Export Value Keeps Growing

In the last months of 2019, the export value of Vinh Phuc province continued to grow as local businesses have been actively accessing new markets and taking advantage of opportunities from the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

Currently, Vinh Phuc province has more than 200 exporters who ship their products to more than 40 countries and territories in the world, largely focusing on the United States, the European Union (EU), Russia, ASEAN, Japan, China, Taiwan and South Korea. Since the beginning of this year, the province’s exportation has prospered, with FDI companies earning more than US$2.6 billion, up over 9% year on year; and DDI companies fetching nearly VND40 billion (US$1.7 million), up 47% year on year. Some sectors achieved high export value, led by the automobile and motorcycle industry which rose 36%; automobile and motorcycle supporting industries which climbed 54%; and electricity and electronics supporting industries which added 5%.

To help local businesses grasp benefits from CPTPP, Vinh Phuc has introduced many support policies and solved various difficulties against businesses. Especially, from April 2019, the Vinh Phuc Provincial People’s Committee issued a plan to implement the CPTPP Agreement in the province.

D.A (Vietnam Business Forum)