Vietnam aims for a new export targets in 2024

Experts from the University of Commerce proposed a high growth scenario with favorable economic developments, the total import-export turnover of goods is estimated at 790.56 billion USD, an increase of 16.08% compared to the previous year. In 2023, the trade surplus will be 27.16 billion USD.

Accordingly, with the base scenario, the total import-export turnover of goods is estimated to reach 760.15 billion USD, an increase of 11.62% compared to 2023. In the high growth scenario, the total import-export turnover of goods estimated to reach 790.56 billion USD, an increase of 16.08% compared to 2023. With the negative scenario, the total import-export turnover of goods is estimated to reach 737.35 billion USD, an increase of 8.27% compared to 2023. The trade surplus in the three scenarios all maintains between 25-27 billion USD.

According to data just announced by the General Statistics Office, in the first quarter of 2024, the total import-export turnover of goods reached 178.04 billion USD, an increase of 15.5% over the same period last year. Thus, import-export figures in the first quarter of the new year reached about 22.5% compared to the whole year expectation in the high growth scenario.

So according to experts, to achieve the highest goal for growth in trade, import and export, it is necessary to implement many policies specifically divided into each field and each issue from market to operation. enterprise…

Associate Professor, PhD. Phan The Cong – Dean of the Faculty of Economics, University of Commerce said that the report pointed out 6 groups of policies for import-export development, specifically including export market development; sustainable development of export goods sources; trade promotion, export promotion; supply chain development; develop commercial infrastructure and logistic services to serve foreign trade activities; support import and export businesses; import management.
Regarding the infrastructure policy group, the report of Thuongmai University recommends that the Government needs to increase public investment in infrastructure development projects serving import and export activities. . These include: building, expanding, and upgrading roads, railways, seaports and airports to increase the ability to transport goods and services; Invest in warehouse infrastructure, distribution centers and logistics management systems to improve the transportation and storage of goods; Improve infrastructure and services at seaports and border gates to enhance cargo handling capacity and support import and export activities.

In particular, it is necessary to improve customs and clearance processes, create special logistics zones to develop logistics support services; promoting digital transformation, implementing logistics services on digital platforms to improve service quality and performance…

To support import-export businesses, according to experts, it is necessary to implement financial support policies to improve capacity; At the same time, develop and implement policies to support export enterprises in overcoming technical barriers and trade defense measures, promoting exports…

Assessment of the 2024 macro environment, representative of the report compilation group, Associate Professor, PhD. Phan The Cong, Dean of the Faculty of Economics, University of Thuongmai, said that Vietnam has many opportunities and advantages in trade activities when participating in many free trade agreements (FTAs), especially generation FTAs. new. Furthermore, positive signals from foreign direct investment (FDI) in Vietnam are expected to play an important role in trade activities…

In addition, Mr. Cong emphasized that reforms in trade and customs policies have helped improve the efficiency of import-export management, simplify administrative procedures, and reduce costs and time for businesses. Furthermore, Vietnam has labor costs, abundant and quality human resources, as well as a favorable geographical location for importing and exporting goods with major markets such as China, the US, EU, ASEAN, Japan, Korea,…

However, in 2024, Vietnam’s trade situation is still considered to be relatively difficult when the economic recovery of Vietnam’s partner countries is slower than initially expected. Meanwhile, Vietnam’s economy has high trade openness, so it is greatly affected by international developments, leading to difficulties for industries with large export turnover such as textiles, wood, electronics…

Along with that are internal difficulties such as the quality of labor has not improved, the growth of the processing and manufacturing industry tends to slow down, the application of high technology is limited… In particular, Vietnam Participating in many FTAs ​​with higher requirements must fully implement international commitments, including tariffs, market opening, intellectual property… so no longer enjoy special incentives for the transition period. change as before.

Writor: Ky Thu
Source: vietnamfinance.vn