A series of export industries achieved a sharp increase in billions of USD despite the reciprocal tax order

A series of export industries achieved a sharp increase in billions of USD despite the reciprocal tax order - Photo 1.

Mr. Nguyen Sinh Nhat Tan - Deputy Minister of Industry and Trade - Photo: HONG QUANG

At the regular September Government press conference held on the afternoon of September 6, many questions were raised by reporters regarding Vietnam's export results, especially in the context of Vietnam and other countries being subject to reciprocal tariffs from the US.

Many billion-dollar industries are growing strongly

Responding, Mr. Nguyen Sinh Nhat Tan - Deputy Minister of Industry and Trade - said that in August, the total import-export turnover reached 83.06 billion USD, up 16%; in the first 8 months, it reached 597.93 billion USD, up 16.3% over the same period, maintaining a trade surplus.

Of which, exports in the first 8 months are estimated to reach about 306 billion USD, exceeding the growth target. The monthly average is about 38.2 billion USD, but July and August reached over 42 billion USD - the highest monthly export turnover ever.

According to Mr. Tan, import-export turnover increased sharply in two main groups of goods: agricultural and aquatic products and processed industry. For example, coffee reached 1.4 million tons with 6.5 billion USD; pepper is estimated at 3.3 billion USD, up 17.9%; aquatic products are estimated at 7.16 billion USD, up 13.5%.

Industrial products such as computers, electronic products and components are estimated at 66.9 billion USD; plastic toys, sports equipment and parts are estimated at about 5.5 billion USD, up 121.8%; machinery, equipment, tools and spare parts are estimated at 37.4 billion USD, up 13.8%.

Key products have flourished, such as textiles and garments, estimated at 26.5 billion USD, up 8.5%; footwear, estimated at 16.1 billion USD, up 7.2%.

Means of transport and spare parts are estimated at 11.4 billion USD; wood and wood products are estimated at 11.1 billion USD... contributing a high growth rate of 14.8%, achieving the set target.

With the average export target of 12%/year being a high target, Mr. Tan said that each month, 37.9 billion USD needs to be exported, but the current level achieved is higher.

With the more favorable production and export situation at the end of the year, the Ministry of Industry and Trade has proposed solutions such as promoting and supporting businesses and industry associations to effectively exploit markets, seek new markets, especially emerging potential markets.

"We will continue to diversify forms of trade promotion, including import promotion activities to diversify sources of raw materials. Strengthen early warning of risks, accompany businesses when lawsuits arise domestically and internationally. Support businesses to overcome new trade barriers in export markets, and negotiate with countries to eliminate non-tariff barriers," said Mr. Tan.

Public investment disbursement reaches high speed but is hindered by two-level government

Regarding promoting public investment disbursement, Deputy Minister of Finance Tran Quoc Phuong said that in the first 8 months of the year, the total capital implemented was nearly 410,000 billion VND - showing a clear change compared to the previous period and very positive when the disbursement speed was much higher.

For example, in the same period in 2024, disbursement reached 40.4%, while this year it was higher, with a difference of about VND135,000 billion. However, to achieve the target of disbursing 100% of the annual plan, Mr. Phuong said that it is necessary to focus on removing obstacles.

Specifically, removing implementation obstacles in the two-level government model, when some communes have not yet been fully consolidated, affecting implementation. Conducting project review and adjustment to suit the new model when some district-level projects have to be transferred to other units.

Along with that is the problem of capital allocation with the unallocated central budget capital, estimated at about 38,500 billion VND. Currently, 18/42 ministries, central agencies and 29/34 localities have not fully allocated, causing the project to not be approved.

According to Mr. Phuong, the restructuring of the administrative apparatus also partly affects this issue, leading to more time being spent to stabilize and review the investment portfolio. Or some projects, after re-evaluation, have to change investors, change functions, and temporarily stop implementation, affecting the time and progress of project approval.

In addition, there are institutional and legal problems, requiring the completion and guidance of implementing laws such as the Law on Public Investment. The implementation organization has problems related to site clearance, fluctuations in raw material prices, procedural problems, and weather impacts.

To resolve the problems, Mr. Phuong said the Government has issued specific instructions to overcome difficulties and complete documents for immediate application. The Ministry also requested localities to review staff, use capital, and remove procedures to speed up progress.

NGOC AN - HONG QUANG

Source: https://tuoitre.vn/loat-nganh-hang-xuat-khau-dat-ti-usd-tang-manh-bat-chap-lenh-ap-thue-doi-ung-20250906183406773.htm