Ngo Cong Tuoc, director of the Kien Giang Department of Industry and Trade, said that the export value during the reviewed period remained low in comparison with the set target for 2019 due to a sharp decline in the demand in the rice, leather, and footwear markets.
The average export price of rice saw a drop of US$84 per ton and only three-seventh of businesses are now operating in major markets such as China, Ghana, and the Philippines.
Most notably, exports to the Chinese market plummeted by 70 per cent with only a third of businesses able to meet standards with regard to technical barriers.
Other reasons can also be attributed to the decline in export activities including an unstable material source of seafood, a lack of brands among the province’s key products, and a limited management capacity of businesses which have yet to meet the requirements set in the international integration process.
Additionally, importers have also set high criteria in terms of food safety, hygiene, and environmental protection.
According to the provincial department of Industry and Trade, during the second half of the year the province will strive to export US$405 million to achieve the planned amount of US$608 million in 2019, an increase of 7.96 per cent on-year.
In order to achieve this target, relevant agencies in Kien Giang aim to remove difficulties for businesses in terms of material source, workforce, and technology.
The locality will also strengthen trade promotional activities in a bid to seek new outlets, especially following the recent signing of the EU-Vietnam Free Trade Agreement and the EU-Vietnam Investment Protection Agreement which has added fresh impetus to export activities.