The country’s first two month export turnover was estimated at over US$8.9bil, a light surge from the period of last year. Amid the difficult context, the surge is a good signal for the country’s target of winning a 6% growth in this year.

 

The garment industry wins a 17% increase in export turnover in the first 2 months of 2010.

An early year optimistic

Staple industries reached a high export turnover in the first 2 months of this year. To say, rubber industry obtained a 64% increase of exports, timber 29%, seafood 19%, cashew nut 14% and so on. The prices of many export items were improved such as a 74% surge in crude oil price, 45% in coal, and 24% in rice… The price hike of these products rose about US$600mil for the country’s export turnover.     

In 2010, cashew industry strives to export 180 thousand tons of cashew nut with the turnover of about US$1bil. This is the industry’s record figure. According to Dang Hoang Giang, general secretary of the Vietnam Cashew Association, the industry will exceed its target.

It is expected that the country’s economy will win a 6.5% growth in this year. Together with the economic recovery and financial market stability, trade and investment activities will be improved. At present, Vietnam’s exports to key markets have showed remarkable signs.

Supportive measures needed

At a recent meeting, businesses and managers worried about the country’s financial activities with many risks of inflation, increase on interest rates… Production capacity of farm produce and mineral products is difficult to win a high growth whilst items of garment, footwear encounter difficulties. Many companies wished to enjoy more loans for productive expansion and material storage…

Vicofa and the Ministry of Trade and Industry have petitioned to purchase 200,000 tons of coffee for reserve. Right after the information disclosed, the world coffee price surged over US$20 per ton. Meanwhile, the Vietnam Seafood Association will focus on 3 key markets of Korea, China and Middle East to decrease its dependence on major markets.

Right from 2010, the Ministry of Trade and Industry worked with groups, companies and associations as well as foreign enterprises to check their capacity of product and export market in a bid to set out measures for export promotion. The Ministry of Finance also adjusted export and import taxes for some items to offer a maximum assistance for export promotion.

Reported by T.Khiem – Translated by A.C