HCM City eyes 10 percent growth in export in 2021

Ho Chi Minh City’s Department of Industry and Trade has set the target to export 48.19 billion USD worth of products in 2021, a year-on-year surge of 10 percent.

Wednesday, February 24, 2021 10:00

HCM City eyes 10 percent growth in export in 2021 ảnh 1

Shrimps processed for export (Photo: VNA)

HCM City (VNA) – Ho Chi Minh City’s Department of Industry andTrade has set the target to export 48.19 billion USD worth of products in 2021,a year-on-year surge of 10 percent.

Under its development plan for 2021 recently submitted to the municipal People’sCommittee, the sector said import revenue is estimated at 56.47 billion USD forthe whole year, up 11 percent against the previous year.

Besides, it eyed to reel in more than 835.68 trillion VND (36.29 billion USD) from retailsales and services revenues in the year, up 10 percent year-on-year.

The department said it will carry out necessary measures in a comprehensivefashion to branch out industry and trade, contributing to promoting economicrecovery of the southern hub.

Earlier, HCM City set a goal of boosting the export of its key products thisyear and beyond via trade promotion activities and assistance to enterprises.

Head of the statistics office Huynh Van Hung said COVID-19 has been largelybrought under control around Vietnam, resulting in the production sectorexhibiting signs of recovery. Local enterprises, however, continue to facedifficulties as many major trading nations are yet to open their markets.

He noted that enterprises are in need of diverse and long-term support relatingto information on importers of materials and fuel, new markets and partners,and domestic consumption stimulus measures.

According to Nguyen Phuong Dong, Director of the municipal Department ofIndustry and Trade, despite facing myriad challenges, last year the city stillsaw five goods post export turnover in excess of 1 billion USD:computers-electronic products and components, with 17.8 billion USD;garment-textile 4.3 billion USD; footwear 2.2 billion USD;machinery-equipment-spare parts 2.2 billion USD; and other goods 6.9 billionUSD. Together their export value accounted for 83.5 percent of the city’stotal.

Key export markets remained China, the US, and Japan. China imported 10.5 billionUSD worth of goods from HCM City last year, up 23.7 percent year-on-year.Exports to the US and Japan, meanwhile, stood at 6.7 billion USD and 2.8billion USD, down 0.2 and 16 percent, respectively, year-on-year./.

VNA

#Department of Industry and Trade #Ho Chi Minh City #import revenue #economic recovery #key products #Vietnam News Agency #Vietnamplus Ho Chi Minh City

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