A project on improving the competitiveness of export commodities approved

The Prime Minister has approved a project on improving the competitiveness of a number of key Vietnamese export commodities by 2020 with a vision towards 2030.

By 2020, the quality and added value of advantageous products will be improved with the added value of agricultural and fishery products to be expanded by 20%. Proportion of these products will be enhanced in developed economies including the EU, Japan, and the Republic of Korea. In the 2016-2020 period, export growth rate of commodities will surge by 8% per year. Groups of prioritized commodities will include agricultural and aquatic products especially rice, coffee, rubber, seafood, and pepper. The manufacturing industry consists of garments and textiles, furniture, telephones and spare parts, computers, electronic products and spare parts. The project aims to re-organize production by transforming methods of production and export towards higher added values; changing export models from intermediate export to direct ones. In addition, the project targets to cement and expand export markets; build national brand names; and improve national competitiveness; cut business costs; improve business competence especially that of SMEs and associations.

Source: VOV5