Prioritizing home sugar consumption and fertilizer production for the domestic market

Minister of Industry and Trade Nguyen Hong Dien issued a directive encouraging the export and import management of certain goods in order to promote local production and consumption.

According to the paper, export and import operations in the early months of 2021 generated some promising results, despite the fact that local and international markets remain paralyzed by the Covid-19 pandemic.

Apart from certain positive aspects, the export and import of some strategic goods that are critical to local production and consumption, such as petroleum, coal, iron and steel, and fertilizer, have raised some concerns that must be carefully monitored, evaluated, and addressed.

Imports of certain products such as petroleum, coal, and rice have soared, while local products are capable of meeting domestic consumption demands; some domestic products met enormous domestic demand but were preferable for export, disrupting the supply-demand balance and domestic price level (such as iron and steel, fertilizer).

Thus, the Minister of MoIT asked that competent units under the Ministry, corporations, general companies, associations, and enterprises involved in exporting and importing strategic goods fulfill certain requirements.

The Vietnam Energy Association, the Vietnam Fertilizer Association, companies, and mining, manufacturing, and exporting businesses of coal and fertilizers place a premium on products that serve the local market and satisfy domestic consumption and production requirements.

The Vietnam Petroleum Association, the Vietnam Sugarcane Association, the Vietnam National Petroleum Group, key groups, corporations, and traders involved in the export and import of petroleum, as well as enterprises involved in the import of sugar, are urged to collaborate with domestic manufacturing enterprises, prioritizing the use of domestic goods over imported ones.

The Agency of Foreign Trade reviews the general import and export mechanism and makes recommendations on how rice and sugar imports should be managed; to serve as the focal point for assuming primary accountability for, and coordinating with, ministries and branches in conducting research and proposing measures and solutions for submission to the MoIT for approval or reporting to the Prime Minister if the matter is beyond the scope of the ministry.