South-eastern provinces enjoy high growth, trade surplus
Binh Duong (VNA) – Vietnam’s south-eastern
provinces have reported not only high economic growth in 2018 but also a trade
surplus.
According to figures released by the provincial
Binh Duong People’s Committee, the province had a trade surplus of over 4.8 billion
USD this year, 100 million USD higher than the number last year.
Twenty-seven industrial parks in the province
contributed significantly to this achievement. They had total revenues of 28.5
billion USD and attracted foreign investment of nearly 1.4 billion USD and
domestic investment of 5.2 trillion VND (224 million USD) this year.
Binh Duong’s major exports include wood and wooden
products, footwear, rubber, and lacquerware.
Dien Quang Hiep, chairman of the Binh Duong
Furniture Association (BIFA), said wood and furniture businesses in Binh Duong
have benefited greatly from integration into the global community and the province’s
skilled labour. They have also been supported by the policies issued by
authorities, he said.
Prime Minister Nguyen Xuan Phuc has set a target
of over 10 billion USD for the country’s wood exports in 2019, he added.
This year, Ba Ria – Vung Tau province’s economy is
expected to grow by 6.43 per cent to over 76.7 trillion VND (3.3 billion USD).
Provincial authorities have identified industry,
ports, logistics, tourism, and agriculture as the spearheads of Ba Ria – Vung Tau’s
economic development.
Their development is expected to help the economy
become less dependent on the oil and gas sector.
Dong Nai province is estimated to achieve exports
of 18.6 billion USD, an 11.7 percent increase over last year, and a trade
surplus of over 2.6 billion USD in 2018.
During the year the province had licensed 106
foreign projects with a total registered capital of 980 million USD, taking the
FDI to date to more than 1.8 billion USD.
According to local authorities, from having a
trade deficit until 2013, the province turned its balance of trade into a
surplus of 625 million USD in 2014.
Tran Van Vinh, Vice Chairman of the provincial
People’s Committee, said with sufficient supply of raw materials, Dong Nai’s
exports and trade surplus would further increase in the coming years.
Dong Nai will continue to support and prioritise efforts to promote the use of local inputs and meet the criteria set by the free trade agreements, he added.-VNA