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How to boost exports in the remaining months
Since early this year, Vietnam’s export turnover has reached US$43.3 billion, up 39.1 percent over last year. This shows that the export target of US$64 billion set for this year is within reach.
According to Phan Thi Thanh Minh, Deputy Head of the Export-Import Department under the Ministry of Industry and Trade (MoIT), high-growth export items so far have been agro-forestry and aquatic products, fuels, minerals, industrially processed products and small industry handicrafts.
In order to reach the export target of US$64 billion, in each remaining month, Vietnam should achieve US$6 billion in export turnover. However, the export situation is currently facing difficulties such as high inflation rates and soaring prices of essential goods.
The MoIT said that it is common to see high export growth in the second half of the year. However, thanks to measures to boost exports since early this year, some products with a high export growth such as rice, coffee and cashew nuts have already reached the targets set for this year.
At a recent Government briefing, Industry and Trade Minister Vu Huy Hoang said that it is difficult to make a breakthrough in export growth in the second half of this year as there will be no competitive edge in terms of the prices of key export products, thus causing a lot of difficulties to export activities by the end of this year.
Judging from the real situation, Chairman of the Vietnam Pepper Association Do Ha Nam said that while the pepper season has ended around 30,000 tonnes of pepper are in still in stock. If this amount is exported from now will the end of this year, we can earn approximately US$100 million. Pepper exports have basically reached the set target.
Sharing the same view, Phan Thi Thanh Minh said that from now until the end of this year, exports of coffee, pepper and rice will continue to rise while the export of processed and handicraft products has already reached the height of the season.
There should be no problem fulfilling the target of obtaining US$64 billion export value, Mrs Minh added.
Implementing active measures
To achieve an additional US$20 billion in the four remaining months of this year requires a great effort on the part of businesses.
Do Ha Nam said the pepper sector is planning to export 97 percent of its products. To fulfill this task businesses and farmers need better market information forecast to avoid risks.
Relevant agencies must better collect and analyse both domestic and foreign information, Mr Nam added.
Pham Thi Loan, general director of Viet A Industry and Investment Group said that to achieve long-term export targets Vietnam needs to improve the competitiveness of its domestic businesses and increase investment in technology to promote domestic production and the manufacture of hi-tech products.
Businesses must apply new technology and build their own trademarks while banks must adopt suitable policies to help businesses access capital, Mrs Loan said.
Phan Thi Thanh Minh admitted that businesses are now facing a number of difficulties in terms of capital and trade promotion. To help businesses remove this obstacle the Government authorized the Ministry of Industry and Trade to implement many effective measures.
In 2008, the MoIT has focused on launching a number of trade promotion programmes to encourage banks to provide capital to businesses. In early September, the MoIT opened an information gateway to overseas markets with more than 60 trade offices abroad providing latest information about markets and partners for export businesses.
VOV
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