Dong Nai among the top cities and provinces in terms of excess of export over import

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 According to Dong Nai Department of Statistics, export and import turnover for the first four months of the province was over $ 5.8 billion and $ 5.1 billion respectively. Local goods have been exported to about 170 countries and territories. The main export markets of the province include the United States, Japan, Korea, China and Europe.

Export markets continue to expand

Since the beginning of 2018, the world market has witnessed fluctuations, but the growth rate of export turnover of Dong Nai is still maintained at approximately 13% over the same period last year. The largest export market of the province is the United States. Due to some drawbacks of the new protection policies, the goods eligible for export to this market tend to decrease. However, businesses have actively sought solutions to expand the market to ensure the high growth rate of production and export turnover.

Mr. Nguyen Van Thu, Director of GC Food Company in Ho Nai Industrial Zone (Trang Bom district), said: "The quantity of Aloe vera products exported to the US market has reduced but risen remarkably in Japanese, South Korean, Chinese markets. Therefore, the total export of the company for the first four months increased by more than 20%." Exporters in Dong Nai now often find more partners from many countries so that they don’t have to depend on only traditional markets.

According to Lee Sung Jae, General Director of DongJin Vietnam Joint Stock Company, Long Binh Industrial Zone (Bien Hoa City), the company specializes in manufacturing industry support products for mechanical industry and their major export market is Europe. For the first months of this year, the company's exports increased by about 10%.

Previously, many enterprises in Dong Nai exported goods through intermediary partners and countries, so the competitiveness is reduced compared competitors from other countries. But recently, businesses have tried to export directly, reducing the intermediary procedures to lower related costs, bringing about better competitiveness of exported products. In addition, many businesses also take advantage of opportunities from more than 10 free trade agreements signed in Vietnam to enjoy tax incentives.

More new records

According to forecasts of economic experts, exports of Vietnam as well as Dong Nai this year will continue to set a new record. Dong Nai will still be in the top 5 cities and provinces to lead the country in terms of export turnover. It was not until 2017 that Vietnam officially shifted to excess of export over import. However, Dong Nai had done so two years earlier, export surplus in subsequent years has been higher over the same period. Enterprises tend to find domestic raw materials to increase the localization rate of products and reduce reliance on import. This is one of the factors required if the enterprise wants to enjoy tariff preferences when exporting goods to countries that have signed a free trade agreement.

The main export items of the province that still maintain the relatively high growth rate include textile and garment with 15%, textile fibers with 18%, footwear with nearly 10%, computers, products electronics and components with nearly 20%, cashew nut with 50%... over the same period last year

Mr. Bui The Kich, Chairman and General Director of Dong Nai Garment Corporation, said: "For the first four months of 2018, garment export turnover of the company into the main markets such as the United States, South Korea and Japan increased about 15%. The quality of the company's textile products is qualified for export standards, so the consumption market expansion is going on smoothly."

Mr. Luc Van Thuy, Head of Trade Office of the Department of Industry and Trade, said that this year's exports are expected to set new records and increase by 12% over the previous year. At the end of this year, it is likely that the Vietnam - EU Free Trade Agreement will take into effect, which will boost exports to this market. "Enterprises in the province have been paying special attention to machinery and equipment, and applied science and technology to improve productivity and product quality to fulfill large orders. The Department provides support to businesses in connecting them with partners to supply products to each other, reducing imports to easily enjoy the tax incentives when exporting to countries that have signed free trade agreements," said Mr. Thuy.

With more opportunities, Dong Nai's exports will continue to have new breakthroughs.