Investment News

Exports gradually recovered




Data published by the General Statistics Office shows that the export turnover of goods in June 2023 is estimated to reach 29.3 billion USD, an increase of 4.5% compared to the previous month, which is positive information for many domestic export enterprises. concerned, expecting the market to gradually recover and grow thanks to the impact of strongly promoted trade promotion activities.

 Many domestic export enterprises expect the market to gradually recover and grow thanks to the impact of strongly promoted trade promotion activities. Photo: Vasep

Businesses put their trust

Ms. Nguyen Thi Thu Sac - Chairwoman of the Vietnam Association of Seafood Exporters and Producers (Vasep) at a recent conference said that many seafood businesses determined that after a period of market fluctuations, orders decreased. The decline is an opportunity for them to review production costs, not expand investment, and keep the number of workers and income for workers stable. This is also the period when some businesses spend time researching and analyzing new products suitable to the market context.

Expecting a positive signal for shrimp exports, Mr. Le Van Quang - General Director of Minh Phu Group Joint Stock Company - analyzed that the seafood export market from August 2023 onwards will improve when the source The supply of raw shrimp in major exporting countries such as India, Ecuador and Vietnam all decreased sharply, world demand gradually recovered.

Thus, the raw shrimp situation at the end of the year will be lacking, units will have the opportunity to sell and reduce inventory when consumption demand during the year-end festive season increases.

However, when comparing the cost of shrimp production among three competitors, Vietnam, Ecuador, and India, it shows that the cost of Vietnamese shrimp is twice as high as that of Ecuador and more than 30% higher than that of shrimp. India, making it difficult for shrimp exporters to find orders.

Similarly, a representative of Viet Thang Jean Co., Ltd. shared that after the first 6 months of 2023 with difficult operations, entering the third quarter of 2023, the business is confident that it can compete better in the market thanks to standard products. Green from raw materials to technology, good price policy when applying digital transformation, businesses can compete in orders, while recovering capital for reproduction and investment.

Promote many solutions to promote exports

To maintain the 2023 economic growth target of 6.5%, according to the updated scenario recently submitted to the Government by the Ministry of Planning and Investment, Vietnam's economic growth in the third quarter of 2023 is forecast to meet There is a lot of pressure to reach 7.4% and the fourth quarter must reach 10.3%, Vietnam's GDP growth in the last 6 months of the year must reach 8.9%.

The Ministry of Planning and Investment is also urgently completing a draft Resolution on improving the business environment and enhancing national competitiveness to submit to the Government in September 2023.

Assessing that Vietnam's export situation has shown signs of recovery and growth again, but there are still many difficulties, at the preliminary conference in June 2023, the Ministry of Industry and Trade - said that it will promote 8 solutions. to promote exports in the remaining 6 months of 2023.

Mr. Tran Duy Dong - Director of the Import-Export Department (Ministry of Industry and Trade) emphasized that the Ministry of Industry and Trade will continue to focus on perfecting legal documents on import and export, recommending additional financial policies. on currency locking to support businesses in increasing supply, reducing costs and creating more competitive products.

The Ministry of Industry and Trade and the Import-Export Department will preside over the synchronous implementation of programs in Vietnam's import-export strategy until 2030 and the strategy for developing a number of Vietnam's key products.

According to