89 percent of imports raw materials for domestic production: Ministry

89 percent of imports raw materials for domestic production: Ministry

Up to 89 percent of the imports in the first four months of this year are raw materials and accessories for domestic production with a combined value of US$106.6 billion, up 16.8 percent year-on-year, according to the Ministry of Industry and Trade.
Enterprises encounter raw material shortage

Enterprises encounter raw material shortage

Since the beginning of the year, although export turnover has increased by 14.2 percent, import turnover has surged by more than 16.7 percent. The trade balance saw a trade deficit of nearly US$600 million, of which, imported goods were mainly raw materials for production. This shows that domestic enterprises are still dependent on and short of imported materials.
Businesses expect tax, fee cut to energize production, trading

Businesses expect tax, fee cut to energize production, trading

The costs of petrol, logistics, imported materials, and labor have simultaneously increased, putting more burden on the production activities of enterprises. In this context, authorities need to synchronously deploy many solutions to reduce the pressure of price hikes, maintain the purchasing power of the market, and support the operation of enterprises.
Import, export both increase

Import, export both increase

Since the beginning of the new year, many enterprises have accelerated production to meet the delivery schedule. Along with that, units have been striving to connect with supply chains to increase the source of raw materials.
Enterprises receive many export orders in new year

Enterprises receive many export orders in new year

On the first days of the new year 2022, many businesses have accelerated production to meet orders of millions of US dollars. Many of them even have planned to expand their production scale to receive orders that are moving from countries in the region to Vietnam.
MoIT tightens export activities to lower goods prices

MoIT tightens export activities to lower goods prices

The prices of many domestic and imported raw materials have climbed by 10-300 percent. This fact has put many enterprises, especially food and foodstuff manufacturing enterprises, at risk of having to increase their selling prices. Amid such context, the Ministry of Industry and Trade (MoIT) has issued regulations to restrict the export of some groups of raw materials in the production chain of domestic enterprises. This is a necessary solution to lower the cost of these items.
The paradox of construction material market

The paradox of construction material market

Authorities need to clarify the situation in which construction contractors are complaining because construction material prices are constantly fluctuating, with an increase of about 40 percent upwards, while many building material manufacturers earn huge profits.
Pharmaceutical production is in dire need for medicinal supporting industry. (Photo: SGGP)

Supporting industry makes effort to gain autonomy

The supporting industry has a significant meaning to economic restructuring towards industrialization and modernization. However, with the existing contradictions, if there are no drastic policies and actions, the story of building an autonomous supporting industry will remain far-fetched.
Footwear production at Biti's Company. (Photo: SGGP)

Footwear industry needs to resolve difficulties to make breakthrough

The Covid-19 pandemic has continued to obstruct trade activities of the leather and footwear industry in the main export markets of Vietnam, including Europe and the US. Last year, the whole industry exported US$19.5 billion, down 11.5 percent compared to 2019. Currently, Vietnam has controlled the pandemic, so many long-term orders have returned to enterprises. However, experts predict that the difficult situation will last until the end of this year.