A factory of the Hue Textile-Garment Joint Stock Company (Photo: VNA) Thua Thien-Hue (VNA) – The central province ofThua Thien-Hue aims to earn 800 million USD from exports in 2017, a year-on-yearincrease of 11.58 percent.
The locality will diversify export commoditiesand seek new markets to attain the target, according to Director of theprovincial Department of Industry and Trade Nguyen Thanh.
The province, which is part of the central keyeconomic region, will also press ahead with solutions to remove obstacles tobusiness growth, boost the export of processed and hi-tech products whilegradually reducing the proportion of unprocessed goods in the export structure.
It will also facilitate local exporters’ accessto credit sources and encourage them to manufacture products that Thua Thien-Huehas strength in.
In the textile and apparel field, which is a bigforeign currency earner, the province is going to call on businesses togradually switch to free-on-board (FOB) manufacturing instead of cut-make-trim(CMT), thereby improving export value and workers’ income, Thanh noted.
Thua Thien-Hue raked in 717 million USD fromexports in 2016, up 7.74 percent from the previous year. That consisted of 292million USD of overseas shipments by domestic companies and 424 million USDmade by foreign invested firms, respectively rising by 4.91 percent and 9.78percent from a year earlier.
Up to 65 percent of total shipments wascontributed by garment exports, which hit a record of over 465 million USD lastyear, up 8.98 percent from 2015. This result was attributable to productdiversification, increased FOB manufacturing, higher productivity, and betterproduct quality.
Meanwhile, fibre and textile exports broughthome 117 million USD, climbing 18.89 percent and making up 16.32 percent of theprovince’s total shipments.
Aquatic exports approximated 47 million USD lastyear, a year-on-year increase of 26.62 percent, datashows.-VNA
VNA
