Can Tho City: Commercial Centre of Mekong Delta

 

One of the biggest successes of Can Tho City’s commercial sector was to host the first conference and workshop on the trading development in Mekong Delta region. The conference proclaimed the need to set up close economic ties, especially commercial relations, among regional localities. Besides, the commercial sector and enterprises also organised seminars on promoting trade and seeking measures to speed up exports to such key markets as the US, Japan, the EU, China and South Korea. Trade promotion activities of Can Tho City have brought in remarkable successes. In 2004, the Can Tho City Department of Trade supported certain fees for enterprises which attended several trade fairs and joined market researches, notably China’s Kunming Trade Fair, Cambodia Trade Fair, Vietnam High Quality Goods Trade Fair in An Giang Province, Trade Fair on Vietnam-Asia-Europe Cooperation and Development in Ho Chi Minh City and Can Tho International Trade Fair. Meanwhile, the sector also cooperated with the High Quality Vietnamese Goods Club to open the High Quality Vietnamese Goods Trade Fair in city and joined hands with the Asia Magazine and Vietnamese chambers of commerce abroad to advertise trademarks of local enterprises overseas. Aside from trade promotion activities, the sector has also mapped out market, commercial centre and supermarket systems with much importance attached to long-term development, safety and aesthetics. The sector has invested in many large-scale projects like a regional rice market in Thot Not District and a fishery wholesales market and a farm produce market. The rice market project in Thot Not has received VND10 billion (US$625,000) from the Government’s fund while other markets in the city will be funded at over VND30 billion (US$1.88 million) for upgrade and repair in 2004-2005. Several supermarkets have seen investments of up to VND350 billion (US$21.88 million), including Citimart, Co-op Mart Can Tho and Metro-Hung Loi Can Tho. These projects have reaffirmed the strong development of commerce in the city.

 

These new projects have helped raise the city’s retail revenues to VND19,300 billion (US$1.21 billion) in 2004 and to VND9,393 billion (US$587.1 million) in the first half of 2005 while its export and service value also jumped to US$321 million in 2004 and US$154 million in the first half of 2005. The city spent US$230 million on imports in 2004 and US$90 million in the first half of 2005, with major imported items being steel, petroleum products, fertilisers, medicines, chemicals and cloths. The development of the commercial sector in the city has received considerable contributions from the growth of several outstanding enterprises like Thot Not General Trade and Food Processing Co. (Centraco), Red Flag Farm, Farm Products and Foodstuff Export Co., Can Tho Animal and Farm Products Co. (Cataco), Mekong Co. and Tay Do Garment Co.

 

In the coming years, the Can Tho commercial sector will continue to develop both local and domestic markets by improving product quality, diversifying products, developing e-commerce, boosting trade promotion, helping enterprises advertise trademarks and seek markets.

 

In the local market, Can Tho will develop four focal commercial centres in Ninh Kieu, Cai Rang, Binh Thuy and Thot Not districts, speed up construction of regional rice markets, fishery markets, farm produce markets, supermarket system, commercial centres and transhipment warehouse system for ports to increase import, export and production in Mekong Delta region.

 

As regards foreign markets, the sector will urge enterprises to sharpen their competitive edge. In coming years, key exports of Can Tho City are rice, aquatic products, processed farm produces, garments, footwear and fine arts works while its major markets are Japan, South Korea, China, the US and the EU. In the meantime, the city will continue to import machinery, material and advanced technologies to speed up the development of the industry.

 

The sector will also intensify trade promotion activities to seek more markets. It will cooperate with the Ministry of Trade to set up regional commercial centres and e-commerce floor to increase trading ties with regional and international countries. Ms Le Thi Thanh Van, directress of Can Tho Department of Trade, said, the commercial sector, from now on, will fortify development cooperation with Ho Chi Minh City, regional and national provinces and cities. Can Tho City will focus on ties with Ho Chi Minh City because the latter is an economic hub and has great potentials in capital, science, IT, import and export. In the near future, Can Tho City is sure to become an economic city and a commercial hub in Mekong Delta region, Van confirmed.