09:03 | 08/01/2019 Trade
Businesses in the central province of Thua Thien-Hue are expected to earn over 1.05 trillion USD in 2019, up about 15 percent against the previous year.
|Phu Bai Industrial Park in Thua Thien-Hue province - Photo: VNA|
In its export development plan for 2019-2020, the province focuses on labour-intensive products like garment-textiles as many new projects will be put into operation in the time ahead. Besides, the locality will promote seafood export in order to bring into full play free trade agreements, including those between Vietnam and the EU and between Vietnam and the Eurasian Economic Union.
Seafood export is projected to reach 81 million USD by 2020, making up 6.5 percent of the province’s total export value. Meanwhile, wood and timber products are set to bring home 156 million USD and account for 12.5 percent of the total number.
The province has also pinned high hope on rubber and farm produce export. To fulfil the targets, Thua Thien-Hue has deployed mechanisms and policies, and invested in infrastructure and services in support of exports. It has sped up the construction of the A Dot border gate economic zone and built a high-tech park and a logistics center, second level, at the Chan May-Lang Co economic area.
The province will firstly complete social infrastructure at economic and industrial parks such as housing for workers, kindergartens, schools and entertainment areas. Statistics show that in 2018, Thua Thien-Hue pocketed 920 million USD from exports, the highest ever so far. Of note, the Hue Textile and Garment JSC raked in over 92 million USD, up 4 percent against the previous year, and contributed 16 billion VND (668,000 USD) to the State budget. The company has received orders till the end of June 2019.
Apart from traditional partners like the US, the Republic of Korea and Europe, it has expanded the market to Japan and Australia, aiming to raise the export turnover to 96 million USD in 2019.