CATEGORIES

© Copyright 2004; Hanoitimes - Economic and Urban Newspaper;

The tribune of Hanoi People’s Committee

Publication Permit: 29/GP-CBC

Editor - in - Chief: Nguyen Thanh Loi

Managing Editor: Ta Thu Giang

Email : thugiang@hanoitimes.vn

Head Office: 21 Huynh Thuc Khang Street, Dong Da District, Hanoi

Branch Office: 221 Tran Phu Street, Ha Dong District, Hanoi

70th anniversary of Hanoi's Liberation Day Vietnam - Asia 2023 Smart City Summit Hanoi celebrates 15 years of administrative boundary adjustment 12th Vietnam-France decentrialized cooperation conference 31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Economy / Trade - Service
Significant progresses in Hanoi export
Ngoc Thuy 12:46, 2017/10/11
Despite the value of Hanoi export in the first 9 months has reached nearly 8.6 billion USD, up 7% compared to the same period of 2016, but the number is still lower than the target number of 2017 of 11.1 billion USD, which requires more efforts from the city and enterprises in the remaining months.
According to the Hanoi Department of Industry & Trade, the value of export in September reached 969 million USD, reduced 1.3% compared to August. Despite a slightly decrease, the accumulated value of export in the first 9 months reached 8.6 billion USD, up 8.7% compared to the same period of 2016. In the recent 9 months, some products have increased in export compared to the same period of last year, including: computers and related components and products increased 19.3%; Equipment and accessories up 24.1%; Agricultural products up 8.9%; Transport vehicles and accessories up 32.1%; Electronic products up 41.1%; shoes and leather products up 7.7%; traditional craft products up 13.4%. 


The value of Hanoi export in recent times has increased significantly, showing that enterprises have taken advantage of the recovery of major economies in the world, such as the US, Japan, European Union (EU) and China. At the same time, the stable exchange rate between Vietnam and the USD, while the value of VND currency has appreciated compared to other currencies are reasons to stimulate the export. Most importantly, Hanoi has implemented supporting measures for export enterprises through the programs connecting banking – enterprises and other policies related to taxes, lands, encouraging enterprises applying high technologies, supporting industries, manufacturing, processing and agricultural products consumption. In particular, the Hanoi People’s Committee has issued the plan No. 89/KH-UBND including 10 solutions to support enterprises overcoming difficulties, maintaining and expanding the export markets. 

Director of Hanoi Promotion Agency (HPA) Nguyen Gia Phuong said: in order to support enterprises to expand export market, promoting products and brands, HPA has continuously held promotional events abroad through participating in large scale international trade fair. In which, HPA pays special attention to markets which has had free trade agreements (FTA) with Vietnam. At the same time, HPA also organized events to receive international enterprises to work at Hanoi, with a view to support traditional craft villages, and agricultural enterprises to look for distribution channels.

Despite Hanoi has achieved significant growth in export, but in order for the export to meet the target value of 11.1 billion USD, is to require more efforts from the city and enterprises in the remaining months. Besides, agricultural products from Hanoi and Vietnam have not had their own brands to position in the world market, while the quality is still inconsistent. Rice product contributes to nearly 2.5% of the Hanoi export, but with fierce competition from Cambodia and Thailand, the export value has been decreased recently.

Reality shows, if enterprises can take advantages of the FTA between Vietnam and major markets such as Korea, EU, the Eurasian Economic Union (EAEU), export will have more potential to grow. As such, it would require enterprises to focus on the strength of Vietnam on particular fields to compete with competitors in the world market. 

In the coming time, the Hanoi Department of Industry & Trade and the Hanoi People’s Committee will continue supporting enterprises to look for loan and new market. Specifically, the Department will increase trade promotion at Japan, China, Hong Kong and Germany. However, in addition to the support from local government, enterprises need to be active in enhancing productivity, quality and developing brands to meet the high demand in the context of global economic integration. 
Comments
Other news
15:49, 2024/04/17
Vietnam’s stock market remains attractive investment channel: Expert
Given favorable macroeconomic conditions, combined with the expected rate cut by the Federal Reserve (Fed), the stock market is believed to experience strong growth.
15:19, 2024/04/16
Cuba appreciates Vietnam’s support in food and fisheries production
Both sides aim to further promote trade, investment relations, and cooperation in areas of mutual interest, such as agriculture, construction, education, pharmaceuticals, science and technology, among others.
12:38, 2024/04/13
Vietnam, China to step up cooperation strategy for mutual development
Both sides are expected to build a bridge over the Red River in the border area of Bat Xat, Lao Cai (Vietnam), and Ba Sai, Yunnan (China), among other initiatives.
17:04, 2024/04/12
PM orders urgent measures to address volatile gold prices
The measures are aimed at ensuring a stable and efficient gold market.
17:58, 2024/04/10
Vietnam earns US$1.4 billion from rice exports in Q1
Vietnam is targeting $5 billion in rice exports this year. The country currently ranks third in the world in terms of rice exports.
11:15, 2024/04/09
Russia’s Zarubezhneft Group explores opportunity for offshore wind projects in Vietnam
Both sides are expected to set up a joint working group to strengthen cooperation in oil and gas projects.