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Rise of industrial production, Vietnam’s achievment in 2022

Hanoi, Dec 24 (Prensa Latina) The recovery of domestic industrial production with a high growth rate was distinguished today by the Vietnamese news agency VNA among the 10 most outstanding events in the trade and industry sector in 2022.

The industrial production index is expected to increase by more than nine percent this year, higher than the target set, thanks to the early control of the Covid-19 pandemic and the determination to reopen the economy at the right time, the media outlet highlighted.

The second place on the VNA list alludes to the achievement, for the seventh consecutive year, of a trade surplus estimated for 2022 at nearly $11 billion, with a total value of exports and imports of $732 billion, up 10 percent from 2021.

The deepening of international economic integration against a backdrop of many unprecedented changes in the world is also among the year’s highlights, along with Vietnam’s ranking fifth in the world in terms of e-commerce growth.

With an annual growth rate of 20 percent, the eMarketer now accounts for 7.5 percent of Vietnam’s sales of consumer goods and services, making up a market valued at US$16.4 billion.

The list of notable economic facts drawn up by the VNA is completed by the creation and operation of a system of Vietnam Trade Offices abroad, the so-called trade remedies applied to protect the domestic market and the latter’s own rebound.

In addition, the sufficient supply of electricity for production and daily life, the strengthening of the organizational structure of the Ministry of Industry and Trade, and the approval by the National Assembly (Parliament) of the amended Petroleum Law, which will come into force on July 1, 2023.

mem/mpm

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