Vietnam Aims for US$12Bln in Service Exports in 2010
The fast-growing country of Vietnam is striving to pull in US$12 billion from service exports in 2010, according to a 2006-2010 export development plan approved recently by the Government.
Under the plan, the country aims to achieve an annual growth rate of 16.5 per cent for service exports during the period.
In recent years, the service sector has made a considerable contribution to Vietnam’s export revenues. Software, legal consultancy, construction, business consultancy, freight and forwarding are among potential export products.
According to the General Statistics Office (GSO), service export revenue in the first half of this year increased by 20 per cent on-year. Despite fears of a trade deficit, the service exports reached $2.53 billion during the time, nearly equivalent to the spending for service imports.
Currently, the service sector accounts for between 30-40 per cent of the country’s GDP. This year, the country aims to reap $6.2-6.7 billion from service exports, up 10 per cent against 2005.
VOV, Vietnam Economic Times
Vietnamese
