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Home / Economy / Trade - Service
Hanoi attempts to reach export growth's target in 2018
Cam Anh 14:36, 2018/02/08
First month of 2018 witnessed skyrocketing export turnover of Hanoi. Nevertheless, the export growth target of 7.5 - 8% still craves for much effort from the city authority to be fulfilled.
The export turnover of Hanoi reached US$1.047 million in January, an on-year increase of 24%. Of which, the state-owned sector gained US$139 million, up by 9.8% against same period of 2016, while that of non-state enterprises was estimated at US$352 million, up by 16.6% and FDI companies gained some US$556 million.
Manufacture electric circuit in Meiko Electronics Vietnam Company. Photo: Thanh Hai
Manufacture electric circuit in Meiko Electronics Vietnam Company. Photo: Thanh Hai

Especially, all key export items are growing strongly, in which agricultural products increased by 13.6%; computer components and peripherals rised by 68.1%; means of transportation and spare parts increased by 12.7%; machinery and spare parts increased by 21.8% while glass and its products rose by 25% over the same period in 2017.
As observed, businesses have taken advantage of the recovery in major economies such as the US, Japan, European Union (EU) and China. More importantly, some measures by Hanoi authority proves efficiency in supporting enterprises such as banks - enterprises connecting program, the tax and land policy adjustment. The city officials also find solutions to encourage enterprises apply high technology into production, processing and consumption.
As a stark example, Director of Hanoi Promotion Agency (HPA), Nguyen Gia Phuong noted some recent innovation in policy adjustment.  “We has continuously organized the trade promotion programs through participation in large international fairs”, said Phuong. At the same time, the agency also welcomed international delegations to operate in Hanoi, thereby supporting the agricultural and textiles village to seek for customers, the Head of the Agency added.
Despite significant growth in the first month of the 2018, Hanoi’s export growth remains an ambitious one. The foreign partners require high technology, while Hanoi enterprises are limited in inking long-term contracts.
In terms of agriculture, China - one of the big importers of Vietnam, has tightened plant quarantine policy, posing challenges to products exported to. Meanwhile, for others market such as US, the EU and Japan, Hanoi enterprises still face barriers in quality and safety requirement. In addition, exports are still heavily dependent on the FDI sector, where the group of high value-added processing and manufacturing products is dominated by FDI enterprises.
Hanoi official also have long-term support for enterprises. As such, the city would continue to support business on loans and market access, according to Nguyen Thanh Hai, Deputy Head of Hanoi Department of Industry and Trade. Specifically, trade promotion activities in Japan, China, Hong Kong and Germany shall be strengthened.
At the same time, they shall welcome foreign import enterprises to enable businesses diversify the export market. "In the early days of February 2018, HPA organized a delegation to participate in the International Fair of consumer goods held in Germany, creating opportunities for enterprises producing handicrafts and gifts to promote products, seek for partners and increase export turnover, " specified Hai. The Department would keep reforming the administration procedures, simplify business investment requirement and improve the quality of online public services. Especially, in export sector restruction process, it will focus on improving the products competitiveness, investment efficiency and enterprise participation capacity, added Hai.
On the other hand, experts advise Hanoi enterprises to directly participate in production process to increase product quality. At once, it is necessary for them to take initiative in innovating the models to suit the tastes of respective markets, reduce costs to increase competitiveness, improve product quality, set brand names as well as establishing partnerships and cooperation with other enterprises.
 
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