Hanoi’s export value up 24 percent in January
Hanoi gained a year-on-year growth of 24 percent in export value to reach 1.05 billion USD in January (Photo: VNA)
The capital city of Hanoi gained a year-on-year growth of 24 percent in export value to reach 1.05 billion USD in January.
The export value from the state-owned sector was 139 million USD, up 9.8
percent; it was 352 million USD from the private sector, up 16.6
percent; and 556 million USD from foreign direct investment, up 33.6
In January, all key export items achieved strong growth in export value,
including agricultural products (up 3.6 percent against the same period
last year); computer, components and peripherals (up 68.1 percent);
transport means and components (up 12.7 percent); machinery and
components (up 21.8 percent); and glass and glass products (up 25
Hanoi’s export value has increased sharply in recent years because
businesses in the city have taken advantage of the recovery of major
economies of the world, such as the United States, Japan, the European
Union and China.
Meanwhile, municipal authorities have also come up with solutions to
support enterprises in promoting exports, including programmes
connecting banks with enterprises, land and tax policies and policies
encouraging enterprises to apply advanced technology for production,
processing and consumption.
Nguyen Gia Phuong, Director of the Hanoi Investment, Trade and Tourism
Promotion Centre, said to support enterprises in expanding export
markets and promoting brand products, the centre had continuously
organised delegations of enterprises to join large international fairs
and paid special attention to markets that signed free trade agreements
The capital city has welcomed foreign enterprise delegations to Hanoi to
facilitate trade cooperation with local businesses to support trade
villages, agricultural production enterprises and textiles and garment
companies in seeking customers.
However, it will not be easy for Hanoi to reach the growth target of
7.5-8 percent in export turnover set by the People’s Committee of Hanoi
for this year against last year because importing countries have trade
barriers and quality standards for imported goods from foreign
countries, including Vietnam. Moreover, local enterprises have not
signed long-term contracts.
Nguyen Thanh Hai, Deputy Director of the Hanoi Department of Industry
and Trade, said the department and the People’s Committee would continue
supporting enterprises in taking loans and entering export markets.
Specifically, they would strengthen trade promotion activities in Japan,
mainland China, Hong Kong and Germany, he said.
"Hanoi welcomes delegations of foreign import enterprises to help local businesses diversify the export markets," he said.
The department would also continue administrative reforms, reduce
business and investment conditions and improve the quality of online
In the process of restructuring the export sector, the department would
focus on improving the competitiveness of products, efficiency of
investment and enterprises’ ability to join the global value chain.
Experts said to increase the export value, enterprises should renew
models of products according to the demand on markets and increase
competitiveness by cutting production costs. They also need to improve
product quality and develop the brand as well as promote cooperation
with local businesses. In addition to this, they should take advantages
in export opportunities from free trade agreements that Vietnam has
signed with foreign partners.-VNA