Local Economy

Last updated: Wednesday, January 23, 2019


Expanding and Diversifying Export Markets

Posted: Thursday, May 17, 2018

Despite being affected by Typhoon Damrey in early November 2017, Khanh Hoa province’s industrial production still grew well. The success of the industry and trade sector reaffirmed its position in the region and in the country. Particularly in this work, the sector has ensured the high quality and sustainability of trade and service development.

In 2017, the industry and trade sector of Khanh Hoa province was successful in all aspects. The manufacturing and processing sector accounted for over 90 per cent of total industrial production value. Some sectors occupy high shares such as food production and processing, tobacco production and shipbuilding. Notably, the seafood processing sector earned US$538 million from exports, up 18.5 per cent year on year.

Total retail value of goods and services was estimated at VND84.4 trillion, up 15.1 per cent from a year earlier. “Moreover, in the past year, the province had over 130 exporters which shipped their commodities to 113 countries and territories in the world. Exports valued at US$1.2 billion and exports reached US$680 million. In addition, the face of commercial infrastructure has developed remarkably, paving the way for modern services,” said Tran Van Ngoan, Deputy Director of Khanh Hoa Department of Industry and Trade.

To achieve the above important progress, the sector always focused on administrative reform to support and facilitate enterprises and investors to have more opportunities of production and business and bring their projects into operation. Trade promotion and business support towards introducing local products to foreign consumers were also emphasised. “The sector always utilises Vietnam’s advantages in its signed trade agreements to seek more customers and develop export markets, and cooperates with other localities in key central and southern regions. The sector focused every activity on expanding and diversifying export markets and developing both traditional markets and new potential markets,” he said. Not only that, the province also invested in e-commerce development, branding, product and service introduction to customers. At the same time, the province also aimed to expand connectivity with prestigious domestic and international e-commerce websites, expand markets and improve business performance. (In 2017, the e-commerce index of Khanh Hoa reached 34.6 points, ranking 10th among 54 provinces and cities surveyed, according to the report on Vietnam Ecommerce Index 2017.)

Certainly, making full use of advantages and effective policies will be an important task for the Khanh Hoa industry and trade sector to achieve more success in 2018 and beyond. The sector targets industrial growth of 7.6 per cent, retail growth of 15 per cent, import growth of 6.4 per cent, and export growth of 11.9 per cent a year to 2020. Ngoan said that the sector will focus and give priority to developing industries with high value added products, high knowledge content and localisation. The province will bring key industries to three key areas: northern area, Nha Trang - Dien Khanh, and southern area (Cam Ranh Town). It will aim to build infrastructure and fill the rent-able area in industrial parks; construct commercial service infrastructure to develop commodity distribution and purchase channels where Nha Trang City, Cam Ranh Town and Van Phong Economic Zone play a central role to their surrounding districts and provinces.
“Every effort for better sector structure must always be consistent with local potential and advantages. But, the key factor is the sector will always listen and timely respond to difficulties and obstacles against enterprises by speeding up industrial expansion programmes in order to apply advanced machinery and equipment, new technologies to make new products, enhance competitiveness and governance. In the coming time, the sector will strengthen its management capacity, organisational structure and e-commerce development,” he emphasised.

Le Diem

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