Economy

Export is Booming

WEDNESDAY, 27/01/2021 08:21:32

During recent years, the import-export business of Hai Duong province has continuously developed.

Green mung bean cake is one of the strongest export products of the province
 

Hai Duong has shifted from trade deficit to trade surplus with the volume of the following year being higher than that of the previous year. The import-export activities have positively contributed to the economic development of the province.

Sharp increase in value

As one of the 5 enterprises in the province having the largest export value in 2020, Regent Garment Company Limited in Nam Sach Industrial Zone always has the export turnover of the following year being higher than that of the previous year. In 2015, the company's export turnover reached over USD 337 million and continuously increased in the subsequent years. By 2019, the export turnover of this enterprise reached over USD 683 million. In 2019, the company was honored to be one of 28 garment enterprises in the country being awarded the prestigious export enterprise prize by Ministry of Industry and Trade. Every year, the company makes a great contribution to the provincial budget through payable taxes. Particularly in 2020, the company pays over VND 152 billion of taxes of all kinds, increasing by nearly 40% compared to 2019.
Huyndai Kefico Vietnam Co., Ltd is one of the few high-tech enterprises operating in Hai Duong. Over the past 5 years, the company's export revenue has continuously increased. In 2016, revenue from export activities of the company reached USD 200 million, and reached USD 343 million in 2020.

In 2020, over 90 enterprises applied for certificates of origin (C/O) from Hai Duong provincial Department of Industry and Trade, of which 25 are regular enterprises. By the end of 2020, Hai Duong Regional Import-Export Management Department issued 12,079 C/O with a value of over USD 1 billion. The major export items are garments, electronic components for manufacturing cars, motorcycles and cell phones. The main markets for which enterprises in Hai Duong applied for C/O include South Korea (accounting for 45%); ASEAN (accounting for over 20%); China (about 17%); The rest are Japan, India, Russia ...

According to the provincial Department of Statistics, due to the impact of the Covid-19 pandemic, the import-export business of Vietnam in general and of Hai Duong in particular encountered many difficulties due to the interruption of the supply of raw materials for production. Initially, the export value of goods in the province in 2020 was forecasted not to increase compared to 2019, but the actual results then proved the opposite. The export performance of the province in the second half of 2020 has a better prospect than other indicators. Continuously since June 2020, the export value has increased and increased sharper than the same period last year. The provincial export value in 2020 reached over USD 7.7 billion, increasing by 3.8% compared to 2019. In which, textiles and garments increase by 6%; footwear by 3.2%; electronic products and components by 3.1%; electric wires and cables increased by 8.3%.

Data from the provincial Department of Statistics shows that the export value of the province in the 2016-2020 period has increased by 12.5% per year on average (by 3.8% in 2020). In recent years, Hai Duong has shifted from trade deficit to trade surplus with the volume of the following year being higher than that of the previous year. The export value of goods of the province ranks 8th out of 63 provinces and cities in the country and ranks 4th out of 11 provinces in the Red River Delta.
Important mission

Import and export have significantly contributed to the socio-economic development of the province. This is also one of the results assessing the international integration of Hai Duong province. Therefore, from the beginning of the year, the provincial Steering Committee for International Integration and Commodity Export Strategy has developed a specific assignment plan for its members’ implementation.

In order to contribute to boost exports and enhance international integration, Hai Duong has focused on propaganda and communication; developed and completed institutions and implemented relevant policies; improved the competitiveness of the province and attached importance to developing synchronous elements of the market economy ...

Currently, Vietnam has joined many new-generation free trade agreements. These are opportunities for businesses of Vietnamese in general and of Hai Duong in particular to deeply participate in the global supply chain. In 2021, the provincial Steering Committee for International Integration and Commodity Import and Export Strategy determined that the implementation of international integration is an important task, contributing to the successful implementation of political tasks of the province. Thus, the Steering Committee continues to direct the international integration, the improvement of competitiveness; to create a favorable environment and motivation for the development of enterprises. To speed up investment promotion and trade promotion, strive for an increase of 15% or more of the value of exported goods.

According to Mr. Pham Thanh Hai, Director of the provincial Department of Industry and Trade, in order to meet the requirements of export goods to fastidious markets, besides the efforts of the authorities and the relevant agencies, enterprises should proactively raise their competitiveness and improve their product quality. "In the coming time, businesses should research and consider establishing large corporations or linking small scale companies to produce and export key products on a large production scale with high competitiveness, creating a stable and long term supply of goods for export. Enterprises need to access to information and perform the marketing via different channels to timely grasp the needs of market; follow up and approach the progress of production and business in the world; actively look for customers and export goods according to the needs and tastes of the market", said Mr. Hai.
 
LAN NGUYEN

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