average growth rate of commodity imports is expected to reach 5-6%/year in the 2021 – 2030 period, including the average export growth rate in the period of 2021 – 2025 which is expected to be 7-8%/year; the average export growth rate in the period of 2026 – 2030 which is expected to be 4-5%/year.

- Maintain the trade balance in the period of 2021 - 2025; strive to maintain a sustainable trade surplus in the period of 2026 - 2030; look forward to a healthy and reasonable trade balance involving key trade partners.

b) Sustainable development with a balanced and harmonious product and market structure

- Increase the proportion of goods in the export processing and manufacturing industry to 88% of total export turnover by 2025 and 90% by 2030; including, the export proportion of medium and high-tech goods which is expected to reach about 65% by 2025 and 70% by 2030.

- Increase the proportion of exports into the EU market to 16 - 17% of total export turnover by 2025 and 18 - 19% by 2030; into the American market to 32 - 33% of total export turnover by 2025 and 33 - 34% by 2030; into the Asian market to about 49 - 50% by 2025 and 46 - 47% by 2030.

- Increase the proportion of imports from the EU market to 8 - 9% of total export turnover by 2025 and 10 - 11% by 2030; from the American market to 8 - 9% of total export turnover by 2025 and 10 - 11% by 2030; decrease the proportion of imports from the Asian market to about 78% of total export turnover by 2025 and 75% by 2030.

Best regards!