Tien Giang earns record export revenue in Q1

The Mekong Delta province of Tien Giang earned a record export revenue in the first quarter of 2017, the provincial Department of Industry and Trade has said.

During the first three months of the year, the provincial export value reached US$627 million, which is around 27 per cent of its annual target and more than 50 per cent increase year-on-year, Ngo Van Tuan, director of the department, said. Around 58.5 per cent of this contribution came from foreign-invested enterprises.

Tien Giang’s major export products, including handbags, apparel, bronze pipes, processed seafood and footwear, have recorded a strong growth.

The export value of handbags and garments hit around $157 million and $128.5 million, a year-on-year surge of 52.3 per cent and 52.8 per cent, respectively. The export of bronze pipes stood at 14,000 tonnes, earning $93.3 million, up 38 per cent in volume and 60.8 per cent in value.

Processed seafood soared 57.3 per cent in volume and 56.3 per cent in value to 44,400 tonnes and $88.4 million.

America remained Tien Giang’s largest export market, accounting for 40 per cent of its exports, followed by Asia and Europe, which indicates that the province’s products met the strict quality and export standards set by American markets.

Since the start of this year, Tien Giang has been pushing for an action plan to implement the 2011-20 export-import strategy with a vision to 2030. Its focus has been on facilitating business development, creating favourable conditions for enterprises in developing export products and markets, and attracting investments.

Tuan said the province has closely watched enterprises’ production and business, especially of exporters of key products and large enterprises, and helped resolve many of their problems. The province has been focusing on development of new export markets to avoid dependence on one or two traditional export markets, he added.

The department has also shared detailed information about bilateral and multilateral free trade agreements between Viet Nam and its foreign partners with local enterprises to help them pursue new opportunities.

In 2017, the province expects to earn $2.35 billion from exports, up 11.4 per cent year-on-year.

Source VNS