Industry and Trade News November 7: New proposal on petroleum reserves

Import and export sector

Investment Newspaper reported: "Exports set new records, Vietnamese businesses affirm their resilience".

Continuously setting records in many fields, Vietnamese enterprises are demonstrating impressive resilience in export activities. This positive result not only expands the scale of trade, but also strengthens Vietnam's position in the global supply chain.

Along with agricultural products, electronics and high-tech enterprises are becoming key drivers of export growth and a “pillar” in the global value chain. Thanks to high-tech FDI capital flows and expanded production capacity, Vietnam has become an important link in the world electronics supply chain, and emerged as a leading assembly center in Southeast Asia.

However, in the short term, exports of some product groups show signs of slowing down due to order adjustments and tariff fluctuations. The computer and electronics group, which maintained sales of more than ten billion USD/month, decreased to nearly nine billion USD in October. However, experts are still optimistic that the last two months of the year can bring in tens of billions of USD, bringing the total export turnover for the year close to 100 billion USD.

Energy sector

Today's News newspaper on November 7 published the information: "Urgently fix power problems after storm No. 13".

Due to the impact of storm No. 13 causing heavy rain and strong winds over a wide area, many areas in the Central region have experienced serious power grid problems, causing more than 1.6 million customers to lose power.

Immediately after the storm weakened, EVNCPC directed its affiliated Power Companies to mobilize all shock forces, coordinate with local authorities, focus on troubleshooting, isolate damaged points and restore power to priority loads such as hospitals, disaster prevention command agencies, communications, domestic water supply, etc. The Corporation said it is continuing to mobilize human resources and materials from less affected areas to support heavily damaged areas, striving to restore power supply as soon as possible, ensuring absolute safety for people and equipment.

Construction Newspaper published the content: "New proposal on petroleum reserves".

The Ministry of Industry and Trade has just submitted to the National Assembly a draft Resolution on mechanisms and policies to remove difficulties and promote national energy development in the 2026-2030 period. One of the key contents mentioned is to handle shortcomings in petroleum reserves - an area that has revealed many problems since the Law on National Reserves was issued.

*Currently, Vietnam does not have its own state-owned petroleum reserve, mainly renting from key enterprises (Illustration photo).*

The Ministry has reported to the Government many times, proposing solutions to resolve the issue, but there are still problems because some contents are under the authority of the National Assembly . Specifically, Article 51 of the Law on National Reserves stipulates that reserve goods must be "stored separately", but this regulation is showing limitations when applied to petroleum products.

The Ministry of Industry and Trade pointed out that the separate auction-bidding mechanism easily leads to the risk of price differences, causing budget losses or disrupting reserve sources. In fact, since the Law on National Reserves came into effect, there has never been a successful auction of national reserve petroleum.

Therefore, the Ministry recommends adding a "flexible commodity exchange" mechanism to convert petroleum types, ensuring safety, continuity and efficiency in reserve management.

In addition to the traditional buying and selling method, the Ministry also proposed allowing the conversion of national reserve petroleum types through direct exchange, instead of auction.

Domestic market sector

Tuoi Tre Newspaper reported: " Supermarkets increase support for the South Central region, committed to providing enough supply at good prices."

Faced with the complicated developments of storm Kalmaegi (storm No. 13), many retail systems have urgently activated emergency response plans across the system, increased the supply of goods and offered promotions to support shopping, especially in the South Central region.

Meanwhile, in Ho Chi Minh City, although not in the eye of the storm, due to the impact of the storm combined with high tides, many people have proactively shopped more to stock up. However, according to records at supermarkets and retail markets, basic supplies are still abundant.

E-commerce sector

Investment Newspaper has an article : "Cross-border e-commerce: New driving force for Vietnamese businesses".

Cross-border e-commerce is no longer a strange concept, but is becoming an important growth channel for Vietnamese enterprises. Along with strong FDI inflows into ASEAN and the shift in global supply chains, these are considered three key drivers for growth in the coming period.

From a management perspective, Mr. Nguyen Thanh Duong, Deputy Head of the Department of Trade Promotion Capacity Development (Trade Promotion Agency, Ministry of Industry and Trade) said that the Agency is coordinating with major platforms such as Alibaba, Amazon, TikTok to deploy the National Pavilion, supporting enterprises to export directly. Preliminary results show that more than 50% of participating enterprises have received orders, with an average value of tens of thousands of USD.

However, Mr. Duong also noted that the digital capacity of many Vietnamese businesses is still limited, from operating booths, cross-border logistics to meeting strict requirements on traceability, environment, and labor. Therefore, according to him, businesses need to invest systematically instead of just relying on the advantage of low prices.

Source: https://congthuong.vn/tin-cong-thuong-7-11-de-xuat-moi-ve-du-tru-xang-dau-429465.html