Can Tho City Gradually Adding More Key Export Items

5:13:01 PM | 6/8/2009

The export activities have considerably contributed to Can Tho city’s economic development, fostering industries and creating more jobs. These activities have also brought Can Tho into the group of the top 10 high-export revenue cities and provinces nationwide. 
Maintaining growth speed
In 2008, Can Tho City’s export revenue reached $835 million, up 47.4% on-year, in which the direct export accounted for over 80%. The Asian market share is the highest with over 55% with main importers of Japan, Korean, China, and Taiwan. America and Europe are also its potential markets.
When considering the above mentioned figures, Can Tho export in 2008 was quite good. Exporting revenue and foreign currency service revenue surpassed the year’s targets and were high in comparison with the previous years. The key contributions were the exportation of rice and aqua products that made up for 87% of the total export revenue. Regarding rice, Can Tho has processing lines and gathers many rice trading firms. The city has been the leading rice exporting province in Mekong Delta for years. In 2008, Can Tho exported 420,000 tonnes of rice valued at $236 million. Can Tho rice products are highly appreciated by many nations worldwide. Rice of Can Tho is exported to over 20 countries annually, mainly to Asian and African nations.
For aqua products, Can Tho boasts great opportunities for fishery development. The fast development of breeding technical and biological technologies of genetics, breed selection, pathology and biological products, aqua product exploitation and processing have been supporting the rapid growth in the aqua industry.
At present, Can Tho has 18 enterprises producing, processing and exporting aqua products with modern technology and the international food safety hygiene standards. In 2008, Can Tho exported 80,000 tonnes of aqua products valued at $ 492 million.
Since the beginning of 2009, the city has been facing a lot of challenges that have resulted from the world economic crisis. The city has so far this year earned export and foreign currency service revenue of $360.5 million, down 0.9% on-year and completing 39% of the full-year target. Of the sum, goods exports were valued at $364.9 million, down 0.8% on-year and fulfilling 38.6% of the full-year target while foreign currency services reached revenue of $11.8 million, down 20% on-year.
Focusing on difficulties settlement
According to estimations, enterprises have had access to capital of the government’s demand stimulus package and productions are recovering. The industry and trade sector has been joining hands with enterprises to deal with difficulties in order to increase exports and look for new markets. Can Tho will take drastic measures to achieve its annual targets in the second half of this year, including export and foreign currency service revenue of $929 million, up 7.6% on year. Of the sum, export revenue will reach $900 million, up 7.6% on-year and foreign currency service revenue will hit $29 million, up 6.6 on-year. Regarding key exporting items, the city expects to export 530 tonnes of rice worth $313 million, 166,000 tonnes of aqua products valued at $453 million, etc. To achieve the aforementioned targets, the city will actively widen its exporting markets, diversify relations with domestic and international customers as well as look for more opportunities to export goods to new and potential markets in order to limit the risks upon the market fluctuations.