Export turnover of Khanh Hoa Province in the first quarter of 2018 only grew by 1.09% year-on-year, but this figure was beyond the expectation. It showed that export businesses of the province have recovered after serve damage of the storm Damrey in 2017...
Export turnover of Khanh Hoa Province in the first quarter of 2018 only grew by 1.09% year-on-year, but this figure was beyond the expectation. It showed that export businesses of the province have recovered after serve damage of the storm Damrey in 2017.
Efforts in export
Export turnover of the province in the first quarter of 2018 hit USD361.03 million, increasing by 1.09% year-on-year and fulfilling 27.77% of the year’s target, the provincial Department of Industry and Trade reported. Export turnover in March particularly was USD148.08 million, rising by 2.3 times over that in previous month.
Some industries saw the decrease in export due to the storm Damrey in 2017, for example textile garment and materials (USD20.47 million, 5.06% down year-on-year) and ship building (USD136.27 million, 13.22% down). Main exports of the province still kept high growth in export like fishery (25,170 tons, worth USD118.45 million, 31.09% up in value), products made from rattan and bamboo (USD1.1 million, 9.62% up), etc.
The increase or decrease in export value is partly according to the world prices, but shows efforts of businesses in recovering production after the storm Damrey, especially ship building, textile garment, rattan – bamboo, etc. Le Van Toan, deputy director of Hyundai Vinashin Shipyard Co., Ltd. said, “Till March, the company’s factory backed to production. Despite the big damage in facilities due to the serve storm, the support from the mother company in Korea, the care of the local authority and the effort of the staff helped the company back to production.” Overcoming the difficulties to stabilize production and deliver products in time, the company has been highly appreciated by clients. Therefore, beside traditional clients and markets, the company has found a new client in Greece with an order of 15 ships.
As planned, Hyundai Vinashin Shipyard Co., Ltd. will build 14 ships and hand over 13 ships with expected turnover of USD408 million in 2018. In the second quarter of the year particularly, the company plans to hand over 2 ships to clients.
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Stable growth expected in the second quarter of the year
In 2018, the province has set a target of USD1.3 billion in export. According to the provincial Department of Industry and Trade, export of the province in the first quarter of 2018 was satisfactory, the State-own economic sector grew by 8.08% year-on-year, private economic sector and collective economic sector rose by 10.24%, FDI sector fell by 5.04%, mainly due to the decrease in ship building and textile. The storm Damrey has influenced a lot on operation of businesses. However, the businesses have repaired damages, stabilized production and attained good growth.
According to Deputy director of the provincial Department of Industry and Trade Tran Van Ngoan, textile is recovering well. Its operation has backed to normal now and orders are enough for the whole year. Fishery, the main industry of the province, is still on the rise. Therefore, export of the province is expected to grow well in the second quarter of the year.
Mai Hoang
Translated by T.T
