Capital eyes 7.5-8% export growth in 2018

February 16, 2018 12:00 AM GMT+7

VGP – The local authorities of Ha Noi has set a target of 7.5-8% in export growth in 2018 as compared to last year.

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Ha Noi earned US$ 1.04 billion from exports in January, up 24% from the same period last year. 

The revenue included US$ 139 million contributed by the State sector (up 9.8%), US$ 352 million from the non-State sector (up 16.6%), and US$ 556 million from FDI firms (up 33.6%), according to the municipal Department of Industry and Trade.

All key groups of commodities posted strong year-on-year export growth in January such as agricultural products (13.6%), computer components and peripheral devices (68.1%), transport vehicles and spare parts (12.7%), machinery and spare parts (21.8%), glass and glass products (25%).

Ha Noi’s export still depends on FDI companies which dominate the production of processed and manufactured products with high added value.

Nguyen Thanh Hai, Deputy Director of the municipal Department of Industry and Trade, noted the department and the Hanoi People’s Committee will support enterprises in terms of access to loans and markets, increase trade promotion in such markets as Japan, China, Hong Kong (China), and Germany, help local companies to diversify export markets.

The department also plans to push ahead with administrative reforms, abolish unnecessary business conditions, and improve online public services.

Ha Noi will pay attention to promoting products’ competitiveness, investment effectiveness, and businesses’ engagement in global value chains./.

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