Boosting Export Capacity

By promoting internal force and strengthening the spirit of solidarity for overcoming difficulties of local companies, the province’s industrial production, commerce and service made high year-on-year growth in 2010, with most targets being reached or outperformed. Industrial production value exceeded VND7,475 billion, up 14.85 percent from 2009; the total flow of goods and service retail surpassed VND21,753 billion, up 41.29 percent year on year. Impressively, exports were approximately US$432 million in 2010, up 30.22 percent against a year ago. In Soc Trang, four seafood exporters raked in huge export turnover to stand in the Top 10 list.

 

Defining the key goal of 2011 as socioeconomic development and economic restructuring, the trade and industry sector of Soc Trang province set targets to bring industrial production value to VND8,000 billion, total retail and service revenues to VND35,000 billion, and export turnover to US$450 - 530 million.

 

Mr Nguyen Van Ngung, Director of the Soc Trang Department of Industry and Trade, said: In the past years, including the first months of 2011, the export turnover of the province increased relatively rapidly, mainly driven by seafood exporters. To rake in US$450 - 530 million export turnover in 2011, the trade and industry sector will, on the one hand, actively coordinate with competent authorities to monitor the operations of local companies, especially seafood and rice exporters, to help them deal with difficulties and propose business-supporting measures to provincial and central authorities. On the other hand, the sector has submitted the overseas market trade promotion programme to the Provincial People’s Committee for approval. Accordingly, the Soc Trang Trade Promotion Centre will regularly support local companies to access information sources and deal with procedures for participation in seafood agricultural trade fairs in foreign markets. The centre plans to hold a market introduction seminar, open an e-commerce training course, and an import, export and marketing skills training course for local exporters to enhance their capacity.

 

With respect to rice export, Soc Trang province is now home to three rice exporters but the Soc Trang Food Company is the primary component as the other two have limited capacity. To boost rice export in 2011, in addition to some general measures, the industry and trade sector will ask the Provincial People's Committee to hold talks with the Vietnam Food Association (VFA) to increase the annual export target. At the same time, it will join forces with provincial and district authorities to speed up construction of rice processing and warehousing facilities in Nga Nam and Long Phu districts to gradually increase rice export capacity.

 

Together with its efforts to increase export capacity, in 2011, the industry and trade sector will also try to promote trade exchange with other provinces and cities, and expand markets for its key products.