09:03 | 24/02/2016 Trade
Thai Nguyen province has targeted a 27 billion USD earning from export by 2020, becoming a leading exporter in the northern mountainous region.
Thai Nguyen tea (Source: VNA)
Exports are expected to grow by 9 percent per annum, with export turnover per capita averaging 20,000 USD per year, by 2020.
To that end, the province has come up with a strategy to produce key items for export, including, amongst others, electronic and hi-tech products by Samsung faciliites based in Yen Binh industrial park, and varieties of dried tea.
As the nation’s second largest tea grower, by 2020, Thai Nguyen aims to ship 10,000 tonnes of tea, if it can maintain growth of 13 percent annually.
The locality is also expanding its marketing of mechanical products to Europe and Latin America, hoping to raise its export by 14 percent per year.
Nguyen Ngo Quyet, Director of the provincial Department of Industry and Trade, said the local export revenue per capita neared 14,000 USD last year, a five-fold increase from the country’s average.
Major export markets include the US, the European Union, Taiwan (China), Japan, Russia and Eastern Europe.
To raise exports, the province will continue shipping goods to new markets, such as Latin America, Africa, the Middle East and Western Asia.
More capital will be poured by the province into e-commerce and increasing connectivity with the northern mountainous and Red River Delta regions, particularly Hanoi, in order to supply raw materials from the agro-forestry-fisheries industries and consumer goods for domestic consumption and exports./.