In 2022, the Ministry of Industry and Trade sets a target of total export turnover to grow by 6-8% based on demand with exports on the world market will continue to increase. However, the COVID-19 pandemic can change all forecast numbers, so the efforts of businesses and authorities in developing the market are very important.
At the Industry and Trade Industry Review Conference in 2021, Deputy Prime Minister Le Van Thanh assessed that domestic and international market developments, especially import and export activities, will have unpredictable fluctuations. Therefore, the Industry and Trade industry needs to closely follow domestic and international market developments, comprehensively assess the impacts to take full advantage of the FTAs that Vietnam has signed or joined.
The world's demand for goods increases
According to the Ministry of Industry and Trade, in 2022, the COVID-19 vaccination program and economic stimulus measures in major economies will boost global growth. IMF forecasts global economic growth in 2022, although lower than in 2021, will still reach 4.9%; while according to the WB's forecast, the global economic growth in 2022 will reach 4.3%.
Potential risks can have a very quick and strong impact on the consumer demand of the main markets of the textile and garment industry.
This will have a positive impact on global consumer demand in general and Vietnam's commodity exports in particular. Even so, emerging markets and developing economies continue to grapple with the COVID-19 pandemic and its consequences.
Therefore, the Ministry of Industry and Trade forecasts that the demand for export goods on the world market will continue to increase. textile products, footwear, furniture, electronics... of Vietnam. Along with that, a number of economies continue to deploy demand stimulus packages, through direct support to people, thereby promoting consumption of goods, including those imported from Vietnam.
In particular, the trend of restructuring the global supply chain along with new-generation free trade agreements (FTAs) will continue to create many changes in the restructuring strategy of Vietnamese industries and businesses.
However, the Ministry of Industry and Trade also issued warnings about risks and challenges for export activities in 2022: the trend of increasing nationalism, trade protectionism, trade war, anti-globalization , especially the US-China trade war is forecasted to continue in the near future. World commodity prices are still unpredictable, logistics continues to be difficult.
From the business perspective of the market, Chairman of the Vietnam Textile and Garment Group (Vinatex) Le Tien Truong said that in 2021, the Group has a consolidated profit of over VND 1,000 billion for the first time in 2021, which is a very good result in the context of the situation. difficult situation due to COVID-19. "However, entering 2022, with the current developments of the epidemic, we still have to approach 2022 as a year with both opportunities for recovery but with great challenges and many surprises," Truong said.
Along with that are the problems of the world financial market, especially the risk of inflation. Potential risks can have a very quick and strong impact on the consumer demand of the main markets of the textile and garment industry.
According to the Chairman of Vinatex, at this time, the speed of market entry is the ultimate weapon of competition. The opportunity is there but there will be a lot of people participating, only the fastest can get the best results.
Improve export efficiency
For the agricultural sector, Minister of Agriculture and Rural Development Le Minh Hoan said that 2022 will be even more difficult than 2021. This is the first year the agricultural sector implements the strategy of agricultural and rural development to 2030, with a vision to 2050. The strategy towards ecological and sustainable agriculture and the transformation of agricultural production thinking into an agricultural economy. That is, it is necessary to expand markets, diversify processed products, and create multi-valued agricultural products.
In order to expand the export market of agricultural products by taking advantage of FTAs, Minister Le Minh Hoan suggested that the Ministry of Industry and Trade, the Ministry of Foreign Affairs and the Ministry of Agriculture and Rural Development develop projects to export agricultural products to each potential market. Currently, the Ministry of Agriculture and Rural Development is drafting a project, in the direction of standardizing the study area according to the technique of each market; establish alliances of export enterprises and logistics enterprises and localities with raw material areas.
Minister Le Minh Hoan added: "Let's not be in a hurry to celebrate when some shipments and some products to the European market are widely communicated. According to foreign diplomatic missions, these shipments are still carry-ons. spontaneous nature, mainly located in stalls of Asian origin, but not standardized, not yet entered the large foreign distribution system. There is a clear project from market promotion and market culture, because the market in 27 European countries does not have the same consumer culture…”.
Therefore, the Ministry of Industry and Trade together with the Ministry of Agriculture and Rural Development need to develop the domestic agricultural product market; continue researching, processing, diversifying products and promoting the implementation of plans to support the protection of trademarks and geographical indications for potential export products abroad in the next 5 years.
Faced with the above difficulties and challenges, Deputy Prime Minister Le Van Thanh requested the Ministry of Industry and Trade, together with other ministries and sectors, to boost exports, diversify markets and export goods, especially potential markets. traditional school; effectively solve problems in customs clearance activities, prevent congestion at seaports and border gates, especially Vietnam - China border gates as in the past time; coordinate with local ministries and branches to have radical and comprehensive solutions to increase the rate of official exports to China.
In addition to the export market, the Deputy Prime Minister also asked to continue to focus on developing domestic trade, expanding distribution systems such as trade centers, supermarkets, traditional markets, wholesale markets... in order to promoting consumption, developing e-commerce in association with traditional commerce to effectively exploit the strong development of the digital transformation trend.
According to Thy Le/Vnbusiness