January’s export revenues are estimated at about US$6.5 billion, a 28.5 drop from the previous month. The figure for imports stood at US$6.6 billion, meaning the trade deficit fell from US$270 million in December 2011 to about US$100 million this month.

As this year’s Tet (Lunar New Year) holiday is prolonged, the time for customs clearances was actually only 15 days, a much period shorter than in previous months, which resulted in a sharp drop in trade revenues, said Le Thi Minh Thuy, an official from the GSO.

However, these strong declines were found mainly in Vietnam’s major export sectors such as garments and textiles, seafood, electronics, computers and spare parts, rubber, timber and wooden furniture.

Meanwhile, imports that recorded a drop in revenues included transport, spare parts, and animal and plant oils.

PM urges accelerating enterprise restructuring

Prime Minister Nguyen Tan Dung has asked for plans to reform, restructure and equitize State-owned enterprises (SOEs) to be approved.

The PM sent his instruction to ministries, ministerial agencies, Government subsidiaries, People’s Committees, economic groups, and State corporations, urging them to step up the restructuring of SOEs.

The ministries managing economic groups and Corporation 91 must submit their restructuring plans to the Prime Minister in the first quarter of 2012.

PM Dung requested that the focus of their plan should be on major sectors and duties in line with the development strategy for the 2011-2015 period, with a vision for 2020.