2018H1: Growth rate of export turnover of domestic enterprises is higher than that of FDI enterprise
Tuesday 15, 10 2019
For the first time in many years, Growth rate of export turnover of domestic enterprises is higher than that of FDI enterprises. According to the Ministry of Industry and Trade, exports of domestic enterprises increased 19.9% over the same period las
For the first time in many years, Growth rate of export turnover of domestic enterprises is higher than that of FDI enterprises. According to the Ministry of Industry and Trade, exports of domestic enterprises increased 19.9% over the same period last year, significantly higher than that of foreign invested enterprises of 14.5%.
Although the growth rate of export turnover of domestic enterprises is higher than that of FDI enterprises, the share of FDI companies in total exports is still so high ( about 70%). Especially in Telephone, mobile phone and part thereof this number is nearly 100%, Computer, electrical products, spare-parts and component thereof: 97%, Foot - wear: 77% and Textiles and leathers: 60%.
According to experts, thanks to the tariff preferences in the signed FTAs, Vietnamese bussinesses expanded more new export markets. In the first 6 months of 2018, Vietnam's export turnover to the US market increased by 9.2%, EU 12.3%. In particular, Vietnam's exports to some potential markets have significant growth rates such as India increased 96.6%, Iraq increased 27.9%.
However, there are some difficulties and challenges for export activities such as: applying strict protectionist measures, food safety standards and environmental protection from countries signed FTAs. As a result, the average export target of $ 20.45 billion per month for the last 6 months is still a big challenge for the business community.
