Effectively exploiting the recovery of export markets

Grasping the recovery signals of the world market and the efforts of the business community, the companionship, sharing, and removal of difficulties in the production and business process of all levels and sectors have truly become an important driving force, promoting the province's export sector to recover and achieve stable growth in the first 6 months of this year.

YB Vietnam Co., Ltd. (Bai Ba Industrial Park - Dong Thanh, Thanh Ba District) specializes in manufacturing vibration motors for mobile phones, products for export to the Korean and Japanese markets...

Positive signal

The province currently has over 290 enterprises operating in import and export, most of the major markets and trading partners have recovered well and achieved high growth in the first 6 months of the year. The total value of import and export turnover of the province in the first 6 months of the year accounted for about 3.8% of the total import and export turnover of the country, ranking 3rd out of 15 provinces in the Northern Midlands and Mountains. The export turnover value is estimated at over 6.5 billion USD, up 28.2% over the same period. The main export items are electronic components and equipment, garments, canvas, PP, PE packaging, tea... The import turnover value is estimated at over 6.3 billion USD, up 69.7% over the same period.

After a period of adaptation, the province's enterprises have a better grasp of the requirements and regulations of the export market; focused on increasing growth rates for key markets, traditional markets and promoting the development of niche markets and potential markets. In particular, the capacity of the province's export enterprises has been increasingly improved, increasing their ability to cope with unusual situations and developments in the market. Along with that, the province's investment attraction results in recent times have been quite good, many projects have been started, production has been expanded, new industrial production projects have been put into operation, creating more capacity for production development and export goods sources.

The Provincial Industrial Parks (IPs) Management Board currently directly manages the IPs in the area and the two industrial clusters (ICs) Dong Lang and Bach Hac. The export value in the zones and ICs accounts for over 80% of the total export value of the province.

Comrade Nguyen Ngoc Hanh - Head of the Provincial Industrial Park Management Board said: "The Management Board always shares, accompanies, and creates all favorable conditions for enterprises to invest and do business; strengthens dialogue activities, information exchange, and guides enterprises to access new legal policies as well as implement investment regulations. Thereby, contributing to promoting production and business activities, boosting exports of enterprises".

Hanyang Digitech Vina Co., Ltd. (Phu Ha Industrial Park, Phu Tho Town) specializes in manufacturing electronic components. In the first 6 months of this year, the Company's export turnover reached over 4 billion USD. Mr. Choi Dong Hyeon - Director of the Company said: "A good sign for 2024 is that we have negotiated to get orders and produce new products with partners who are large corporations in the world such as IBM, HP, Dell. The Company also successfully maintained the AEO certification - Priority Enterprise in the field of customs of the General Department of Customs. In the coming time, we will continue to develop export goods sources, meet quality requirements, increase added value, ensure jobs and income for more than 1,500 workers".

In addition, enterprises also take advantage of the opportunities brought by Free Trade Agreements (FTAs), participate in new value and production chains in the region, promote the export of agricultural, forestry, processing and garment products to the markets of FTA member countries; import and export procedures are simplified, reducing time and costs...

From there, enterprises have more opportunities to participate in the supply chain, meet the requirements of global production chains in corporate governance; self-evaluate their ability to restructure production, choose investment options and plans to produce products suitable to the market needs of importing countries.

Phu Tho Customs Branch reviews enterprises' customs declarations on the management software system.

Accompanying businesses

In the last months of the year, in general, the global economy has not yet come out of the difficult period, the prices of gasoline, raw materials, freight rates and world gold prices have fluctuated strongly, creating pressure on inflation, global growth and import and export activities. Since the beginning of 2024, the world's vital shipping routes through the Red Sea have been severely affected by escalating geopolitical conflicts in the Middle East. The increase in shipping rates, congestion at some Asian ports and the shortage of empty containers have impacted and affected domestic import and export goods.

In order to effectively exploit the recovery of world market consumption and overcome difficulties and challenges, the functional sectors and localities of the province have been implementing active solutions to support enterprises in expanding production, promoting trade and consuming products. Focusing on investing in completing and synchronously developing technical infrastructure of industrial zones and clusters to create a favorable space for enterprises to invest in production and business.

The province has strengthened investment and trade promotion activities, accelerated administrative procedure reform, shortened the time for processing documents, reduced costs for businesses, supported import and export activities, especially ensuring quick and convenient customs clearance of goods. The provincial Customs Department has promoted the application of information technology in the professional work of the industry, implementing level 4 online public services for all professional stages. The implementation of the electronic tax payment and 24/7 customs clearance system helps businesses save time and costs, contributing positively to improving the investment and business environment of the province.

Enterprises are supported and advised on trade promotion, finding partners, expanding product consumption markets; effectively exploiting market opportunities and incentives in the spirit of trade agreements. In the first 6 months of 2024, the province's functional sectors have connected 3 enterprises to participate in exporting to FTA markets; connected 2 enterprises to participate in on-site import and export; connected 2 production facilities to prepare the necessary conditions to participate in exporting forest products to the markets of Japan and Taiwan (China).

According to Mr. Nguyen Viet Dung - Director of the Department of Industry and Trade, in the coming time, the Department will focus on promoting trade and export activities for key markets, making the most of export potential. At the same time, coordinate with relevant units to support enterprises in implementing export promotion activities in new markets; provide market information, create trading opportunities to increase traditional market share, and exploit new markets to the fullest. Improve information and propaganda work, disseminate knowledge about international economic integration for enterprises, increase competitiveness, and respond to trade "barriers".

Nguyen Hue

Source: https://baophutho.vn/khai-thac-hieu-qua-su-phuc-hoi-thi-truong-xuat-khau-216507.htm