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Dong Nai Maintains Strong Trade Surplus

(News Portal – Dong Nai) - Over the past 10 years, Dong Nai has consistently held its position as one of Vietnam's largest production and export hubs. The province's trade surplus has continued to rise, reaching approximately $6.7 billion in 2024, the highest in its history. 

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Wood products are currently one of Dong Nai's key export sectors. 

The significant increase in trade surplus is attributed to the enhanced production and export capabilities of businesses within the province. Additionally, Dong Nai has implemented numerous measures to help businesses develop supporting industries, boost local exports, diversify markets, and leverage competitive advantages from free trade agreements (FTAs).

Rapid Growth in Trade Surplus

Looking back a decade, in 2014, Dong Nai achieved its first trade surplus with a surplus value of $500 million. By 2022, the province's trade surplus had grown to $5.7 billion, increasing to $5.93 billion in 2023. In 2024, Dong Nai's export turnover reached $23.4 billion, an increase of 8.5%, with a trade surplus of approximately $6.7 billion.

Dong Nai is among the few provinces that consistently maintain a trade surplus and contribute a significant share of Vietnam's total trade surplus. Over the years, the province's export turnover has accounted for 6-8% of the country's total export value. Dong Nai consistently ranks sixth or seventh among the provinces with the highest export turnover in Vietnam.

The high trade surplus is primarily due to the development of supporting industries within Dong Nai. Many foreign direct investment (FDI) enterprises in the province have secured local input material supplies, reducing reliance on imports. According to Mr. Brendan Sunderland, Vice President and Technical Director at Bosch Vietnam, the company does not differentiate between foreign and local suppliers as long as they meet international standards. Bosch actively participates in business forums, summits, and exhibitions to build a strong network of suppliers and customers.

Ms. Nguyen Thi Hoang, Vice Chairman of the Provincial People's Committee, shared that beyond traditional markets, Dong Nai will actively assist businesses in finding new orders and partners to diversify their markets. Recent visits by provincial leaders to countries such as Japan, China, India, and Australia have provided a foundation for businesses from both sides to boost trade and cooperation.

To balance and maximize competitive advantages in exports, Dong Nai aims to maintain the proportion of manufacturing and processing exports at 88% of the province's total export turnover by 2025, increasing to 90% by 2030. Alongside manufacturing and processing, agricultural and forestry products, as well as specialty goods from craft villages and the One Commune, One Product (OCOP) program, remain key advantages for Dong Nai.

Supporting Businesses to Expand Exports

Local Vietnamese businesses in Dong Nai are also striving to upgrade themselves to meet high international standards, thereby exporting their goods and services. Mr. Nguyen Duy Hung, Vice Chairman of the Dong Nai Import and Export Association, noted that many markets now impose stricter requirements on imported goods. For example, the European market demands high standards for clean and green production processes. Meeting these new trends poses challenges for small and medium-sized enterprises (SMEs) in Dong Nai, but overcoming these challenges presents significant opportunities for growth.

Mr. Le Bach Long, Chairman of the Dong Nai Young Entrepreneurs Association and Director of Nam Long Co., Ltd., shared that his company has successfully exported products to South Korea and Japan and is exploring new markets in the Middle East and Australia. The Young Entrepreneurs Association frequently collaborates with other organizations to provide training, sign cooperation agreements, and connect with domestic and international businesses to enhance the production and business capabilities of its members.

Mr. Thai Thanh Phong, Deputy Director of the Department of Industry and Trade, emphasized that Dong Nai always works closely with businesses to address challenges and ensure smooth operations. The province organizes numerous trade promotion events within Vietnam and in potential international markets, offering businesses opportunities to connect and expand their export markets, reducing reliance on a few major markets.​

Dong Nai is actively promoting exports by increasing the share of value-added processed goods, strengthening key export sectors, and introducing competitive new products to regional and global markets. The province is also enhancing cooperation and information exchange with trade promotion organizations in the region, commercial counselors in foreign countries, and international organizations to expand and develop its distribution and export systems. 

Author: Bao Nguyen

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