Vietnam likely to surpass export target
Vietnam is expected to see an export turnover of 131 billion USD this year, representing a 14 percent increase from 2012.
Vietnam is expected to see an export turnover of 131 billion USD this year, representing a 14 percent increase from 2012.
According to forecast by the Ministry of Industry and Trade (MoIT), turnover would be four percent higher than the target set by the National Assembly earlier this year.
Its figures revealed that in the first nine months of the year, Vietnam's export turnover was 96.46 billion USD, a 17.5 percent rise over the same period last year.
The processing industry accounted for 69.7 percent of the total, with turnover of 67.24 billion USD, representing 26.4 percent year-on-year increase.
Head of the ministry's Planning Department Nguyen Tien Vy said the industry was the standout performer in the total import-export turnover.
Mobile phone and landline export turnover rose 75.5 percent, while computers and spare parts saw a 45.3 percent surge.
Nguyen Tien Vy said exports to the EU market in the nine-month period saw the highest growth rate at 22 percent, following by America (14 percent) and Asia (13 percent) against the corresponding period last year.
The foreign direct investment sector retained its leading position in exports, accounting for 60.5 percent of the total during the period.
Garments and textiles, shoes, computer, electronic products and spare parts from the sector made up 44 percent of the total.
Head of the Import-Export Department Phan Van Chinh added that businesses had taken advantage of commercial trade agreements to accelerate exports.
Specifically, items which enjoyed advantages from Certificates of Origin (C/O) last month reached 60 percent. In the Republic of Korea market, the rate was up to 90 percent, while that in ASEAN and Japan, 55 percent.
Phan Van Chinh said export turnover had been on an upward trend, as the country's exports traditionally surge in the last months of the year.
However, he suggested that enterprises should further make use of preferential treatment gained from signed commercial trade pacts. In addition, management agencies should further reform administrative procedures to help grant businesses C/O.
He also called for tax payment difficulties to be resolved and guarantees to be given to exporters.-VNA
According to forecast by the Ministry of Industry and Trade (MoIT), turnover would be four percent higher than the target set by the National Assembly earlier this year.
Its figures revealed that in the first nine months of the year, Vietnam's export turnover was 96.46 billion USD, a 17.5 percent rise over the same period last year.
The processing industry accounted for 69.7 percent of the total, with turnover of 67.24 billion USD, representing 26.4 percent year-on-year increase.
Head of the ministry's Planning Department Nguyen Tien Vy said the industry was the standout performer in the total import-export turnover.
Mobile phone and landline export turnover rose 75.5 percent, while computers and spare parts saw a 45.3 percent surge.
Nguyen Tien Vy said exports to the EU market in the nine-month period saw the highest growth rate at 22 percent, following by America (14 percent) and Asia (13 percent) against the corresponding period last year.
The foreign direct investment sector retained its leading position in exports, accounting for 60.5 percent of the total during the period.
Garments and textiles, shoes, computer, electronic products and spare parts from the sector made up 44 percent of the total.
Head of the Import-Export Department Phan Van Chinh added that businesses had taken advantage of commercial trade agreements to accelerate exports.
Specifically, items which enjoyed advantages from Certificates of Origin (C/O) last month reached 60 percent. In the Republic of Korea market, the rate was up to 90 percent, while that in ASEAN and Japan, 55 percent.
Phan Van Chinh said export turnover had been on an upward trend, as the country's exports traditionally surge in the last months of the year.
However, he suggested that enterprises should further make use of preferential treatment gained from signed commercial trade pacts. In addition, management agencies should further reform administrative procedures to help grant businesses C/O.
He also called for tax payment difficulties to be resolved and guarantees to be given to exporters.-VNA
You should also see
Vuong Dinh Hue permitted to cease holding positions, working
The 13th Party Central Committee on April 26 agreed to let Vuong Dinh Hue cease holding the positions of Politburo member, member of the 13th Party Central Committee, and Chairman of the 15th National Assembly (NA) in the 2021 - 2026 tenure.
See more
Business
Investor confidence gains traction on improved business climate
Better investment climate, with simplified administrative producers and special incentives, has helped improve investor confidence, thus catalysing investments from a wider pook of both domestic and international investors for socio-economic development.
Business
Vietnam’s rice exports may exceed 2024 target
With positive results recorded so far, Vietnam can exceed its target of 7.6 million tonnes in rice export volume set for 2024, Nguyen Ngoc Nam, Chairman of the Vietnam Food Association, said at a conference in the Mekong Delta city of Can Tho on April 26.
Business
Ample room for Quang Ninh to attract FDI
The northeastern province of Quang Ninh has ample room to attract foreign direct investment (FDI) and realise the goal of attracting 3 billion USD in FDI this year and 10 billion USD in the 2020-2025 period.
Business
Long An, Dong Nai introduce strengths in RoK
The southern province of Long An and Dong Nai introduced their investment climate as well as socio-economic development orientations at an investment promotion conference held in the Republic of Korea (RoK) on April 26.
Business
Vietnam makes initial efforts to approach creative industries: CIEM
Vietnam has made initial efforts to approach creative industries and services, particularly a policy framework related to creative economy development, according to a new report released by the Central Institute for Economic Management (CIEM).
