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Home News HCM City shifts to high-end exports

HCM City shifts to high-end exports

alt Ho Chi Minh City, a major economic hub of Vietnam, will strives to increase the export of processed industrial products of high added value as part of its exports restructuring programme for 2011-2015 period.

By 2015, earnings from industrial items alone are set to make up 54.4 percent of the city’s total export turnover.

At the same time, major foreign currency earners such as garment-textile and footwear must maintain a stable growth, while export of raw materials and unprocessed should be reduced.

In order to further back the goal, the city has also placed focus on the development of supporting services like logistics, consultation and technical assistance.

Ho Chi Minh City has set the target of raking in over 34 billion USD from exports in 2013, a year-on-year increase of 13.5 percent.

As the export markets are predicted to have difficulties, the Municipal Department of Industry and Trade has warned local exporters to get their coping measures ready.

The businesses are advised to diversify products, strengthen their presence in the traditional markets of Europe, the US and Asia, while seeking new potential outlets in Africa, the Middle East, South America and Oceania as well as taking part in the global value chain, especially in the process of design and distribution.

In 2012, the city exported to 228 countries and territories, marking an increase of four new markets compared with 2011.

In addition, the city aims to rein in import turnover in luxurious consumer goods but increase the purchase of machineries, equipment and technology from developed countries this year.-VNA


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