Export turnover of Khanh Hoa Province in 10 months reached USD1.315 billion while its target for the whole year 2019 is USD1.35 billion.
Export turnover of Khanh Hoa Province in 10 months reached USD1.315 billion while its target for the whole year 2019 is USD1.35 billion. By this time, it is believable that the province's export turnover in 2019 will exceed the set target.
Ship export in positive progress
According to the provincial Statistics Office, in 10 months of 2019, the export turnover of goods in the province was estimated at USD1.315 billion, a 17.4% increase over the same period last year. In the 10-month export, ship export made an outstanding growth with a turnover of USD489.5 million, rising by 42.4% over the same period last year.
According to Deputy General Director of Hyundai Vinashin Shipyard Co., Ltd. (HVS) Le Van Toan, the company has set a plan to hand over 16 ships and laying keels of 14 ships. Up to now, the company has delivered 15 ships. It is expected to hand over the other in December. With positive signs in ship export, the company now has a production plan for 2020 with 14 ships to be handed over to ship owners. The company will also prepare facilities, train skills for laborers to renovate production plans in the coming time.
Besides shipping, the export turnover of textile and apparel industry in the first 10 months of 2019 also increased by 17.6% year-on-year (estimated at USD64.4 million); aquatic products with USD522 million increased by 9.73%; wood and wood products increased by 9.09%; coffee increased by 4.6%... Regarding the export market of the province, Panama is the largest export market with a turnover of USD 384.8 million, an increase of 1,000 times compared to the same period last year; Taiwan increased by 4.3 times; China increased by 2.06 times. The traditional markets still maintained a stable growth such as the US (26%), South Korea (23.6%) and Singapore (6.9%).
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Targets to be fulfilled and exceeded
According to the forecast of Industry and Trade, by the end of 2019, the province's export turnover will exceed the target by more than USD100 million. The forecast is based on the production plan of HVS and seafood businesses which are entering the peak period of export for the year-end time.
Deputy Director of the provincial Department of Industry and Trade Tran Van Ngoan said that this year, the province's exports grew well thanks to the improvement in production capacity of enterprises, especially the key export industries like seafood, ship, textile, etc. In addition, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and trade agreements which have entered into force have affected the economy of the country in general and Khanh Hoa Province in particular. The seafood export industry has many good signs. In particular, from August, Vietnamese shrimp products exported to the US are subject to the tax rate of 0%, which will create momentum for the development of seafood enterprises of the province. The world's shipping industry is recovering and tends to develop strongly, especially large-tonnage ships; therefore, ship export will also be very positive. However, in the coming time, due to the impact of trade agreements, the export growth of some industries will face difficulties and show signs of reduction like textile, tobacco, sugar...
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Currently, the Industry and Trade sector is reviewing and basing on the production plans of enterprises for 2020 to set export targets for the following year. The sector also has solutions towards more sustainable export such as organizing conferences to popularize trade agreements and solutions and policies of the State to support enterprises, organizing seminar on exploring new markets, strengthening trade promotion, etc.
Mai Hoang
Translated by T.T
