Under its plan on goods import and export for the 2011-2015 period and orientations to 2020, Binh Duong gained important results. Noticeably, there was high growth in export turnover, significantly contributing to the local socio-economic development.
Export turnover with high growth
The province’s export-import industry during the 2011-2015 period reached good results with high growth in export turnover. In 2015 alone, the province’s export turnover was estimated at US$21.6billion, 2.06 times higher than 2011 while import value was more than US$17.5billion, 1.92 times higher than 2011. There was a shift in the structure of exports towards the growth of processed industrial products in line with the roadmap of realizing a goal of the province’s goods export-import strategy for the 2011-2020 period and orientations to 2030. Noticeably, the province’s key export industries of garment-textile, footwear, woodwork…continued maintaining stable growth and there were also another new export products like mobile phones, computers, electronics, especially hi-tech agricultural products.
The province’s export turnover is predicted to gain high growth in the coming time. In picture: This is a production line of Binh Duong Garment Joint Stock Company.
Kitagaki, General Director of Omron Healthcare Manufacturing Vietnam Co.Ltd. in VSIP 2 said that his company is specialized in making and exporting blood pressure monitors, nebulizers into more than 170 countries worldwide. Over the past nine years, the company manufactured around 35 million blood pressure monitors. The company’s total output in the recent 3 years was a twofold increase compared to the previous 3 years. In 2016 alone, the company’s total revenue reached US$100million. The company’s export turnover in 2017 is likely to increase by 30% against 2016, due to the global demand for blood pressure monitors on rise.
Provincial Department of Industry and Trade said that over the past years, province-based enterprises’ export market was expanded. The province’s programs on trade, industrial and agricultural promotion, support of sci-tech application into production to improve productivity, product quality and competitiveness also upheld their efficiency. The province’s export products on furniture, footwear, garment-textile…have been highly appreciated in the world market. Many prestigious and famous brand names like Minh Long pottery, Hiep Long furniture, Dau Tieng rubber…have won the “Prestigious exporter” title from the Ministry of Industry and Trade for many consecutive years and well-known by foreign partners.
Besides, the province’s industrial parks infrastructure, traffic network and logistics services have developed strongly, contributing to promoting enterprises’ production and business. The province has also attached special importance to fostering auxiliary industries for exports towards sustainable development. In addition, the free trade agreements between Vietnam and its partners have opened up opportunities for domestic enterprises in general and those in Binh Duong in particular to expand their export markets. This is also a motivation for the province to absorb more investors.
Export market expanded
Along with the above-mentioned achievements, the province’s export-import industry over the past time encountered shortcomings for change.
According to representative of provincial DoIT, the province will further set up and implement a Project on increasing grey matter content in export products by 10% in the period of 2016-2020, a Project on rising technology content for the province’s main products, services by 20% in the period of 2016-2020, a Project on developing an export linking zone for industries of mechanism, garment-textile, footwear and furniture under the Ministry of Industry and Trade’s Decision No.4842/QD-BCT dated December 9, 2016.
The province will also develop trade promotion programs and expand export markets; consolidate and expand traditional markets; promote logistics services for export; well realize administrative reform, especially in the sectors of customs and tax…
It is known that the province’s export turnover in 2016 reached nearly US$24.333billion, up 16.4% compared to 2015. The province’s export-import target in the period of 2016-2020 is to obtain the annual average growth of 15% and the local export value till 2020 will be US$42.24billion with the annual average growth of 15.5%. Till 2020, the value will be US$35.552billion. The province’s trade surplus in 2020 will reach approximately US$6.689billion.
Reported by Phuong Le-Translated by K.T