Vietnam: Capital aims for 4.5% export growth in 2017

• May 24, 2017

The capital aims to generate US$11.1 billion from exports this year, 4.5 per cent higher than 2016, the municipal Department of Industry and Trade has said.

To achieve this goal, Hanoi will continue work on accelerating administrative reforms with special focus on customs, tax and business licencing procedures, as well as draw up effective policies.

Priority will also be given to improving the competitiveness of local enterprises and their export products, and attracting investment for infrastructure that is needed to promote export activities.

The city will also strengthen promotional activities, and provide businesses with more information on international markets and export products. Training sessions will be held for businesses to make them aware about export policies and regulations in Việt Nam and other countries so that they can meet international commitments and overcome trade barriers.

In 2016, the city’s exports rose by a modest 1.5 per cent to around $10.6 billion. The growth was much lower than the 7-8 per cent target set for the year.

This unsatisfactory export performance was the result of a fall in turnover of key export goods such as textiles and garments at $1.4 billion, down 5.7 per cent year on year; computer components at $1.29 billion, down 3 per cent; and farm produces at $889 million, down 8.4 per cent. — VNS

Source: http://vietnamnews.vn/economy/376953/capital-aims-for-45-export-growth-in-2017.html#wLxb2hhhR67OBBFM.99