Vietnam’s export is set to grow 5 percent annually from 2021 to 2025 to reach 340 billion USD in 2025, according to the Ministry of Industry and Trade (MoIT)’s plan on socio-economic development for the five-year period.

 

The goods export growth of domestic firms is projected at 5 percent, with export to Europe and America expanding from 7-10 percent each year.

 

Meanwhile, import growth during the period would rise 4.9 percent annually, hitting around 330 billion USD in 2025. The pace of local businesses is expected to stand at 6 percent.

 

Under the plan, the industrial sector would make up over 35 percent of the national gross product (GDP), while the commercial sector accounts for 13.5 percent in 2025.

 

The total revenue of retail sales of goods and consumer services is expected to increase 9-9.5 percent each year.

 

The ministry aims to have 45 percent of small-and medium-sized enterprises to join e-commerce.

 

To that end, it will step up economic restructuring in combination with growth model reform, while improving productivity, quality, efficiency and competitiveness.

 

At the same time, the ministry will build infrastructure comprehensively, mobilise more investments and use them effectively, improve the quality and efficiency of the use of human resources, and step up innovations. /.

VNA