Vietnamese PM approves strategy for exports during 2011-2020

Vietnamese Prime Minister Nguyen Tan Dung has approved the country's strategy for exports during 2011- 2020 and vision to 2030, according to the Vietnam News Agency on Saturday. Accordingly, by 2020 total export value is expected to triple the 2010 figure, with an average 2,000 U.S. dollars per capita and a balanced trade turnover reached. The strategy set targets for exports growth of 12 percent per year during 2011-2015, 11 percent during 2016-2020, and 10 percent during 2021-2030. The growth of imports would be lower than exports. Trade deficit will be contained below 10 percent by 2015 and get balanced by 2020, and trade surplus would be achieved by 2021- 2030. Development of the exports will follow a sustainable and appropriate growth model with expansion of the export scale and improvement of exports' added value. Exports will focus on four groups, including fuel - natural minerals, agro-forestry-fisheries, processing industry manufacturing, and new branded products. Prioritized imports will be high-tech equipment and machinery that are suited to domestic human resources and production skills and for fuel saving, and materials and spare parts for those sectors in need for production, or in replacement of domestic low quality products.