PM urges industry, trade sector to pioneer in six key areas

Prime Minister Pham Minh Chinh stressed that to make a substantive contribution to national development, the industry and trade sector must also achieve double-digit growth, generate new jobs, strengthen traditional growth drivers such as export and consumption, and accelerate emerging engines of growth, including the green, digital, circular, knowledge-based and sharing economies.

Prime Minister Pham Minh Chinh addressing the conference of the the Ministry of Industry and Trade on December 19 (Photo: VNA)

Prime Minister Pham Minh Chinh urged the Ministry of Industry and Trade (MoIT) to promote its leading role in six key areas while chairing a conference in Hanoi on December 19 to review its performance in 2025 and the 2021-2025 period, and set tasks for 2026.

The PM underlined that the sector must take the lead in promoting industrialisation and modernisation, facilitating rapid, sustainable and green development in the digital era, diversifying markets, products and supply chains, combating wastefulness, corruption, counterfeit goods and trade fraud, building a clean, capable and professional workforce, and spearheading decentralisation, delegation of power, administrative reform and data connectivity.

The Government leader hailed efforts and achievements of the sector in the 2021–2025 period.

In the last five years, the MoIT led the drafting of six laws, 65 decrees, 216 circulars, and more than 20 strategies and development programmes for key sectors.

Major economic balances have been maintained, particularly energy security and the supply of essential goods and production inputs, alongside steady progress in power infrastructure, including key 500kV and 220kV transmission projects.

Import–export activities recorded strong growth, becoming a key pillar of economic resilience. Exports rose by an average of 10.8% annually, more than double the target. In 2025, total trade turnover was estimated at 920 billion USD, placing Vietnam among the world’s top 15 trading nations, with a trade surplus of around 22 billion USD.

Prime Minister Pham Minh Chinh outlines key tasks for the industry and trade sector in 2026 (Photo: VNA)

Industrial production recovered robustly, with the index of industrial production (IIP) estimated to increase by 9.5%. The domestic market grew by 9–10%, while e-commerce surpassed 30 billion USD for the first time, accounting for two-thirds of the digital economy and ranking Vietnam among the world’s top 10 fastest-growing e-commerce markets and top three in ASEAN.

Vietnam’s national brand value in 2025 reached 519.6 billion USD, up 2.5% from 2024, firmly maintaining its 32nd position globally.

In 2026, the sector aims to raise the IIP by over 10%, accelerate trade development with a target of more than 8% growth in export turnover, maintain a sustainable trade surplus, and enhance the effectiveness and efficiency of state management as well as the sector’s overall competitiveness.

Despite the achievements, PM Chinh warned of emerging challenges, including geopolitical fragmentation, slower global growth, and the accelerating green and digital transitions, which require proactive and flexible responses.

He noted that 2026 holds special significance, marking the first year of implementation of the 14th National Party Congress Resolution and the 2026–2030 socio-economic development plan, with the target of double-digit economic growth to lay a solid foundation for realising the country’s “two centenary goals” and steering Vietnam confidently into a new era.

The leader stressed that, to make a substantive contribution to national development, the industry and trade sector must also achieve double-digit growth, generate new jobs, strengthen traditional growth drivers such as export and consumption, and accelerate emerging engines of growth, including the green, digital, circular, knowledge-based and sharing economies.

He affirmed the Government’s commitment to accompanying the sector. He expressed confidence that in 2026, the industry and trade sector would generate strong momentum and make significant contributions to achieving double-digit economic growth and advancing Vietnam’s long-term development goals.

On the occasion, the PM also attended a ceremony announcing Vietnam’s 2025 trade results and honouring reputable import–export enterprises.

Source: VNA