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Hanoi targets 7.5-8 percent export growth in 2018

Hanoi has set a target of 7.5-8 percent in export growth in 2018 as compared to last year, which requires stronger efforts from both the industry-trade sector and businesses.
Hanoi targets 7.5-8 percent export growth in 2018 ảnh 1Illustrative image (Photo: VNA)

Hanoi (VNA) – Hanoihas set a target of 7.5-8 percent in export growth in 2018 as compared to lastyear, which requires stronger efforts from both the industry-trade sector and businesses.

The capital city raked in 1.04 billion USD fromexports in January, up 24 percent from the same period last year. 

The revenue included 139 million USD contributedby the State sector (up 9.8 percent), 352 million USD from the non-State sector(up 16.6 percent), and 556 million USD from FDI firms (up 33.6 percent),according to the municipal Department of Industry and Trade.

All key groups of commodities posted strongyear-on-year export growth in January such as agricultural products (13.6 percent),computer components and peripheral devices (68.1 percent), transport vehiclesand spare parts (12.7 percent), machinery and spare parts (21.8 percent), glassand glass products (25 percent).

However, the sale of agricultural products toChina is facing obstacles since this market is tightening plant quarantine. Ithas also encountered strict quality and food safety requirements from the US,the EU and Japan.

Meanwhile, Hanoi’s export still depends on FDIcompanies which dominate the production of processed and manufactured productswith high added value.

Nguyen Gia Phuong, Director of the HanoiInvestment, Trade and Tourism Promotion Agency, said to help businesses expandthe export market and advertise their products, the agency has continually organisedoverseas promotion campaigns, especially the countries that Vietnam has inkedfree trade agreements with.

It has also worked toreceive foreign business delegations so as to help local craft villages andcompanies to seek partners, he added.

Nguyen Thanh Hai, Deputy Director of themunicipal Department of Industry and Trade, noted the department and the HanoiPeople’s Committee will support enterprises in terms of access to loans andmarkets, increase trade promotion in such markets as Japan, China, Hong Kong(China), and Germany, help local companies to diversify export markets.

The department also plans to push ahead withadministrative reforms, abolish unnecessary business conditions, and improveonline public services, Hai said, adding that Hanoi will pay attention topromoting products’ competitiveness, investment effectiveness, and businesses’engagement in global value chains.-VNA
VNA
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