In 2014, Binh Duong province’s export industry continued reaching a growth that was higher than the country’s export growth. This is of great significance for Binh Duong’s economic development and creates a premise for the province to successfully realize 2015’s export plan.
Dairy products being processed at Vietnam Dairy Products Joint Stock Company (Vinamilk)’s factory at VSIP 1
Reportedly, the province’s export turnover in 2014 was estimated at more than VND17.74bln, up 17.5% against 2013 and beyond 1% compared to the yearly plan. Of these, the foreign investment sector grew by 17.4% or 83% of total. There were 17 out of 18 key export industries with export turnover growth compared to 2013. Among them, 12 with the growth of over 10% included footwear, garment-textile, furniture, electronics and steel.
Leaders of provincial Department of Industry and Trade said that the province’s export activities in 2014 enjoyed advantages as there was a stability in terms of imported materials price and workforce. Besides, there were signs of recovery from main export markets plus the positive effects from the Trans-Pacific Strategic Economic Partnership Agreement (TPP) negotiations.
According to provincial People’s Committee, the above result came from the efforts by the Government, provincial Party Committee, People’s Council and People’s Committee in putting forward proper measures; giving timely support for enterprises, helping them remove difficulties and promote their production and business. Province-based enterprises also made efforts in developing their distribution systems, researching export products with high added value…
Vo Van Cu, Director of provincial Department of Industry and Trade said that Binh Duong ranked third among the country’s 10 provinces and cities with high export turnover in 2014.
In 2014, export market continued being expanded, which was one of advantages for province-based exporters. Asian market grew by 50% compared to 2013; the U.S by 24%; EU by 11.2%...Many new export markets like Chile, South Africa, UAE…were also developed, opening up prospects for province-based exporters.
Despite difficulties in 2014, the province’s export activities still gained considerable results. Upon these, according to Mr.Cu, the local export activities in 2015 will further reach a stable growth, ensuring completion of the local target of reaching a 16.5% growth in export turnover.
The province’s import value in 2014 was also estimated at more than US$13.73bln, a year-on-year increase of 17.7%. Main imported products were still materials, machines and equipment. In general, the province’s trade surplus in 2014 reached more than US$4bln.
Reported by T.Minh-Translated by K.T
