Vietnam : Govt targets exports worth $58 bn for 2008

At a conference held on December 19, the Ministry of Industry and Trade announced its projected export plans for 2008, revealing which the ministry stated that it aimed a US $58 billion worth exports.
The achievement of this target would mark an increase of 20-22 percent compared to the previous year. Hoang Trung Hai, Deputy Prime Minister of Vietnam asserted that the main emphasis should largely be on balancing the country’s trade deficit and went on to point out that the effectiveness of trade promotion activities, human resource development and trade associations would play a crucial role in furthering economic growth.
The ministry observed several areas where precision was required including improvement in the quality of traditional export items, expanding the scale of production, modernizing technology and boosting export of big earners and labor-intensive goods.
Textile and footwear products would be encouraged in particular to boost exports. Handicraft goods alone are likely to contribute immensely in making the target exceed $1 billion.
The main importers targeted for the coming year would include Japan, Association of Southeast Asian Nations (ASEAN), China, South Korea, EU, US and Australia. Besides, Exports to Africa and south-west Asia is expected to rise by nearly 54 percent to reach $2.8 billion.