Export policy lacks sustainability: Oficial

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VietStock FI English - 41 month(s) ago 4 readings

Deputy Minister of Industry and Trade Le Danh Vinh has called on policymakers to gear up to an import-export balance and focus more on export quality rather than quantity.

Vinh also told a workshop in Hanoi on June 14 that export policies should ensure environmental protection and social welfare, and encourage sustainable development, factors which have not featured strongly in the current policy.

He pointed out that value-added goods were a small part of exports, which were currently largely based on natural resources and low labour costs. Also, export policy favoured quantity and almost ignored quality and efficiency.

“The import-export sector in the recent past has not made a strong contribution to socio-economic development in a sustainable way,” said the Deputy Minister.

Despite these shortfalls, Vinh recognised exports as one of the major momentums for economic growth, contributing to employment promotion, income increases and poverty alleviation.

Export policies have encouraged the nation to enhance managerial experience and increase capital, provide broader access to advanced technology and solve the shortage of material, fuel and equipment.

Favourable export policies have also helped to make high quality services and products more affordable to consumers, the senior official concluded.

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