Sun, 02 Apr 2023

HANOI, Feb. 1 (Xinhua) -- Rising inflation, energy shortages and disruptions of raw material supply chains in many countries will result in a decline in orders, leaving a negative impact on Vietnam's economy, local media reported on Wednesday.

Given the difficulties, the Ministry of Industry and Trade will devise measures to help enterprises expand their shares in foreign markets and facilitate the connection between businesses and localities, Vietnam News Agency reported, citing Vu Ba Phu, head of the Trade Promotion Agency under the ministry.

According to Minister of Industry and Trade Nguyen Hong Dien, it is important for export enterprises to remain updated with latest information about the global demand in order to adjust their production activities.

He noted that Vietnamese trade offices abroad play a vital role in collecting market information and providing it for enterprises, associations and localities.

Last year, Vietnam posted a foreign trade record of 732.5 billion U.S. dollars, up 9.5 percent year on year, with a trade surplus of 11.2 billion dollars, official data showed.

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