A breakthrough year for Ha Noi’s exports

To attain such impressive results, right from the beginning of the year, the capital city implemented many trade promotion, cooperation and support activities for businesses. Hence, Ha Noi’s exports reported a sharp breakthrough last year, leading the country regarding the value.

Domestic companies outperform FDI enterprises

These results show that enterprises have proactively utilised the recovery of major economies, which are also the key export markets, such as the United States, Japan, European Union (EU) countries and China. 

The most outstanding spot in Ha Noi’s 2019 export picture is that the proportion of non-state enterprises saw a strong growth and overwhelmed the FDI sector. 

Deputy Director of the Ha Noi Department of Industry and Trade Nguyen Thanh Hai said although the three sectors of state-owned enterprises (SOEs), non-state companies and FDI firms recorded a high export growth rate compared to 2018, the share of the FDI bloc’s export goods no longer prevailed as previously.

Specifically, so far this year, the export turnover of SOEs has reached VND355.6 trillion (US$15.3 billion), while the respective values for non-state and FDI businesses were roughly VND2.015 quadrillion (US$86.77 billion) and VND173.49 trillion (US$7.47 billion). These figures have demonstrated the efficiency in the equitisation work and the promotion of the private economic sector.

According to economic expert Nguyen Minh Phong, in order to increase export revenue, Ha Noi needs to orientate and deploy solutions to boost the exports of products with potential to become its key products in the future, such as software, information technology and building materials, in addition to accelerating the exports of its strength commodities.

“The group of construction materials should start with the Middle East and Africa markets, where there is a great demand for construction materials but mainly have to import them,” Phong recommended. 

Professionalism in trade promotion improves

Director of the Ha Noi Department of Industry and Trade Le Hong Thang said that in an effort to support businesses in expanding their export markets, in 2019 the Ha Noi People’s Committee and the municipal Department of Industry and Trade strengthened trade exchange and promotion activities in Japan, China, Hong Kong (China), Germany and the United Arab Emirates, while collaborating with Hanoi Center of Investment, Trade and Tourism Promotion (HPA) to enable local businesses to attend international fairs and exhibitions in Africa.

It can be seen that, in order to achieve breakthroughs in export activities, Ha Noi has implemented many specific activities and renovated the method of supporting businesses towards professionalism, thereby attaining high promotion efficiency and saving costs. 

In addition, enterprises have paid attention to developing trademarks for their products, elevating their brands and building trust among foreign consumers for Vietnamese products.

In 2020, the city will synchronously implement measures to expand the market as well as developing traditional and potential markets for products with high competitiveness and added value or commodities with a large export turnover. 

The municipal agencies will also regularly provide enterprises with information about export markets and sectors and the FTAs in which Viet Nam participated.

In addition, the city’s relevant agencies will continue to work with foreign distribution corporations in Viet Nam to bring local enterprises’ products into the distribution chains; as well as form business delegations to attend international fairs in big and emerging markets and receive foreign enterprises visiting the capital to trade with domestic import and export businesses. 

Enterprises should focus on building brands for their exported products and winning over foreign consumers' trust for Vietnamese goods./.

By Vien Nhu