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Stimulus packages drive recovery of trade, industry sector: Officials
The industry and trade sector has recovered with an average monthly increase of 10 per cent since July as a result of the Government’s economic stimulus packages, according to officials.
They said the sector was expected to achieve a growth rate of 8 per cent at the end of this year.
The Deputy Minister of Industry and Trade, Bui Xuan Khu, said the stimulus packages had helped the economy recover, albeit slowly.
The stimulus package in April helped farmers by providing loans with subsidised interest for the purchase of equipment and materials for agriculture, and construction materials.
This package also focused on assisting enterprises to improve product quality and renew technology to raise the competitiveness of local products on the domestic and foreign markets.
As a result, sales of engines and agricultural machines this year have recorded high growth.
Rice plant cutters and harvesters have seen the highest sales growth, more than three times compared to last year.
The "Vietnamese use Vietnamese products" campaign urged companies to pay more attention to the domestic market to meet farmers’ demands and increase sales turnover, particularly in rural areas.
Garment and textile enterprises’ domestic sales in the last nine months rose by 18 per cent compared with the same period last year.
Companies were also encouraged to expand exports to traditional markets such as Japan , the EU and the US, and penetrate new markets in South America, Africa and Middle East.
As of early October, the level of production in key industries such as electricity, crude oil, coal and gas, air conditioners, detergent and construction materials had all improved.
Officials said higher sales turnover had prompted more production activity.
In the coming months, the ministry has told businesses to continue to focus on domestic demand, and use subsidised interest loans to buy machines, equipment and materials.
The Government will also closely monitor the supply of essential goods such as petrol products, fertilisers, steel, printing paper, cement and rice to stabilise the market price.
In the coming months, the ministry has asked companies to invest in projects to foster production, processing and exports, especially garments, footwear, agricultural products and seafood.
Also vitally important is the production of machines, equipment and materials for agricultural production in line with the Government’s policy on agriculture, farmers and rural areas.
VietNamNet, VietNamNews
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