Dong Nai targets US$12b in export turnover

Tuesday, Jan 07, 2014 09:00

Japan-invested Mabuchi Motor Viet Nam in southern Dong Nai Province produces small electric motors for export. Dong Nai Province set a target of exporting nearly US$12 billion worth of goods this year. — VNA/VNS Photo Danh Lam

DONG NAI (Biz Hub)— Southern Dong Nai Province aims to generate US$11.8-$11.9 billion from exports in 2014, a rise of 9 or 10 per cent year-on-year, according to the provincial Department of Industry and Trade.

To reach this goal, the department has drawn up an action plan focusing on assisting enterprises, clearing bad debts, reducing stockpiled goods and expanding export outlets, said its director Le Van Danh.

The department also plans to organise business trips for local firms to seek opportunities in markets such as Germany, Dubai, Ukraine, Russia, Myanmar, the United States, the ASEAN, India and China, Danh added.

According to Danh, his department has also improved the quality of information related to its market forecast while updating policies on import-export activities as well as providing businesses with comprehensive information related to the Free Trade Agreement (FTA) negotiations between Viet Nam and other nations.

According to the department's statistics, the provincial exports rose 9.5 per cent to $10.8 billion last year, with the highest earnings coming from the US ($3.1 billion), followed by Japan (nearly $1.2 billion) and China (over $1 billion).

However, the province has failed to reach its annual export growth target of 12-15 per cent, the department said, blaming this unsatisfactory result on economic difficulties that had led to local firms adjusting their business plans. Many of them had to carefully consider contracts before signing them to avoid risks. — VNS

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