HCMC – The Ministry of Industry and Trade (MOIT) will continue trade negotiations with the U.S. to secure the most favorable commitments and closely monitor U.S. implementation to propose timely responses, according to the ministry’s official portal.
Minister of Industry and Trade Nguyen Hong Dien has approved an action plan to implement Resolution 226, which targets national economic growth of 8.3-8.5% this year.
The Multilateral Trade Policy Department, Foreign Market Development Department, Import-Export Department, and Trade Promotion Agency have been tasked with advancing talks toward a comprehensive trade agreement with the U.S. and fostering a balanced, sustainable economic relationship.
These units will also accelerate the execution of signed agreements, track negotiation developments, and assess U.S. compliance.
The ministry will broaden trade negotiations with other markets, aiming to sign and implement new free trade agreements (FTAs), including memoranda of understanding and rice trade pacts with Brazil, the Philippines, Malaysia, and Indonesia. Efforts will also focus on strengthening origin fraud checks, maximizing existing FTAs, and expediting new FTA signings.
In the energy sector, the Electricity Regulatory Authority, Domestic Market Department, and Oil, Gas, and Coal Department are instructed to ensure energy and fuel supply balance, boost hydropower output during the rainy season, secure electricity for peak summer demand, and speed up major power generation and grid projects.
The ministry plans to revise regulations on direct power purchases between producers and large consumers, promote rooftop solar for self-consumption, and issue carbon emission standards as part of developing a domestic carbon market aligned with Vietnam’s Net Zero target for 2050.
To stimulate domestic consumption, MOIT will intensify trade promotion, expand goods distribution via digital platforms, target e-commerce growth of over 25%, implement the “Vietnamese people prioritize Vietnamese goods” campaign, and step up efforts to combat smuggling, trade fraud, and counterfeit goods.
