Bright spot of “billion dollar” exports

Posted on 21 January, 2025

Vinh Long province's socio-economic situation in 2024 will achieve comprehensive development results in all fields. Photo: NGUYEN KHANH
Vinh Long province’s socio-economic situation in 2024 will achieve comprehensive development results in all fields. Photo: NGUYEN KHANH

In 2024, the province’s socio-economic situation achieved comprehensive development results in all fields. Notably, the industrial production index increased by 13,84%; the province’s exports reached over 1 billion USD for the first time.

Bright spot of “billion dollar” exports

According to the Department of Industry and Trade, production and business activities in 2024 have recovered well, enterprises have export orders, raw materials ensure production, and workers meet the needs of enterprises. In addition, the Provincial People’s Committee regularly directs provincial departments and localities to grasp the production and business activities of enterprises, advise the Provincial People’s Committee on solutions to remove difficulties and support enterprises. The Department of Industry and Trade has implemented support policies such as: industrial promotion, trade promotion, support for e-commerce applications, etc.

The proportion of the non-agricultural economy is estimated to reach 2024% in 63,5 in the province’s gross regional domestic product (GRDP). The industrial production index in 2024 increased by 13,84% over the same period in 2023. Many industries have a fairly high production level compared to the same period in 2023 such as: leather production and related products; garment production; wood processing and products from wood, bamboo, and rattan; beverage production; medicine, pharmaceutical chemicals and medicinal materials production, etc.

According to Mr. Tran Nhat Thanh – Director of the Department of Industry and Trade, one of the brightest spots of the industry is that the export turnover in 2024 reached 1,035 billion USD, exceeding 28,97% of the 2023 plan, up 25,85% over the same period in 2023. This is the first year the province has an export turnover of over 1 billion USD.

In particular, export items increased sharply compared to the same period such as shoes of all kinds, means of transport and spare parts, vegetables and fruits, etc.

“The export turnover reaching over 1 billion USD is an event marking a new milestone for the province. Of which, enterprises in industrial parks account for about 80% of the export value. Even in 2024, the export value of the province has surpassed some large provinces and cities in the region. This is also one of the 1 typical events of the province in 10,” said Mr. Thanh.

In addition to implementing support activities, removing difficulties and obstacles for rural industrial establishments. Thereby, grasping the production and business situation of rural industrial establishments and the need to propose support for local industrial promotion funds…

Focus on promoting growth momentum

In 2024, the province met and worked with more than 30 domestic and foreign investors who came to learn about the province’s investment environment. Of these, there were 8 foreign investors (Japan, South Korea, etc.).

Accordingly, new investment policies/investment registration certificates were granted to 8 projects (6 domestic projects, 2 FDI projects) with a total registered capital equivalent to 1.275 billion VND and 1,72 million USD; 8 expanded investment projects (3 domestic projects, 5 FDI ​​projects) with an additional registered capital of 139,05 billion VND and 3,92 million USD. Up to now, the whole province has 227 invested projects with a total registered investment capital of about 27.743 billion VND and 1,06 billion USD, including 76 FDI projects, from 16 countries and territories.

Meanwhile, currently, the infrastructure of industrial parks and clusters continues to receive attention and direction to attract investment for development. The province continues to support and urge investors in projects to build infrastructure for Industrial Park, Gilimex Vinh Long Industrial Park was included. These will be new growth drivers that promise “beautiful” numbers for the province’s industrial production and exports in the coming time.

Gilimex Vinh Long Industrial Park
Gilimex Vinh Long Industrial Park

Gilimex Vinh Long Industrial Park enjoys a favorable location near Can Tho Bridge, Tra Noc International Airport, and is only about 18 kilometers from Can Tho City and approximately 7 kilometers from National Highway 1A, adjacent to the Hau River. The industrial park benefits from convenient road and waterway transportation systems, meeting the needs of investors for material and goods transportation and exchange both domestically and internationally. Within a 30-kilometer radius, Gilimex Vinh Long IP connects to three ports: Binh Minh Port, Vinh Long Port, and Can Tho Port. Among these, Can Tho Port is considered the key port of the Mekong Delta, capable of receiving ships with a capacity of up to 20,000 tons.

In 2025, we will continue to strengthen information and propaganda work on international economic integration to businesses, aiming for an export turnover of 1,05 billion USD.
In 2025, we will continue to strengthen information and propaganda work on international economic integration to businesses, aiming for an export turnover of 1,05 billion USD.

According to Mr. Tran Nhut Thanh, in 2025, the industry and trade sector also set growth targets. Among them, there are important targets such as: industrial production index increased by 14,5%; export turnover reached 1,05 billion USD, increased by 4,37% compared to 2024; total retail sales of goods and consumer service revenue is expected to increase by 14% compared to 2024…

According to Mr. Thanh, in 2025, he will continue to coordinate with provincial and local departments to grasp the production and business activities of establishments, enterprises and cooperatives in order to promptly remove difficulties and obstacles in the production process. At the same time, he will implement a program to develop supporting industries and increase exports to existing markets. In particular, he will pay attention to the province’s main export items such as leather shoes, textiles, seafood, processed agricultural products, etc.

“In particular, we need to strengthen information and propaganda work on international economic integration to businesses, the contents of free trade agreements that Vietnam has signed, market information work, forecasting the import and export situation of goods and raw materials so that businesses can proactively import and export” – Mr. Thanh shared.

Source: Vinh Long Newspaper

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