Vietnam's exports set to surpass target

[onionkiller]

Vietnam's exports set to surpass
target
Published at
2013-10-02 15:24:50
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HA NOI: Vietnam is expected to see
an export turnover of US$131
billion this year, representing a 14
per cent increase from 2012.
According to a Ministry of Industry
and Trade (MoIT) forecast, turnover
would be four per cent higher than
the target set by the National
Assembly earlier this year.
Its figures revealed that in the first
nine months of the year, Vietnam's
export turnover was $96.46 billion, a
17.5 per cent rise over the same
period last year.
The processing industry accounted
for 69.7 per cent of the total, with
turnover of $67.24 billion,
representing 26.4 per cent year-on-
year increase.
Head of the ministry's Planning
Department Nguyen Tien Vy said the
industry was the standout performer
in the total import-export turnover.
Mobile phone and landline export
turnover rose 75.5 per cent, while
computers and spare parts saw a
45.3 per cent surge.
Vy said exports to the EU market in
the nine-month period saw the
highest growth rate at 22 per cent,
following by America (14 per cent)
and Asia (13 per cent) against the
corresponding period last year.
The foreign direct investment sector
retained its leading position in
exports, accounting for 60.5 per cent
of the total during the period.
Garments and textiles, shoes,
computer, electronic products and
spare parts from the sector made up
44 per cent of the total.
Head of the Import-Export
Department Phan Van Chinh added
that businesses had taken advantage
of commercial trade agreements to
accelerate exports.
Specifically, items which enjoyed
advantages from Certificates of
Origin (C/O) last month reached 60
per cent. In the South Korean
market, the rate was up to 90 per
cent, while that in Asean and Japan,
55 per cent.
Chinh said export turnover had been
on an upward trend, as the country's
exports traditionally surge in the last
months of the year.
However, he suggested that
enterprises should further make use
of preferential treatment gained
from signed commercial trade pacts.
In addition, management agencies
should further reform administrative
procedures to help grant businesses
a C/O.
He also called for tax payment
difficulties to be resolved and
guarantees to be given to exporters.
– By arrangement with the ANN/Viet
Nam News –

source. dawn.com