FOREIGN ECONOMIC RELATIONS Updated at 10:30:47 08/04/2020  (Views:  100 )
Binh Thuan to boost exports by r

Binh Thuan to boost exports by restructuring its economic structures along appropriate roadmap

BTO – Binh Thuan Department of Trade and Industry has steps by steps restructured its economic structure along with the appropriate roadmap. Thereby, it has gradually overcome existing weaknesses as well as promoted its advantageous sand competitive strengths of the industry. Restructuring in the right direction enables to create good conditions for businesses to boldly invest in expanding production, promoting advantageous exports of Binh Thuan.

Maintaining turnover increase

Binh Thuan's export activities in recent years have shown a significant growth with a higher year-on-year export turnover. If in 2016, it reached USD 350.2 million, it would increase by USD 462.2 million in 2019. And in the first half of 2020, it would reach nearly USD 208 million. In the period from 2016 to 2019 alone, the province's export turnover achieved an average growth rate of 8.75 percent per year.

Such above-mentioned achievements partially went from the recent internal structure of the industry and trade sector in the right direction. Currently, Binh Thuan's exported goods are also more diversified, but mainly focused on advantageous goods, including: garment, seafood (frozen and dry), agricultural products (dragon fruit, rubber, cashew nuts, fruits and all kinds of vegetables), footwear, wooden furniture, auto parts, high-class paper, etc.

Up to now, the province's export market has expanded to 56 countries and territories around the world. In which, Asian market accounts for the highest rate with over 60%, the rest is America, Europe, Oceania and Africa. 

Seafood exports

Through trade promotion activities, Binh Thuan also identifies key markets to boost export activities and turnover increase . Exported goods  to Asian markets (China, Taiwan, Qatar, India ...) are garments, shoes, dried and frozen seafood, fish sauce, wood products, paper, cashew nuts, dragon fruit and vegetables ...  For the Americas, the province is promoting export frozen seafood, cashew kernels, paper, footwear or footwear accessories to the US, Colombia, Uruguay and Panama markets, while the African market maintains export frozen seafood and footwear to Egypt, Kenya, etc.

Keen on boosting exports

In preparation for a new period of 2021- 2025, Binh Thuan continues to promote investment in developing production of local advantageous exports. Particularly, It focuses on developing the processing industry group, expands export activities that bring good turnover such as seafood, garments, shoes and boosting the export of official dragon fruits, rubber ... At the same time, the implementation of trade promotion activities is also maintained its stability of the traditional market, seeking to expand new markets to export goods.

The goal of the Department of Industry and Trade in 2025 is to bring the proportion of processing - manufacturing industry to reach approximately 40 percent of the industry structure, increasing the average exports growth of in the period 2021 - 2025 up to 5.38 percent per year. To accomplish this goal, the sector will concentrate on directing and organizing the effective implementation of related projects. The solutions are to research and develop dragon fruit market, promote Vietnamese businesses to directly participate in foreign distribution networks and logistics centers …

 

In order to boost the export of goods, the industry and trade sector continues to consolidate and expand export markets in the direction of diversifying markets and products. In addition, the province also acts as an advisor for the Provincial People's Committee on measures to direct export development, focusing on agricultural products (rubber latex, dragon fruit) and proactively integrating into the international economy. On the other hand, departments and agencies will coordinate with other agencies to implement solutions to keeping the trademark "Phan Thiet fish sauce", "Binh Thuan dragon fruit" ... For trade associations and businesses, they will focus on trade promotion, aims at effective promoting advantageous products of Binh Thuan to help businesses find partners, expand commodity consumption markets.

Translated by Ul (Source: Binh Thuan Newspaper)

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