Industrial and trade developments from the press review on December 13, 2019

I. Ministry Press Conference and Policy Updates

• Press Briefing: Specifically, the Ministry of Industry and Trade (MoIT) held a regular press conference on December 12.
• Key Topics: Furthermore, officials discussed pork supply for Tet, the CPTPP and EVFTA agreements, and electricity regulations.
• Gasoline Fund: Regarding fuel, MoIT confirmed that the new Decree 83 will still maintain the Gasoline Price Stabilization Fund.
• Personnel Issues: Additionally, the Ministry addressed disciplinary actions regarding officials in the Domestic Market Department who overstayed foreign trips.
• Administrative Reform: Meanwhile, the government is prioritizing institutional reforms to create a more favorable environment for businesses in 2020.

II. Import-Export and International Integration

• Record Turnover: Notably, total import-export turnover is expected to officially surpass the $500 billion mark in late December.
• Trade Surplus: Specifically, the trade surplus reached a record high of nearly $11 billion during the first eleven months of 2019.
• Preferential Tariffs: Furthermore, the Ministry of Finance submitted twelve decrees regarding preferential tax rates for partners in active FTAs.
• Market Growth: In fact, all markets where Vietnam has signed FTAs, such as Japan and South Korea, recorded strong growth.
• Efficiency Measures: Additionally, MoIT will issue electronic C/O Form D for ASEAN exports within just six working hours starting January 2020.
• Catfish Success: Finally, the United States officially recognized Vietnam’s catfish food safety control system as equivalent to its own.

III. Energy and Electricity Management

• Hydropower Shortage: Regarding utilities, water levels in many hydropower reservoirs are currently near “dead levels”.
• Conservation Call: Consequently, MoIT is calling for citizens and businesses to save both electricity and water.
• Supply Outlook: Nevertheless, officials guaranteed that the electricity supply for 2020 will remain stable.
• Modernization: Moreover, EVN is implementing electronic contracts and smart grid technology to improve service transparency.
• PVN Performance: Regarding oil and gas, PVN’s total revenue has reached over $374 billion to date.

IV. Heavy Industry and Manufacturing

• TISCO II Crisis: Specifically, the TISCO II steel project remains “frozen” and is sinking further into debt.
• Coal Imports: Meanwhile, total spending on coal imports for 2019 is projected to reach approximately $3.7 billion.
• Automotive Policy: Regarding cars, the government plans to amend Decree 116 to loosen regulations on imported vehicles.
• Tax Stability: However, the Ministry of Finance decided not to reduce import taxes on completely built-up (CBU) cars under nine seats.
• Textile Challenges: In contrast, many textile firms are struggling to find enough orders for 2020.

V. Domestic Market and Consumer Protection

• Pork Price Surge: Specifically, pork prices have risen sharply, reaching up to 82,000 VND per kg in some regions.
• Market Stabilization: Therefore, MoIT is planning to import high-quality pork to ensure supply during the Lunar New Year.
• Counterfeit Goods: Finally, market management forces in Hanoi seized over 26,000 counterfeit excavator seals bearing the protected SKF brand.

Proactive Query: Would you like a more detailed breakdown of the new electronic C/O issuance process or the specific water shortfall statistics for hydropower dams in different regions?