Dong Nai: stable market leads export turnover rise
Export turnover in the southern province of Dong Nai has performed well due to market stability and export market expansion, according to the provincial department of Industry and Trade.
The province’s export turnover in May 2015 is estimated to reach US$1.1 billion, up 7.3% compared to the same period last year.
Some products are expected to have particularly high export turnover, such as computer spare parts and transport vehicles (34%), electrical products (25%) and cashew nuts (40%).
Major markets including the US, China and Japan are continuing to enjoy high growth of 13.5%, 9.5% and 2%, respectively. Other markets seeing positive growth include the UK, Singapore, Canada, India and Australia.
According to the department’s director, Le Van Danh, the province aims to bring home up to US$14.6 billion, an increase of 10-12% against the previous year, from exporting local products.
He added the US is the province’s biggest export market and new link ups with American industrial associations and big enterprises such as Walmart should cement this further. Currently over 80% of export turnover in the province comes from Foreign Direct Investment (FDI) enterprises.
Over the last two years, FDI enterprises have shifted factories to Vietnam, hoping to enjoy preferential treatment when several trade deals, including the Trans-Pacific-Partnership Agreement (TPP), come into play by 2016.
Dong Nai is one of Vietnam’s most attractive destinations for FDI investors.
Some products are expected to have particularly high export turnover, such as computer spare parts and transport vehicles (34%), electrical products (25%) and cashew nuts (40%).
Major markets including the US, China and Japan are continuing to enjoy high growth of 13.5%, 9.5% and 2%, respectively. Other markets seeing positive growth include the UK, Singapore, Canada, India and Australia.
According to the department’s director, Le Van Danh, the province aims to bring home up to US$14.6 billion, an increase of 10-12% against the previous year, from exporting local products.
He added the US is the province’s biggest export market and new link ups with American industrial associations and big enterprises such as Walmart should cement this further. Currently over 80% of export turnover in the province comes from Foreign Direct Investment (FDI) enterprises.
Over the last two years, FDI enterprises have shifted factories to Vietnam, hoping to enjoy preferential treatment when several trade deals, including the Trans-Pacific-Partnership Agreement (TPP), come into play by 2016.
Dong Nai is one of Vietnam’s most attractive destinations for FDI investors.