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HCMC eyes 17% export growth
The southern hub of HCM City aimed to post an annual export growth rate of 17 per cent from now until 2015, earning a total turnover of around US$100 billion, excluding crude oil.
These figures were announced during a conference held on Wednesday to review the city's exports over the past four years and draw up action plans for the following five years.
To reach these goals, the city planned to maintain export growth of commodities with high turnover and potential, said the municipal People's Committee.
Accelerating its service exports and enhancing the presence of the city's export goods in the vast European, American and Asian markets would also be a priority, it said.
Attendants at the conference suggested the city's authorities should continue to implement export support programmes on software products and services, aiming to enhance the added value from software outsourcing to production and establish a logistics centre at Cai Lai Port in an attempt to promote local exports.
The city recorded an average annual export growth of 18.5 per cent over the past four years, exceeding the target of 17.4 per cent per year, according to the municipal Department of Industry and Trade.
Agro-forestry and fisheries products faced difficulties with raw material sources as well as varying standards and taxes in foreign markets. However, the group also reached average export growth of 18.7 per cent per year, surpassing the target of 7.3 per cent.
Meanwhile, due to the impacts of surging costs and lowered competitiveness, the industrial sector reached an average export growth of only 17.5 per cent per year, lower than the previous target of 21.7 per cent.
Over the first seven months of this year, the city generated over $15 billion from exports, a surge of 21.7 per cent against the same period last year. During that period, exports from the State-owned sector rose by 22.5 per cent, while the foreign-invested sector was up 19.4 per cent.
Among the city's key export items were garments and textiles, footwear, seafood, agricultural products and electronics while the US, ASEAN, the EU, Japan and mainland China remained its major outlets.
However, inadequate support industries, low value export goods due to outsourcing and the high deposit interest rate remained challenges for domestic exporters, agreed attendants.
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