The province’s export industry in the first four months of 2014 continued reaching positive results. With this result, the province is likely to fulfill its target on export growth of 16.5% as planned. 

Domestic enterprises have reached a strong growth in export. In picture: Dairy products for export being manufactured at Vinamilk’s factory.

Stable growth

According to provincial Department of Industry and Trade (DoIT), the province’s export turnover in the first months of the year achieved nearly US$4.346trillion, up 12.7% compared to the corresponding period last year. Of these, the foreign investment sector secured over US$3.66bln, up 12.9% while the domestic investment sector gained US$683.4mln, up 6.5% against last year’s same period. Most key export industries obtained a high growth. For example, industries of woodwork, garment, footwear, electric wire and cable reached US$508.4mln, US$608mln, over US$389mln, nearly US$112.5mln in export turnover, up 6.1%, 29.4%, 24.7%, 25.3%, respectively…

The above result has came from the demand for goods consumption in some traditional markets like U.S, EU, Japan and ASEAN countries on rapid growth. Provincial DoIT said that many exporters have got orders till Q3 2014 while some others have received orders for the whole year. Hence, it is predicted that the province’s export industry will continue positively changing and reach a high growth compared to the previous year.

Also during the period, the province’s import value was more than US$3.662trillion, up 13.7% compared to the same period last year. Thus, the province’s trade surplus in the first four months of 2014 was US$683.3mln. This showed that exporters in the province have so far taken full advantage of domestic supply chains to gradually reduce their import value. Moreover, auxiliary industries to serve main export industries in Vietnam in general and Binh Duong in particular have been on development.

Making efforts in seeking new markets

The competitive ability of domestic enterprises in export industry has got better and better in their new consumption markets. Particularly, steel and corrugated iron enterprises in Binh Duong continued taking fruits in production and business in the first four months of 2014, contributing bringing the local export turnover in this field to US$169.7mln.

Despite severe competitiveness from imported products and those made by FDI enterprises, Minh Dung Veterinary - Aquaculture Medicine Company has not only dominated the domestic market, but also continued effectively exporting into many countries, including India, Egypt, Malaysia, Thailand…Vu Thi Ngoc Trinh, CEO of the company said that since early this year, the company has reached more than US$1mln in export turnover. With the result, it is expected that the company will export its products into 17 countries in the world with total value reaching a growth of more than 50% compared to that of the previous year.

Sang Ban Mai Joint Stock Company is also very successful in manufacturing and exporting electric generators with the rate of localization reaching 40%. With many strong points, the company’s products with capacity from 10 KVA to 2,500 KVA, have further reached good competitiveness and consumption in Myanmar over the past four months. According to leaders of the company, this will be a main export market of the company in 2014 and the company’s export value into the market will reach a higher growth compared to that of last year.

With positive results over the past four months, many enterprises believe that the province’s export industry in 2014 will continue enjoying more advantages and reach a higher value. But, domestic enterprises, especially small and medium-sized ones need to make more efforts in consumption market expansion in order to get a stability in export. According to Mrs.Trinh, along with quality, design, production capacity…, enterprises need to be patient and affirm their prestige to partners.

Reported by T.Minh-Translated by K.T