The province, which is just north of HCM City, is home to 1,200 FDI projects from 42 countries and territories with more than 19,500 domestic firms involved in production and business performance.  — Photo enternews

DONG NAI (Biz Hub) — The southern province of Dong Nai's People's Committee held a seminar on Wednesday to help boost its exports to key markets.

Speaking at the seminar, vice chairman of Dong Nai Province Tran Van Vinh said in the last five years, the provincial growth rate had increased on average 12 per cent annually.

The province, which is just north of HCM City, is home to 1,200 FDI projects from 42 countries and territories with more than 19,500 domestic firms involved in production and business performance.

The demand for trade co-operation between businesses in the province and foreign partners was great, said Vinh.

The US accounts for 31 per cent of the province's total exports, followed by Japan (10 per cent) and China (8.5 per cent), he added.

Dao Tran Nhan, Commercial Counselor in the US, said Viet Nam's gross domestic product (GDP) and exports would increase by a respective 25 per cent and 32 per cent following the enforcement of the Trans-Pacific Partnership, a trade pact which covers a 800-million population market and makes up 40 per cent of the world's GDP and 30 per cent of global trade.

He described the US as a major and penetrable market, adding that Vietnamese firms will still meet difficulties due to weak export capacity, transport and technical barriers and food safety.

Vietnamese Commercial Counselors in Japan and China hailed the recent growing shipments of fruits and agricultural products, along with those of apparel, fibre, machinery and fisheries.

Commercial Counselor from the UAE Pham Trung Nghia said UAE is a significant market and a gateway to the Middle East and Africa.

However, he also expressed concern over inflated import prices due to the high local costs of transport and preservation.

Vietnamese Commercial counselors assured over 100 local export-import firms that they will be provided with all possible support to bring Viet Nam's products to foreign countries.

At the conference, trade counselors said they are willing to support and offer the best conditions for Vietnamese businesses to have access to key markets so as to expand and enhance exports to these markets.— VNS