HCM City to determine key exports

Identifying HCM City’s typical export products should not be based simply on their export volume or value or subjective decisions, but on careful analysis, experts have said.
hcm city to determine key exports

Containers at Saigon Newport Corporation in HCM City (Photo: VNA)

The city Department of Industry and Trade recently held a seminar to identify the city’s top export products and collect opinions from experts, business groups and enterprises for its Export Development Project in 2017-20 before submitting to the People’s Committee for approval. The project’s objectives are to forecast opportunities for and challenges to exports, identify the most competitive export sectors and products, and propose solutions and strategies for developing exports. Nguyen Ngoc Hoa, the department’s deputy director, said the department is working with the Institute of Public Policy - University of Economics HCM City and experts from Fulbright University to develop the project. The consulting team has used a variety of research methods to identify the city’s top export products as well as used data from nearly 14,000 export enterprises combined with surveys and interviews of some 200 enterprises in 14 sectors to determine the competitive advantages of and value addition in export products, he said. Hoa said the city has paid close attention to shifting its export structure, reducing export of low added-value products and increasing export of highly processed products and services with high added value, with programmes designed to encourage the shift in recent years. But the results have been below expectations, he admitted. Analysing the city’s export structure in the 2008-15 period, Dinh Cong Khai, director of the Institute of Public Policy, pointed out exports had mainly grown in volume terms and followed the market, and lacked a strategic direction for development. The city’s production and exports are not very competitive, with the former being mainly contract-based and not deeply participating in the global value chain, he said. As a result, the city’s export growth is fully dependent on global market fluctuations, making it hard to implement strategies or programmes to shift export structures, he said. Besides, the city has not identified industries with high export growth potential and competitive advantages based on scientific analysis or new methods, and relies on the traditional approach based mainly on export value, he said. Programmes to support the shift in the export structure and develop exports are not cohesive, making it difficult for stakeholders to implement them, he said. To achieve the objectives of export restructuring, it is necessary to evaluate the competitiveness of existing exports, delegates said. Designating the major exports now as the key exports is easy, but their value addition and comparative advantages would be low, they said. On the contrary, sectors that currently do not export much but have high potential would need investment and strategies to develop, they said. Tran Viet Anh, deputy chairman of the HCM City Union of Business Associations and chairman and general director of Nam Thai Son Company, said the city needs to assess the competitive advantage of products through international export fairs and exhibitions to identify key products. Dr Tran Du Lich, a member of the Government’s economic advisory group, said the city needs to change its mind about what are typical export products since even its four key industry groups and nine service sectors need to be changed because they may not be suitable in the current time.

Source: VNA

Related News

HCM City Customs revoke declared value of more than 4,000 declaration after consultation

HCM City Customs revoke declared value of more than 4,000 declaration after consultation

VCN - Through price consultation operations for import and export goods, Ho Chi Minh City Customs Department has rejected the declared value of over 4,000 customs declarations.
Chinese goods flock to Vietnam in the first half of 2024

Chinese goods flock to Vietnam in the first half of 2024

VCN - In the first 6 months of 2024, the import turnover of goods from China to Vietnam will grow strongly by tens of percent compared to the same period in 2023.
Agricultural, forestry and fishery product exports reached US $ 29.2 billion in the first half of the year

Agricultural, forestry and fishery product exports reached US $ 29.2 billion in the first half of the year

VCN - In the first six months of the year, total export turnover of agricultural, forestry and fishery products reached US $29.2 billion, up 19% over the same period in 2023.

Latest News

Indonesia licenses certificates of lobster cultivation for three Vietnamese companies

Indonesia licenses certificates of lobster cultivation for three Vietnamese companies

Three out of the five Vietnamese businesses, which have formed limited liability companies in Indonesia, have been verified and received certificates of lobster cultivation from the Directorate General of Aquaculture, according to Indonesia’s Ministry of Maritime Affairs and Fisheries.
Vietnamese spend nearly 150 trillion VND on online shopping

Vietnamese spend nearly 150 trillion VND on online shopping

Vietnamese consumers spent 143.9 trillion (5.68 billion USD) buying 1.53 million items on five e-commerce platforms in the first half of this year, representing a rise of 54.91% and 65.55% over the same period last year, respectively, according market analysis firm Metric.
Four tens of billion USD export markets

Four tens of billion USD export markets

VCN - According to General Department of Vietnam Customs, by the end of June 2024, Vietnam has four markets achieve export turnover of US$ 10 billion.
Successful digital transformation solutions for wood industry enterprises

Successful digital transformation solutions for wood industry enterprises

VCN - Refraining from rushing, implementing steps gradually, and maintaining a clear vision are the recommendations that experts give to wood industry enterprises for successful digital transformation.

More News

Vietnamese lychee sold well at Costco stores in Australia

Vietnamese lychee sold well at Costco stores in Australia

Lychee, one of Vietnam’s major export fruits, has been sold well at Costco stores in Western Australia and South Australia, according to the Vietnam Trade Office in Australia.
Durian exports forecast to top 3 billion USD in 2024

Durian exports forecast to top 3 billion USD in 2024

Durian exports may surpass 3 billion USD this year, according to Dang Phuc Nguyen, General Secretary of the Vietnam Vegetable and Fruit Association (Vinafruit).
FTA - support to promote pangasius export

FTA - support to promote pangasius export

VCN - The implementation of FTAs ​​always creates favorable conditions for businesses to expand and diversify markets, bringing Vietnamese seafood, including pangasius, to participate deeperly into the global production and supply chain.
Vietnam - France trade reached nearly US$2.5 billion in the first half of the year

Vietnam - France trade reached nearly US$2.5 billion in the first half of the year

VCN - France is Vietnam's leading trade partner in Europe with bilateral turnover reaching billions of US$/year.
Technology increases competitiveness in the logistics race

Technology increases competitiveness in the logistics race

VCN - In the context that the logistics industry in Vietnam is forecast to continue to grow strongly, many businesses are actively applying technology and expanding service chains to take advantage of opportunities and keep pace with the general trend.
MoIT proposes key solutions to cope with rising sea freight prices

MoIT proposes key solutions to cope with rising sea freight prices

The Ministry of Industry and Trade (MoIT) has requested local associations and businesses to coordinate implementing key solutions to promote imports and exports as sea freight rates rise.
Vietnamese seaports to handle 1.2-1.4 billion tonnes of cargo by 2030

Vietnamese seaports to handle 1.2-1.4 billion tonnes of cargo by 2030

Vietnam's seaport cargo throughput is set to reach 1.2-1.4 billion tonnes by 2030, with container cargo expected to range from 46.3 to 54.34 million TEUs, according to a detailed plan for the development of seaport groups, wharfs, jetties, buoy berths, and water areas in 2021-2030, with a vision to 2050.
Binh Dinh seeks investment opportunities from Germany, France

Binh Dinh seeks investment opportunities from Germany, France

A delegation from the south central province of Binh Dinh led by Permanent Vice Secretary of the provincial Party Committee Le Kim Toan paid a working trip to Germany and France to explore investment opportunities from July 17-22, reported the provincial Department of Planning and Investment.
Warnings as HRC steel imports continue to increase rapidly

Warnings as HRC steel imports continue to increase rapidly

The amount of imported hot-rolled coil steel in the first six months of this year increased sharply to an alarming level, 1.7 times higher than domestic production.
Read More

Your care

Latest Most read
Indonesia licenses certificates of lobster cultivation for three Vietnamese companies

Indonesia licenses certificates of lobster cultivation for three Vietnamese companies

Three out of the five Vietnamese businesses, which have formed limited liability companies in Indonesia, have been verified and received certificates of lobster cultivation from the Directorate General of Aquaculture, according to Indonesia’s Ministry of Maritime Affairs and Fisheries.
Vietnamese spend nearly 150 trillion VND on online shopping

Vietnamese spend nearly 150 trillion VND on online shopping

Vietnamese consumers spent 143.9 trillion (5.68 billion USD) buying 1.53 million items on five e-commerce platforms in the first half of this year, representing a rise of 54.91% and 65.55% over the same period last year, respectively, according market analysis firm Metric.
Four tens of billion USD export markets

Four tens of billion USD export markets

According to General Department of Vietnam Customs, by the end of June 2024, Vietnam has four markets achieve export turnover of US$ 10 billion.
Successful digital transformation solutions for wood industry enterprises

Successful digital transformation solutions for wood industry enterprises

VCN - Ms. Nguyen Thi Linh Vy, Production Management Director at Imity Company, also states that although they had planned digital transformation two years ago, the company has not yet dared to implement it.
Vietnamese lychee sold well at Costco stores in Australia

Vietnamese lychee sold well at Costco stores in Australia

Lychee, one of Vietnam’s major export fruits, has been sold well at Costco stores in Western Australia and South Australia, according to the Vietnam Trade Office in Australia.
Mobile Version