Top 10 events of Viet Nam’s industry and trade sector in 2022

1. Industrial production is expected to pick up 9 percent in 2022 and 61 out of 63 localities nationwide have achieved high increase in the index of industrial production (IIP) in comparison with the same period last year.

2. The value of exports and imports is forecast to reach US$732 billion in 2022, up 10 percent against the previous year, of which export value is estimated to reach US$371.5 billion. The nation may enjoy a trade surplus of US$11 billion in 2022, the 7th consecutive year the country gains trade surplus.

3. International economic integration has been enhanced intensively and substantively. Exports to markets signing new generation free trade agreements with Viet Nam increase by from 20-30 percent in 2022.

4.Viet Nam's e-commerce value is likely to reach US$16.4 billion in 2022, making up 7.5 percent of the nation's total retail sales of consumer goods and services. With the average growth of 20 percent per year, Viet Nam has been named among the top 5 fastest growing countries in the world by eMarketer.

5. The operation of Viet Nam's trade representative offices overseas has been renewed and improved, making active contributions to boosting economic growth and maintaining sustainable exports.

6. Trade defense measures have been carried out effectively to establish a fair and competitive environment and protect legitimate rights of domestic manufacturing industries. It is estimated that trade defense measures have guaranteed jobs for nearly 150,000 laborers.

7. Total revenues of goods retail sales and consumer service are predicted to increase by 21 percent compared to the previous year, to VND5.63 quadrillion (over US$239 billion) this year.

8.The nation has supplied sufficient electricity serving for production and people's lives nationwide, particularly during holidays and big events.

9.The Government issued Decree No. 96/2022/NĐ-CP defining the functions, tasks, powers and organizational structure of the Ministry of Industry and Trade.

10. The Petroleum Law (amended) was ratified at the 4^th sitting of the 15^th National Assembly, which is expected to create a favorable environment for attracting more investment in petroleum, contributing to the State budget, ensuring energy security and protecting Viet Nam's sea and island sovereignty./.