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Oct 11, 2017 / 12:46

Significant progresses in Hanoi export

Despite the value of Hanoi export in the first 9 months has reached nearly 8.6 billion USD, up 7% compared to the same period of 2016, but the number is still lower than the target number of 2017 of 11.1 billion USD, which requires more efforts from the city and enterprises in the remaining months.

According to the Hanoi Department of Industry & Trade, the value of export in September reached 969 million USD, reduced 1.3% compared to August. Despite a slightly decrease, the accumulated value of export in the first 9 months reached 8.6 billion USD, up 8.7% compared to the same period of 2016. In the recent 9 months, some products have increased in export compared to the same period of last year, including: computers and related components and products increased 19.3%; Equipment and accessories up 24.1%; Agricultural products up 8.9%; Transport vehicles and accessories up 32.1%; Electronic products up 41.1%; shoes and leather products up 7.7%; traditional craft products up 13.4%. 

The value of Hanoi export in recent times has increased significantly, showing that enterprises have taken advantage of the recovery of major economies in the world, such as the US, Japan, European Union (EU) and China. At the same time, the stable exchange rate between Vietnam and the USD, while the value of VND currency has appreciated compared to other currencies are reasons to stimulate the export. Most importantly, Hanoi has implemented supporting measures for export enterprises through the programs connecting banking – enterprises and other policies related to taxes, lands, encouraging enterprises applying high technologies, supporting industries, manufacturing, processing and agricultural products consumption. In particular, the Hanoi People’s Committee has issued the plan No. 89/KH-UBND including 10 solutions to support enterprises overcoming difficulties, maintaining and expanding the export markets. 

Director of Hanoi Promotion Agency (HPA) Nguyen Gia Phuong said: in order to support enterprises to expand export market, promoting products and brands, HPA has continuously held promotional events abroad through participating in large scale international trade fair. In which, HPA pays special attention to markets which has had free trade agreements (FTA) with Vietnam. At the same time, HPA also organized events to receive international enterprises to work at Hanoi, with a view to support traditional craft villages, and agricultural enterprises to look for distribution channels.

Despite Hanoi has achieved significant growth in export, but in order for the export to meet the target value of 11.1 billion USD, is to require more efforts from the city and enterprises in the remaining months. Besides, agricultural products from Hanoi and Vietnam have not had their own brands to position in the world market, while the quality is still inconsistent. Rice product contributes to nearly 2.5% of the Hanoi export, but with fierce competition from Cambodia and Thailand, the export value has been decreased recently.

Reality shows, if enterprises can take advantages of the FTA between Vietnam and major markets such as Korea, EU, the Eurasian Economic Union (EAEU), export will have more potential to grow. As such, it would require enterprises to focus on the strength of Vietnam on particular fields to compete with competitors in the world market. 

In the coming time, the Hanoi Department of Industry & Trade and the Hanoi People’s Committee will continue supporting enterprises to look for loan and new market. Specifically, the Department will increase trade promotion at Japan, China, Hong Kong and Germany. However, in addition to the support from local government, enterprises need to be active in enhancing productivity, quality and developing brands to meet the high demand in the context of global economic integration.