Ho Chi Minh City is likely to achieve export value of 35.2 billion USD this year, a 15.1 percent increase from last year, and imports of 43.1 billion USD, a 13.2 percent rise.
The city accounts for 72 percent of the Southern Key Economic Zone’s total imports and exports and 19.4 percent of Vietnam’s.
An import-export gateway for the southern region, a lot of the city’s imports make their way to neighbouring provinces such as Dong Nai, Binh Duong and Long An, often to serve production for exports.
The provinces enjoy large trade surpluses – Binh Duong 4 billion USD; Dong Nai 2 billion USD; Long An 500 million USD.
Pham Thanh Kien, head of the Department of Trade and Industry, said his department is boosting trade promotion in key markets that buy more than 1 billion USD worth of goods such as mainland China, Singapore, Taiwan, Thailand, and the Republic of Korea to reduce the trade deficit.
It is developing a plan to enhance exports in 2017-2020, he said.
The plan would guide policy making for increasing export of high value-added items like computers and parts, software and digital products.
Photo: CBR Investment AG