The Ministry of Industry and Trade's Electronic Information Portal would like to respectfully introduce 10 outstanding events of the Industry and Trade sector in 2023:

1. The restructuring project of the Industry and Trade sector was approved by the Prime Minister, aiming to turn our country into a country with modern industry and high industrial competitiveness by 2030.

Focus on industrial production in fields with high scientific content to improve competitiveness (photo: VinFast electric cars are exported to the US and Canada)

On February 28, 2023, the Prime Minister signed Decision No. 165/QD-TTg approving the Project on restructuring the Industry and Trade sector for the period up to 2030. The Project aims to restructure the Industry and Trade sector to carry out economic restructuring, improve productivity, quality, added value and competitiveness; Create new growth drivers associated with qualitative changes in the growth model of the Industry and Trade sector; Strive to become a country with modern industry by 2030, belonging to the group of countries with high industrial competitiveness.

2. Four important national sectoral plans on energy and minerals for the 2021-2030 period, with a vision to 2050, approved by the Government, open up new development space for Vietnam's energy and mining sector.

      Developing renewable energy contributes to ensuring national energy security

After a period of urgent research and planning, ensuring full and strict compliance with the provisions of the Law on Planning and relevant Resolutions and Decrees of the National Assembly and the Government, 04 important national sectoral plans in the field of energy and minerals for the period 2021-2030, with a vision to 2050, (including: (i) National power development plan; (ii) National petroleum and gas reserve and supply infrastructure plan; (iii) Planning for exploration, exploitation, processing and use of minerals and (iv) National energy master plan) have been approved by the Prime Minister. This is an event of special significance, opening up a new development space for the Vietnamese energy and mining industry in a modern, sustainable, and equitable direction, meeting the requirements of industrialization and modernization of the country, in line with the viewpoints and policies of the Party and State and the practical capabilities of the country as well as international development trends.

3. Establishment and launch of the National Competition Commission; The Law on Consumer Protection (amended) was passed by the National Assembly, contributing to the fundamental completion of the legal framework on consumer protection.

Launch of the National Competition Commission

On February 10, 2023, the Government issued Decree No. 03/2023/ND-CP stipulating the functions, tasks, powers and organizational structure of the National Competition Commission. The establishment of the National Competition Commission marks an important milestone, ensuring the organization and full and comprehensive implementation of the Competition Law. 

In order to complete the legal framework on consumer rights protection, the Ministry of Industry and Trade has presided over the development, reported to the Government, submitted to the National Assembly for approval, and promulgated the Law on Consumer Rights Protection (amended) on June 20, 2023, which will take effect from July 1, 2024. This is an important Law project, having a wide impact on many sectors and fields, contributing to ensuring stability, unity, synchronization, transparency, feasibility, and protecting the legitimate rights and interests of consumers.

4. Focus on removing difficulties, completing and accelerating the progress of many important energy projects: Putting into operation the 1 million ton/year Thi Vai LNG Port Warehouse and implementing a series of LNG power projects; Inaugurating Thai Binh 2 Thermal Power Plant and completing the repair of thermal power units; Urgently implementing 500 kV line 3 projects, contributing to ensuring energy security.

The Prime Minister and delegates cut the ribbon to inaugurate Thai Binh 2 Thermal Power Plant - photo: Can Dung

The operation of the Thi Vai 1 million tons/year LNG Port Project  has paved the way for the largest imported LNG product (1 million tons) to be present in the Vietnamese market, officially putting Vietnam on the global LNG map, marking an important step in the process of energy transition towards green, clean and sustainable, while contributing significantly to ensuring national energy security. 

Thai Binh 2 Thermal Power Plant was inaugurated on April 27, 2023 (in My Loc commune, Thai Thuy district, Thai Binh province).  It is a plant with a total capacity of up to 1,200 MW, the largest capacity in the Northern Delta region. After being put into operation, the plant will annually supply more than 7.2 billion kWh of electricity to the national grid.    

In addition, in order to ensure sufficient electricity supply for production, business and consumption of the people, the Ministry of Industry and Trade has strengthened the direction and inspection of coal-fired thermal power plants, promptly repaired generators with short-term and long-term problems to operate and generate electricity stably. At the same time, the 500 kV line 3 project from Quang Trach to Pho Noi with a total length of about 515 km is being urgently implemented. This is a key and urgent project, playing a particularly important role in national energy security, especially for the Northern region.

5. Developing foreign markets has made many important strides: Consulting and submitting to the Government for promulgation Resolution No. 93/NQ-CP dated July 5, 2023 on Improving the effectiveness of international economic integration; Completing the signing of the Vietnam - Israel Free Trade Agreement (VIFTA) after more than 7 years of negotiation and agreeing to conclude negotiations towards early signing of the Comprehensive Economic Partnership Agreement with the UAE; Removing import and export difficulties with provinces bordering China. Thanks to that, contributing to diversifying export markets, the trade surplus reached a new peak for the 8th consecutive year.

Minister Nguyen Hong Dien chaired the trade conference to find solutions to promote the development of foreign markets.

The Ministry of Industry and Trade has strongly implemented many solutions to develop foreign markets.  Resolution No. 93/NQ-CP dated July 5, 2023 on Improving the effectiveness of international economic integration, promoting rapid and sustainable economic development in the 2023-2030 period will help improve the quality of international economic integration and the competitiveness of the economy, especially during the recovery process. 

The Trade Office system effectively promotes the role of “economic messenger” in international economic integration. Vietnamese Trade Offices abroad continuously update and promptly provide information on markets and new regulations and policies of host countries; provide early warnings of new “barriers” from partners and trade lawsuits, helping State management agencies and enterprises to have appropriate and effective policy responses. 

Functional units under the Ministry of Industry and Trade have organized many trade promotion activities domestically and internationally, contributing to strongly promoting Vietnamese products and brands, supporting the expansion of export markets. The work of removing difficulties, facilitating customs clearance, and preventing congestion of import and export goods through border gates has been effectively implemented. 

The Vietnam - Israel Free Trade Agreement (VIFTA) signed on July 25, 2023 opens up more export opportunities for Vietnamese goods.  Israel is the first country in West Asia with which Vietnam has signed an FTA, and Vietnam is also the first country in Southeast Asia with which Israel has signed an FTA.

Along with that, Vietnam and UAE are also promoting negotiations and soon signing the Comprehensive Economic Partnership Agreement (CEPA). The Vietnam - UAE CEPA is the first agreement that Vietnam has negotiated with an Arab country in the Middle East and Africa, serving as an important bridge for Vietnamese goods to reach these markets. 

The trade balance continues to record a trade surplus for the 8th consecutive year, with the surplus in 2023 estimated at nearly 30 billion USD,  nearly 3 times higher than the previous year, contributing to increasing foreign exchange reserves, stabilizing exchange rates and macroeconomic indicators. 

6. Domestic trade grew positively, exceeding the set target, becoming a bright spot in the macro economy and a pillar for economic growth in the context of many difficulties in industrial production and export markets.

Many activities to promote domestic trade have been organized by the Ministry of Industry and Trade.

Domestic trade activities continue to effectively exploit the market's purchasing power, achieving growth rates that surpass the overall growth rate of the economy. Total retail sales of goods and service revenue in 2023 are estimated to increase by 9.6% compared to 2022, exceeding the set target (target of 8-9%), contributing to maintaining macroeconomic stability, controlling inflation, and ensuring major balances of the economy.

7. E-commerce continues to maintain its position as the world's top growth rate, creating momentum for digital economic development and leading digital transformation.

                             Opening of Online Friday 2023 Online Shopping Day

In 2023, the Ministry of Industry and Trade organized many activities on regional linkages for e-commerce development, cross-border retail sales of goods increased, e-commerce has affirmed itself as one of the pioneering fields of the digital economy, creating momentum for economic development. In 2023, the scale of Vietnam's retail e-commerce market is expected to reach 20.5 billion USD, an increase of about 4 billion USD (equivalent to 25%) compared to 2022. Vietnam's e-commerce growth rate is ranked among the top 10 countries with the fastest e-commerce growth rate in the world (as of December 2023 according to Statista).

8. Digital transformation and e-Government development create breakthroughs; Ministry of Industry and Trade leads ministries and branches in serving people and businesses in providing public services

The conference to promote digital transformation at the Ministry of Industry and Trade was held to specifically identify problems and propose timely and appropriate solutions to improve operational efficiency.

The Ministry of Industry and Trade has implemented many digital transformation solutions, especially in implementing administrative procedures, building online public services with the goal of taking people and businesses as the center of service. By November 2023, the Public Service Portal of the Ministry of Industry and Trade is providing 236 public services, with more than 49,000 businesses participating in declarations. The total number of dossiers submitted through the Ministry's public services is nearly 1.7 million dossiers, accounting for 99% of the total number of dossiers sent; at the same time, 16 public service groups have been connected to the National Single Window (VNSW), implementing 300,475 dossiers in 2023. Particularly for the procedure of Issuing Certificate of Origin Form D, 219,068 dossiers have been exchanged with ASEAN countries since the beginning of the year through the ASEAN Single Window (ASW). This is the first electronic document of Vietnam sent abroad, creating a premise for Vietnam to continue exchanging and processing online other commercial documents in other electronic forms according to international agreements and commitments of which Vietnam is a member.

With the achieved results, the Ministry of Industry and Trade ranked first among ministries and branches according to the Ministry's ranking of the Index of serving people and businesses in performing administrative procedures and providing public services (according to the announcement on the National Public Service Portal up to the present time).

9. Respond effectively in trade defense, protect export goods early and from afar.

The Ministry of Industry and Trade regularly monitors the export activities of enterprises and issues early warnings for goods that are likely to be sued for trade remedies.

In 2023, Vietnam's export goods will face more investigations and application of trade defense measures by foreign countries. By the end of November 2023, Vietnam's export goods were the subject of 239 investigations. Countries have initiated 12 trade defense cases against Vietnam's export goods. In the opposite direction, Vietnam has also initiated investigations into 27 trade defense cases. 

The Ministry of Industry and Trade regularly monitors, evaluates and provides a warning list of some export items at risk of being investigated for trade remedies. Early warning activities, together with consulting and supporting activities for businesses, have brought about positive results, with exporting businesses not being subject to trade remedies taxes or being subject to taxes at lower levels than the initial accusations or compared to other countries that are also subject to taxes, contributing to maintaining many export markets.

10. Strong changes in discipline and administrative order; improving the effectiveness and efficiency of direction and administration, associated with promoting the responsibility of leaders in performing public duties. 

The Ministry of Industry and Trade has implemented many activities to innovate and improve the working environment, enhancing the quality and efficiency of work.

In 2023, the Ministry of Industry and Trade identified discipline, administrative discipline, and public ethics for civil servants and employees at agencies and units as important and prerequisite factors to improve operational efficiency. This spirit is demonstrated through the Party Executive Committee and the Ministry's leaders directing the revision and supplementation of most internal regulations and rules (such as the Working Regulations of the Party Executive Committee, the Working Regulations of the Ministry of Industry and Trade, the Regulations on coordination of work between the Party Executive Committee and the Party Committee and the Ministry's leaders, along with many other regulations and rules of the Ministry), ensuring compliance with current legal provisions and the direction and administration of superiors. In addition, the Minister has issued many documents directing the rectification and strengthening of discipline and administrative discipline; improving the quality of law-making work, the effectiveness of law enforcement, and enhancing responsibility, quality, effectiveness and efficiency in management and administration at the Ministry of Industry and Trade.