Towards the Southern export service center

VCN - Export of goods has increased in recent years, Ho Chi Minh City is oriented to become the center of export services of the whole southern region.
5859-1710-7-0830-img-3073
Ho Chi Minh City's exports of goods through Cat Lai port are increasing day by day. Photo: T.H

A bright spot of commodity export

Mr. Kim Huat Ooi, IPV General Director, said that in the first three months of 2021, the total export value of the Intel factory was 2.6 billion products and it was likely that the factory would reach the milestone of 3 billion products at the end of 2021.

In 2020 alone, despite being affected by the Covid-19 pandemic, the factory's export value still reached over US$13 billion, accounting for about 70% of the export value of Ho Chi Minh City Hi-Tech Park and nearly 30% of the total export value of HCMC.

Among the eight solutions to improve exports, HCMC is particularly interested in solutions to improve the technical level of the mechanical engineering industry, creating a platform for shifting to industries with higher levels of sophistication and diversification opportunities; improve the export capacity of software products and services, digital content, finance and tourism; complete the city's strategy for developing the cluster of logistics industries; continue to promote administrative reform towards transparency and shorten the process to reduce costs as other countries in the region; implement solutions to continue to cut 50% of the time of receiving and checking customs dossiers; 50% reduction in actual inspection time of goods.

Among the eight solutions to improve exports, HCMC is particularly interested in solutions to improve the technical level of the mechanical engineering industry, creating a platform for shifting to industries with higher levels of sophistication and diversification opportunities; improve the export capacity of software products and services, digital content, finance and tourism; complete the city's strategy for developing the cluster of logistics industries; continue to promote administrative reform towards transparency and shorten the process to reduce costs as other countries in the region; implement solutions to continue to cut 50% of the time of receiving and checking customs dossiers; 50% reduction in actual inspection time of goods.

Many enterprises in the High-Tech Park in Ho Chi Minh City are also a bright spot in exports in the first three months of 2021 and the whole of 2020.

In 2020, exports of enterprises in the High-Tech Park grew strongly, reaching nearly US$20 billion, up 20% over the previous year, accounting for nearly half of the city's export turnover. In which, many enterprises with high export value such as Samsung, Intel, Jabil were estimated to increase by 20-30%.

The highlight of Ho Chi Minh City in recent years is that the business investment environment continues to be improved, administrative procedures have many breakthroughs, with many modernization programs, reducing documents and papers which has created favourable conditions for production and export activities of investors and enterprises.

According to Mr. Nguyen Thanh Phong, Chairman of the People's Committee of Ho Chi Minh City, in 2020, despite difficulties due to the impact of the Covid-19 pandemic, the socio-economic situation still had some bright spots, especially exports reaching more than US$44 billion, attracting foreign investment to reach more than US$4 billion.

In the first quarter of 2021, the Covid-19 pandemic still had a great impact on export partner countries, but the export of city’s enterprises across the country's border gates still achieved a turnover of US$10.73 billion, up slightly 2.2% over the same period last year.

It is noteworthy that HCMC still strives to maintain export stability in some key markets. In which, China is still the largest export market for city’s enterprises, accounting for 25.6% of the export proportion. Followed by the US, accounting for over 17%; Hong Kong market accounts for 12.3% of export proportion.

Aiming to export software over US$10 billion

Determining the export of software products and digital content is one of the potentialities of Ho Chi Minh City, Ho Chi Minh City leaders have encouraged and facilitated enterprises and investors to expand production.

Recently, Intel Corporation announced an additional investment of US$475 million in Vietnam Intel Products, bringing Intel's total investment in Vietnam to US$1.5 billion. This additional investment enhances production of Intel's 5G products, Intel Core processors with Intel Hybrid Technology and 10th generation Intel Core processors. This investment enabled Intel Vietnam to promote diversification and improving operations in the host country so that more complex technologies and new products can be adopted.

Ho Chi Minh City forecasted that by 2025, the export turnover was estimated at US$70 billion and the average export growth rate in the period 2026 - 2030 would reach 9% per year. For the group of software and digital content products, it was estimated that the export turnover would reach US$10.1 billion by 2025 and US$20.3 billion by 2030.

Ho Chi Minh City also set a mission by 2025 to maintain and support the development of traditional key products with high export turnover and growth rates, creating more jobs and making a large contribution to the city’s budget, while preparing conditions for industrial upgrading, joining the global value chain, towards implementing export services were a leading strategy to increase added value in accordance with HCMC's competitive advantage.

At the same time, to improve the competitiveness of export industry clusters, gradually shifting from labour-intensive industries with low sophistication and low diversification opportunities to industries with higher sophistication and diversification opportunities (electronics, mechanics, furniture), these industries were considered as the foundation for the city's export growth in the future.

Ho Chi Minh City also set a mission by 2030 to develop a strategy to improve the competitiveness of typical export products including: tangible products (electronics, assembly mechanics, manufacturing, automation, optical sector), especially software products and digital content and service exports (finance, tourism, logistics), because these were the new drivers of long-term export growth.

HCMC also promoted investment attraction and development of service export sectors (finance, banking, logistics); to build and form logistics service centers in the city to connect and serve goods circulation in the southern region.

By Le Thu/ Binh Minh

Related News

Quang Ninh Customs seeks solutions to promote import and export

Quang Ninh Customs seeks solutions to promote import and export

VCN - Quang Ninh Customs Department has made efforts to synchronously deploy solutions to accompany, support and resolve difficulties for businesses, contributing to improving import and export activities through the area.
Vietnam and UAE trade sees billion-dollar growth

Vietnam and UAE trade sees billion-dollar growth

VCN - According to General Department of Vietnam Customs by the end of September 2024, bilateral trade between Vietnam and the United Arab Emirates (UAE) reached nearly US$5 billion, an increase of more than US$1.4 billion over the same period last year.
Opportunities for accelerating Vietnam

Opportunities for accelerating Vietnam's seafood exports

VCN - Seafood is one of the key industries contributing significantly to Vietnam's export turnover. In the first nine months of the year, seafood exports brought in US$7.16 billion, an 8.5% increase compared to the same period in 2023. Among the factors driving this success, aside from favorable market conditions, the effective utilization of Free Trade Agreements (FTAs), including the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), has played a crucial role. However, along with achievements, the industry also faces challenges, including market competition and trade defense lawsuits. Nguyen Hoai Nam, Deputy Secretary-General of the Vietnam Association of Seafood Exporters and Producers (VASEP), shared insights on these issues.

Latest News

Import and export are expected to reach 800 billion USD

Import and export are expected to reach 800 billion USD

VCN - Although the import and export turnover of goods slowed down in September 2024, in general, import and export activities, especially exports, still grew positively in the first 9 months of 2024. It is expected that import and export of goods in 2024 will reach a record of 800 billion USD.
Fresh coconuts quenching new overseas markets

Fresh coconuts quenching new overseas markets

Vietnam’s fresh coconuts are being increasingly consumed in international markets such as the US, China, and the UK, highlighting a bright spot in Vietnam's fruit export sector with many opportunities for breakthroughs in the near future.
Rice exports likely to set new record in 2024

Rice exports likely to set new record in 2024

Vietnam sold 800,000 tonnes of rice overseas for 505 million USD in October, bringing the country's total export volume and value in the first ten months to nearly 7.8 million tonnes and 4.86 billion USD, up 10.2% and 23.4% year-on-year, respectively.
Vietnamese goods conquer halal market through trust and quality

Vietnamese goods conquer halal market through trust and quality

VCN - According to the Ministry of Agriculture and Rural Development, Vietnam's capacity to export over 50 billion USD worth of agricultural products annually, coupled with established supply chains, provides a significant advantage for Vietnamese agricultural and aquatic products to penetrate the Halal market.

More News

Exporters urged to have strategies to take advantage of UKVFTA for expansion

Exporters urged to have strategies to take advantage of UKVFTA for expansion

The UK is concerned by sustainable development, labour issues, environmental protection and social responsibility. Therefore, when exporting to the UK, enterprises should not just be concerned about being competitive in terms of price and quality.
Fresh coconuts quenching new overseas markets

Fresh coconuts quenching new overseas markets

Vietnam’s fresh coconuts are being increasingly consumed in international markets such as the US, China, and the UK, highlighting a bright spot in Vietnam's fruit export sector with many opportunities for breakthroughs in the near future.
Sharing responsibility for ensuring security and safety of the supply chain

Sharing responsibility for ensuring security and safety of the supply chain

VCN – Post - clearance audit is carried out in a planned, focused and key manner, avoiding widespread and ineffective inspections, thereby creating convenience for the business community and improving the effectiveness of state management of customs.
Many factors affecting tuna exports in the last months of the year

Many factors affecting tuna exports in the last months of the year

VCN - Tensions between Israel and Iran escalate, tuna businesses are worried, they may have to stop export orders to the Israeli market in the last months of the year.
Vietnam still dominates Philippine rice import

Vietnam still dominates Philippine rice import

Vietnam continues to assert its dominance as the top rice exporter to the Philippines, with 2.91 million tonnes shipped as of the late October, or over 79% of the Philippines' total rice imports, according to the Vietnam Trade Office in the Philippines.
Vietnam cements ties with partners to engage in global semiconductor, AI industries

Vietnam cements ties with partners to engage in global semiconductor, AI industries

By boosting cooperation with reputable partners across the globe, Vietnam is taking steps to gain a foothold in the world’s semiconductor and artificial intelligence (AI) industries.
Aquatic exports expected to rise in year-end despite challenges

Aquatic exports expected to rise in year-end despite challenges

Aquatic exports is expected to surge in the remaining months of this year, as the year-end festive season comes, despite many challenges in the international markets, according to insiders.
Trade Defense: The Key to Success for Vietnamese Businesses

Trade Defense: The Key to Success for Vietnamese Businesses

VCN - From losses and near bankruptcy, many domestic enterprises have recovered thanks to timely application of trade defense measures. Trade defense is also an effective shield for Vietnamese enterprises against a series of lawsuits from importing countries, thereby maintaining advantages and developing on "away grounds".
Lao Cai Customs sees a triple-digit surge in export-import turnover

Lao Cai Customs sees a triple-digit surge in export-import turnover

VCN - Updated from the beginning of the year to October 24, total import and export turnover through Lao Cai Customs Department increased by 102%.
Read More

Your care

Latest Most read
Import and export are expected to reach 800 billion USD

Import and export are expected to reach 800 billion USD

VCN - At the regular Government meeting in September 2024, Minister of Industry and Trade Nguyen Hong Dien assessed: import and export continued to be a bright spot, recording a positive recovery compared to the same period last year.
Fresh coconuts quenching new overseas markets

Fresh coconuts quenching new overseas markets

Vietnam’s fresh coconuts are being increasingly consumed in international markets such as the US, China, and the UK, highlighting a bright spot in Vietnam's fruit export sector with many opportunities for breakthroughs in the near future.
Rice exports likely to set new record in 2024

Rice exports likely to set new record in 2024

Vietnam sold 800,000 tonnes of rice overseas for 505 million USD in October, bringing the country's total export volume and value in the first ten months to nearly 7.8 million tonnes and 4.86 billion USD, up 10.2% and 23.4% year-on-year, respectively.
Vietnamese goods conquer halal market through trust and quality

Vietnamese goods conquer halal market through trust and quality

According to the Ministry of Agriculture and Rural Development, Vietnamese agricultural and aquatic products could penetrate the Halal market.
Exporters urged to have strategies to take advantage of UKVFTA for expansion

Exporters urged to have strategies to take advantage of UKVFTA for expansion

The UK is concerned by sustainable development, labour issues, environmental protection and social responsibility. Therefore, when exporting to the UK, enterprises should not just be concerned about being competitive in terms of price and quality.
Mobile Version