ASEAN KEY DESTINATIONS
HCM City sets target of export upsurge
HCM City aims to post export turnover of US$34 billion this year, a year-on-year increase of 13.5 per cent, according to the City’s department of industry and trade.
The ambitious target demonstrates the city administrators’ eagerness to shift the nature of exports during the 2011-15 period.
With the goal of achieving an annual growth rate of 13 per cent, the city hopes to increase the export of industrial products by 13.1 per cent each year, agro-forestry and fisheries products by 11.9 per cent and other commodities by 14 per cent.
The city will focus on exporting highly-valued industrial products as well as software and digital content. As planned, industrial products will account for 54.4 per cent of the city’s total export turnover, and high-tech and software products will also constitute a significant percentage of exports.
In contrast, unprocessed products with a low value will see fewer exports, except for crude oil. Agro-forestry and seafood products will account for only 23.1 per cent of exports. Export growth of garment and footwear will be maintained.
The city will also make every effort to keep total import costs low, around $29 billion.
The HCM City Department of Industry and Trade warned local businesses to diversify their products, both in terms of design and distribution channels, and seek more importers.
According to the department, the growth rate of the city’s export turnover was 12.5 per cent last year and export turnover reached $29.9 billion - an increase of 63 per cent against 2011.
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