HCM City eyes $48.1 billion in exports in 2021
HCM City has targeted posting export revenue of US$48.1 billion this year, giving a boost to the shipment of its key earners.
HCM City has targeted posting export revenue of US$48.1 billion this year, giving a boost to the shipment of its key earners.
In the first two months of the year it pocketed $7.6 billion from exports, a year-on-year increase of 26.5 per cent.
According to the municipal Department of Industry and Trade, China remained the largest importer of the city's businesses, with export turnover reaching $1.7 billion, up 31.6 per cent year-on-year, followed by the US with $1.1 billion and Hong Kong (China) with $737 million.
The southern hub is encouraging newly-established firms to focus on manufacturing key industrial products with potential during the 2021-2025 period, including in mechanics, rubber-plastic, food-foodstuffs, IT-electronics-telecommunications, garment-textiles, and pharmaceuticals.
It is building an inter-sector coordination mechanism to develop markets for key local products, while working to attract skilled workers to create high-quality products with greater added value.
The Department of Industry and Trade is working with relevant parties to develop a domestic supporting industry supply chain, helping local companies cut input costs and improve their competitive capacity.
They will work together to enhance trade promotion and support businesses to reach out to the world. — VNS
