FDI firms clock $50b export turnover

Thursday, May 25, 2017 12:00

Workers check electronic components at HCM City-based Nidec Sankyo Vietnam Co Ltd. — VNA/VNS Photo Thanh Vu

The total value of the export turnover earned by foreign direct investment (FDI) enterprises as of May 15 reached US$49.4 billion, accounting for 71 per cent of the nation’s export turnover.

This information was recently released by the General Department of Viet Nam Customs.

The proportion of turnover of FDI enterprises increased by 1 percentage point compared with the same period last year.

FDI enterprises have shown a growth rate of 19 percent, which is higher than the average growth rate of nationwide enterprises at 17.6 per cent.

The rapid growth of FDI enterprises is due to their strong operation in the major export sectors of Viet Nam such as telephones, computers and electronic products.

In localities witnessing large exports such as Bac Ninh, Thai Nguyen, Binh Duong and Dong Nai, the value of the turnover is mostly created by FDI enterprises.

For example, in the northern province of Thai Nguyen, before the appearance of the South Korean technology giant, Samsung, the locality saw very little export value. Now, Thai Nguyen is the second largest exporter in the value of export turnover, after HCM City, among 63 provinces and cities nationwide.

Nguyen Thi Thanh Hao, Head of the Import-Export Management and International Economic Integration Division under the Thai Nguyen Department of Industry and Trade, said that the key export products of the province were telephones and telephone components, and computers and tablets manufactured by the Samsung Group.

She said the spectacular breakthrough in export activities of Thai Nguyen in recent years is thanks to the efficiency in investment activities of Samsung.

“Local traditional export sectors have also shown improvement, but they cannot make the breakthrough for Thai Nguyen without the presence of the Samsung Group,” Hao said. — VNS

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