Binh Thuan’s export toward reaching new milestones

Reportedly, the local merchandise export turnover in 2022 was recorded at USD 775.9 million, an increase of more than 23% compared to the previous year and a rise of 67.35% compared to the time before the outbreak of Covid-19 in 2019). Which, the group of seafood products made 245.88 million USD (up 42.45%) and the agricultural products group achieved 14.77 million USD (down 19.47%), while other groups with the most contribution 515 .25 million USD (up 17.26%).

Garment - one of the export products that contribute significant turnover to the locality (Illustration).

In fact, after the pandemic, exports in Binh Thuan province still showed signs of prosperity and continued to reach new milestones - exceeding the figure of 775 million USD. However, the growth among key export groups was uneven, while the group of aquatic products and other goods grew pretty high, the group of agricultural products decreased sharply compared to the same period last year. In addition, the export market presents more and more technical barriers to strictly controlling food safety and hygiene. While most enterprises participating in exporting in the locality are mostly small-scale, with small funds, and low processing technology, the competitiveness of products is still limited.

Therefore, in 2023, striving to complete the turnover target of 819 million USD, the locality and the Industry and Trade will solve difficulties, overcome limitations as well as promote advantages in exports. Specifically, it focuses on supporting businesses that participate in supply-demand matching programs to find partners, business cooperation opportunities, and consuming products associated with improving quality, efficiency, and competitiveness to boost production and export, especially in the group of aquatic products and agricultural products (rubber, dragon fruit...).

Right before the Lunar New Year (Year of the Rabbit in 2023), the Provincial People's Committee also issued the Action Plan to implement the Strategy for the Import-Export of Binh Thuan Province to 2030. Thereby, it defines goals and orientations for the development of the import and export that exploit the advantages of import and export trade as well as promote local socio-economic in the direction of green growth and fast and sustainable development.

Besides, the province also aims to maintain a stable import-export growth rate, focusing on promoting the direct export of key products and products with the advantages of Binh Thuan. At the same time, encourage and strengthen the transfer of modern technology in production to save costs, lower product costs and meet export demand. Focusing on improving the quality of export value of deeply processed products, increasing the number of official exports, and developing product brands, gradually reducing the small-scale exports.

This plan also has the targets at striving to achieve an export turnover of goods worth 930 million USD by 2025, and 1,240 million USD by 2030, bringing the average growth rate in the period 2021 - 2030 to about 7.81 %/year. Along with that, it will increase the proportion of export markets in the EU to 12.5%/of total export turnover by 2025 and increase to 15.5% by 2030. In addition, the proportion of imported goods, machinery, and equipment with advanced and clean technology for production and consumption will also be increased.

According to the orientation of developing export products in the coming years, seafood is a key export commodity group of Binh Thuan, holding an important position in the structure of local export goods, contributing to restructuring. and economic development. While agricultural products group will restructure towards deep processing, develop application of advanced science and technology to improve productivity, implement green agriculture, and clean products, be competitive, and overcome barriers of importing countries. As for the processing and manufacturing industries group, the main export items include textiles, footwear, wood, wood products, and packaging, et.

In export activities, the locality has also increased creating conditions for enterprises to deeply process export mineral products; support production and trade promotion for craft village products and traditional products rich in cultural identity; and some products of OCOP 4-5 stars of the province participating in export. Actively calling for capable enterprises to invest in the infrastructure of industrial zones and clusters in the province, creating a ground to attract investment in the production and trading of new products to participate in export.

Aside from ASEAN and Northeast Asia countries, the locality also takes advantage of new-generation free trade agreements to boost exports to Europe - the market with a large capacity and many opportunities for Binh Thuan enterprises. For the Americas, focusing on the export promotion strategy of wood and wood products, paper products...; On the other hand, the province will develop more potential export markets when Vietnam signs free trade agreements in the future.