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Hanoi’s export likely to fall short of target
Hanoi will possibly fail to fulfill its yearly export target which was even set to remain unchanged from the 2008 figure, a trade official has said.
The city is likely to earn a monthly export turnover of 594-628 million USD during the remaining months of this year provided that the world economy enjoys positive changes, purchasing power bounces back and prices of goods increase again, said Nguyen Manh Hoang, Deputy Director of the municipal Department of Industry and Trade.
However, if these figures are reachable, Hanoi ’s yearly export revenues are estimated at only 6.5-6.58 billion USD, representing a drop of 5-6.5 percent from 2008, said Hoang.
In this context, the city’s exporters have proposed Hanoi authorities and the concerned ministries and agencies to remove barriers hindering the flow of exports and create more favourable conditions for export enterprises.
According to the trade official, Hanoi has raked in more than 4.7 billion USD from exports since the beginning of this year, a year-on-year drop of 11.2 percent.
He attributed the decrease to falling prices of goods, particularly in the first two quarters, and dropping demands in key markets such as the US and the EU.
Growing number of anti-dumping and anti-subsidy lawsuits against local businesses are also a reason behind the city’s reduced exports, Hoang said.
To lay a foundation for exports in 2010, Hanoi plans to boost the export of its advantaged products to major markets, including the US , the EU, Japan , China , Africa and West Asia .
The city will also streamline administrative procedures, especially for tax and customs, and co-ordinate with overseas Vietnamese trade offices and local and foreign trade promotion organisations to help companies participate in trade fairs and exhibitions both at home and abroad, and study new foreign markets, Hoang said.
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