HCM City (VNA) – The southeast key economic region has maintained its role as the economic engine of the country with impressive economic indicators recorded in all regional localities so far this year, especially in exports.
The Department of Industry and Trade of Binh Duong, an industrial hub in the south, reported that in the first five months of 2024, the locality earned nearly 13.8 billion USD from exports, up 13% year on year.
Meanwhile, the Statistics Office of Dong Nai province said that in the Jan-May period, local firms exported nearly 9.3 billion USD worth of goods, and imported 6.45 billion USD worth of products, resulting in a trade surplus of more than 2.8 billion USD.
In Ho Chi Minh City, Chairman of the city Union of Business Association (HUBA) Nguyen Ngoc Hoa said that many local firms have received orders for the third quarter.
Thanks to efforts of the business community and support policies from the municipal administration, the southern economic hub has been a leading locality in import-export revenue over the years.
In 2023, the city reported an import-export value of 55.3 billion USD. In the first five months of 2024, the figure continued to expand despite fluctuations in the world market, with a rise seen in export value of many major products.
Director of the Binh Duong Department of Industry and Trade Nguyen Thanh Toan said that in order to support businesses in promoting exports, in the rest of the year, the department will continue working closely with the Ministry of Industry and Trade and the Vietnam Trade Offices abroad to provide helpful information to businesses and trade associations, especially on the demand of export markets.
Binh Duong will assist local firms to make full use of free trade agreements that Vietnam has signed, and strengthen investment and trade promotion activities, while speeding up administrative reform and supporting exporters in customs clearance, he said.
Meanwhile, Vice Chairman of the People’s Committee of HCM City Nguyen Van Dung said that the city will direct relevant agencies to look into difficulties that local firms are facing so as to provide support measures, helping them expand markets and engage deeply into international goods supply chains.This year, HCM City aims for a year-on-year growth of 6.5% in industrial production index, and 10% rise in export turnover./.
Ample room for Vietnam to bolster exports in H2: Insiders
Vietnamese exports have ample room to grow in the second half of this year since their large markets such as the US and the UK are expected to cut interest rates which will a boost to economic expansion and consumption, according to experts.
