The province’s export turnover in the first eight months of 2014 was estimated at nearly US$9.4bln. Of the total figure, nearly VND1.5bln came from province-based domestic enterprises, accounting for nearly 16% of total and increasing by 3.7% compared to the corresponding period last year.
It is expected that the province’s domestic investment sector will further reach a growth for the remaining 4 months of the year as many enterprises in the bloc have reached export orders till the end of 2014 and till 2015.
Stable export
Binh Duong Garment One-Member Co.Ltd. has set a target of reaching US$52mln in 2014’s total export turnover. The company’s export turnover in the first eight months of the year was estimated at US$36mln. Nguyen Hong Anh, Director of the company’s Personnel Department said that the company’s export activities remained stable over the past eight months.
Over the past eight months, the province’s leather shoe sector also took fruits in export. Many enterprises in the sector reached a growth of more than 15% in quantity compared to last year’s same period. Nguyen Duc Thuan, CEO of Thai Binh Investment Joint Stock Company said that Vietnam’s leather shoe export has been very good with a lot of orders. The company’s export activities over the past eight months reached a stable growth. It is expected to export more than 21 mln pairs of shoes and 6.5 mln bags in 2014.
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Garment and textile products being manufactured at Binh Duong Garment One-Member Co.Ltd.
In some new export products, many domestic enterprises have initially reached positive results in export turnover. Minh Dung Veterinary - Aquaculture Medicine Company has set a target of getting more than US$2mln in export turnover. The company’s export turnover over the past eight months was estimated at more than US$1.5mln. The result will help the company soon fulfill its target on export turnover this year.
Vu Thi Ngoc Trinh, CEO of the company said that export turnover has only accounted for 20% of the company’s total turnover, but the company has seen this as a pride and success of Vietnamese products in the process of market expansion.
Auxiliary industry on strong growth
FDI enterprises have still accounted for a large proportion in the current balance of export. To enhance their competitive ability, domestic enterprises wanted that domestic auxiliary industry would grow up and the local functional agencies must map out orientations to effectively promote this industry.
According to Mr.Anh, 70%-80% of the company’s production materials must be imported. To increase the localization rate and competitive ability of this sector, the local functional agencies need to encourage enterprises to make investment in auxiliary industry while putting forward proper orientations for the development of the industry…
To wait in front for the Trans Pacific Strategic Economic Partnership Agreement (TPP), many FDI enterprises, specializing in supplying production materials, will make investment in Vietnam, thereby helping domestic ones take initiative in terms of production materials and contributing to reducing trade gap.
Also according to Mr.Anh, the birth of auxiliary industrial parks is needed to help domestic enterprises catch investment opportunities and improve their competitive ability. Some measures also need to be taken to help domestic enterprises get better development, including improving their production technologies; reducing logistic costs to enhance their competitive ability…
Reported by T.Minh-Translated by K.T
