HANOI: The southern province of Đồng Nai generated more than US$4.7 billion from exports in the past four months, up 5 per cent year-on-year, according to the provincial People’s Committee. During the reviewed period, the province recorded a trade surplus of $644 million, making up 40 per cent of the country’s total surplus.
The foreign-invested sector contributed approximately $3.9 billion, or 80 per cent of the province’s four-month export turnover, the committee said, adding that foreign-funded enterprises have benefitted the most from the ASEAN Economic Community and free trade agreements that Việt Nam inked with many countries and blocs.
Thanks to these FTAs, the inflow of foreign direct investment to the province, especially from Japan, South Korea and China, continued to increase significantly in recent years. For example, the province had attracted over $3.71 billion worth of Japanese investment by the end of April.
Meanwhile, the State-owned and private sectors made up over $80 million and $666 million, respectively, of the province’s total export value in four months. Earlier this year, Đồng Nai’s Department of Industry and Trade expected that the province’s export turnover was likely to enjoy a boost of 10 per cent compared to 2015.
Exports of the locality’s key commodities would increase, thanks to the recovering global market, said vice director of the department Dương Minh Dũng. Last year, the US was the leading market for provincial exporters, with a total goods value shipped to market reaching over $4 billion, while the import turnover from the country was $1 billion.
It was followed by Japan, with nearly $1.3 billion in export turnover, and $700 million in import value. The province’s export and import turnovers to six ASEAN countries, including Indonesia, Thailand, Cambodia, the Philippines, Singapore and Malaysia, hit $1.5 billion and $600 million, respectively, with main commodities being textiles, footwear, computers, electronics, wood and wooden products.
