(VOVworld)- The Ministry of Industry and Trade held an annual press conference yesterday/ on Monday, to announce the short-term prospects for Vietnamese industry.

Prospects for Vietnamese industry

Domestic enterprises have reportedly imported more as a positive sign  for the recovery of production. Government policies to support domestic enterprises are starting to take effect, boosting market growth. Mr Nguyen Thanh Hoa, Deputy Head of the Ministry of Industry and Trade’s Planning Department said: “We have noticed many positive signs in industrial production. For example, many garments and textiles companies  and footwear companies have sufficient orders for the second and third quarter of this year. Export turnover for domestic enterprises have increased 10% in the last three months. The first quarter of this year has seen a sharp increase in exports by many domestic enterprises, compared with the gloomy scenario of last December.”

According to a report released by the Ministry of Industry and Trade, VN’s export turn over in the first quarter totaled 30 billion USD, up 19.7% compared with the same period last year. Processing industry exports saw a record increase of 31.8%.