Addressing a national teleconference on promoting exports on Monday, Mr. Phuc raised several questions on how to increase the added value of Vietnamese exports, remove barriers, and keep Vietnamese exporters updated with opportunities, risks, market information and regulations abroad.

“We need a comprehensive and long-term strategy to address these issues. Each ministry and local government must have their own export plans with a specific roadmap,” Mr. Phuc noted.   

He pointed out that irrelevant regulations and slow administrative reforms are hindering exports. Prime Minister Phuc urged authorities to change their mindset and act quickly in order to create a breakthrough.

“We need to fully tap our potential and advantages to secure export growth of at least between 15% and 20% in the coming years. This will greatly benefit our GDP growth,” the Prime Minister suggested.

In 2017, Vietnam’s exports grew more than 21% to hit a record 214 billion USD, exceeding the target set by the National Assembly. However, the growth rate was 15.8% when cell phones, computers and electronic spare parts were excluded. Exports still predominantly relied on foreign-invested enterprises, which contributed over 70%.