Businesses should work out measures to reduce input prices, solve the shortages of skilled labour and production materials as well as boost exports in the remaining months of the year.

Minister of Industry and Trade Vu Huy Hoang made the request at an online meeting on the country’s production in Hanoi on September 6.

According to the ministry’s report, the country’s export turnover in the first eight months of the year reached 44.5 billion USD, up 20 percent over the same period of last year while the import value was still high, with trade deficit standing at 8.16 billion USD, a year-on-year increase of 3 billion USD - and expected to increase to 13.6 billion USD by the end of the year.

At the meeting, the representatives pointed out that dependence on import materials affects the price of export products, and products can also become subject to trade barriers from other countries.

The ministry also urged businesses to use domestic equipment, step up the construction of electrical works, stabilise prices of domestic products and carry out promotion programmes in domestic markets.