Hà Nội continues to support businesses to exploit new markets

Wednesday, Feb 21, 2024 09:57

Manufacturing wires at MBT Electrical Equipment Joint Stock Company in Sóng Cùng Industrial Zone in Đan Phựợng District of Hà Nội. — VNS Photo Tố Như

The capital Hà Nội will continue to support businesses to exploit new markets by taking advantage of FTA agreements, and support businesses to complete official export documents to the Chinese market.

Data by the Hà Nội Department of Industry and Trade showed that despite many difficulties, Hà Nội's export turnover increased dramatically last year.

Total import and export turnover of goods reached over US$54.4 billion, of which exports reached $16.7 billion.

The city’s enterprises have affirmed their strong growth by playing a key role in export activities, gradually reducing dependence on FDI enterprises as export turnover reached $9.5 billion last year, accounting for a proportion of 57 per cent, up 3.7 per cent.

The foreign investment sector reached $7.2 billion, accounting for 43 per cent, down 9.6 per cent.

Accordingly, businesses strive to implement new export methods such as online trade promotion, exporting through large e-commerce platforms or foreign retail groups such as AEON, Central Retail or MM Mega Market, at the same time, promoting trade connections between Vietnamese businesses and key export markets such as the US, Japan and the EU.

Export activities through e-commerce platforms such as Amazon and Alibaba are a direction that many businesses are increasingly implementing because this helps reduce costs and shipping time, while profits can grow three times compared to traditional exports.

The Pháp luật và Xã hội (Law and Society) online newspaper quoted Trần Thị Phương Lan, acting director of the Hà Nội Department of Industry and Trade, as saying that recently, to support businesses, the department had regularly updated and published information of customs clearance situation of import and export goods at border gates, new regulations, directives and administrative documents related to export and import activities for businesses.

The city has also supported export and import businesses in the area to participate in trade promotion activities, said Lan.

The industry and trade sector would also focus on supporting craft villages to export products directly, emphasised Lan.

At the same time, the city would choose to develop a number of industries with competitive advantages and the ability to deeply participate in the global value chain.

It will also focus on developing supporting industries to become suppliers for domestic and foreign customers.

The Hà Nội Industry and Trade Department aims to raise export turnover by about 4-5 this year. — VNS

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