Deputy Prime Minister, Minister of Natural Resources and Environment Tran Hong Ha and Minister of Industry and Trade Nguyen Hong Dien also attended the conference.

Chinh said the ministry should take advantage of the free trade agreements (FTAs) that Viet Nam has joined to help diversify export markets and maintain traditional markets, such as the US, China, the EU, Japan, South Korea and ASEAN.

Viet Nam needed to expand its export market to Eastern Europe, the Middle East, South America, South Asia, and Africa and promote supply chain diversification.

Negotiations that are ongoing concerning an FTA with Israel and the opportunities from China's reopening after COVID-19 must also be exploited.

The PM requested the MoIT implement synchronous solutions to boost exports for commodities with high potential and demand on the global market.

In addition, the sector needed to boost domestic purchasing power by implementing trade promotion programmes on the domestic market and promote the distribution of goods via e-commerce channels.

It needed to focus on calling for investment in modernising the distribution system in rural and mountainous areas to promote Vietnamese goods.

The ministry was also asked to step up market management and the fight against smuggling and trade fraud and take specific solutions to mobilise and bring into full play resources, especially those from different economic sectors.

It needed to coordinate with ministries and sectors to reduce logistics service costs to improve competitiveness.

The leader also stressed the importance of digital transformation, a green and circular economy, and the climate change response while urging the ministry to quickly complete the four master plans on electricity, energy, minerals and oil and gas infrastructure.

At the conference, Minister Nguyen Hong Dien said that in 2023, the Ministry of Industry and Trade would focus on implementing programmes to restore and develop the economy, promote disbursement of public investment capital, creating the supply of materials for sustainable product development.

The ministry would focus on solving difficulties for businesses, implementing solutions to removing barriers in terms of credit and administrative procedures to promote economic growth.

It would also promote administrative reform, simplify procedures, and create favourable investment, production and business activities conditions.

According to a report presented at the conference, industrial production recovered in almost all fields and localities last year, of which processing and manufacturing remained the main growth driver with a rate of 8.1 per cent.

Export-import also hit a new record of over US$732.5 billion in revenue, representing a 10-fold rise year-on-year. The trade surplus had been maintained for seven consecutive years, reaching $11.2 billion in 2022.

The total retail sales of goods and services increased by nearly 20 per cent, exceeding the set target by 2.5 times.

Viet Nam is among the top five countries worldwide for e-commerce growth.

At the meeting, the sector proposed the Government continue with policies to boost production and business, attract more foreign investments, and soon build and approve national, regional, provincial and sectoral planning schemes, and further consolidate institutions relating to the sector. — VNS