Exports in year-end months see positive signals

Since early this year, Binh Duong’s economy has achieved many positive and comprehensive results in all aspects. Specifically, exports reached nearly US$ 27 billion, marking a 15.4% increase over the same period in 2023, fulfilling nearly 80% of the 2024 plan and ranking third nationwide. Local authorities, sectors and businesses are making more efforts to ensure that the export sector reaches the highest level by the end of 2024.

Expanding export methods

In late October, Ratraco Transport and Trade Corporation coordinated with FADO iExport Corporation to launch a fresh coconut export shipment via train from the Song Than International Railway Station to Guangzhou, China. The shipment included three containers of fresh coconuts, weighing 67.5 tons and valued at approximately 220,000 yuan, with the expected transit time of seven days to Guangzhou. This is a new transport method offering advantages such as stable transit time, swift customs procedures for import and export into China and reduced logistics costs compared to road transport.

Import-export activities at Binh Duong General Port

Mai Hoang Long, Chairman of Ratraco Corporation stated that choosing to transport fresh coconuts—a key Vietnamese agricultural product—by railway ensures product quality for partners. Additionally, rail transport demonstrates professionalism and commitment in delivering the best products to the international market, reducing logistics costs for businesses in both countries, contributing to increasing the amount of agricultural products for export by railway.

Le Manh Ha, CEO of TBS Logistics Company emphasized that diversifying transportation methods such as using intermodal rail transport to China, is essential for businesses. This approach not only helps reduce transportation costs, but also shortens delivery time. It ensures safe, undamaged transport without delays or schedule disruptions like other methods. Moreover, rail transport avoids border congestion often encountered with road transport, particularly important for agricultural goods with short preservation periods that require rapid transit.

Striving to achieve the highest level

Import-export activities in the province are enjoying favorable conditions, with several key export products showing impressive growth compared to the same period in 2023. For example, the wood industry’s export value reached nearly US$ 5 billion, up 27.7%, accounting for 18.8% of the province’s total exports. The textile industry’s export value exceeded US$ 2.3 billion, an increase of 12.8% and the footwear industry’s export value surpassed US$1.3 billion, up 18.7% year-on-year. The province’s main export markets include the United States, the European Union, Canada, Japan, South Korea, China…

Production line at Thai Binh Investment Corporation

Nguyen Anh Tuan, Deputy General Director of TBS Group shared that in addition to production, the company is expanding its workshops and recruiting additional 10,000 workers to handle new orders and increase export output from the first quarter of 2025. So far, the company has secured enough export orders for 2024 and is aiming at boosting export value by at least 20% over 2023.

To promote export activities for businesses in the province, provincial departments and agencies are implementing solutions to facilitate businesses’ operations through promoting administrative reforms, making efforts to reduce time and costs in customs clearance procedures. Additionally, these departments are supporting businesses in boosting e-commerce, accessing export information channels to tap new markets; closely monitor the situation of each market to review and identify the types of goods that countries are in need of to exploit.

For the 2024 socio-economic development plan getting the highest level, Binh Duong is accelerating public investment projects and continuing resolving difficulties by enterprises, especially small and medium enterprises (SMEs). The province is emphasizing access to e-commerce to diversify export channels and seek new orders. Binh Duong is striving to complete critical traffic infrastructure projects on schedule to alleviate bottlenecks in transport and export, reduce costs for businesses and strengthen Binh Duong's bright spot in the investment environment.

Reported by Ngoc Thanh-Translated by Kim Tin