Dong Nai maintains the leading position Vietnam in terms of trade surplus

In the first six months of 2021, with a trade surplus of over US$1,902 billion, Dong Nai continues to be the leading locality in the whole country in terms of trade surplus and is the 8th consecutive year of trade surplus since 2014.

Dong Nai owns  land area of about 586,362ha, accounting for about 1.9% of the country’s land area. Industrial development will increase land-use efficiency in the same area, create more jobs with stable income for people inside and outside the province, budget revenue will also increase.

According to a report just released by the Dong Nai Statistics Department, despite facing difficulties due to the impact of the Covid-19 pandemic, Dong Nai’s trade surplus in the first six months of 2021 still reached US$1,902.79 million. In which the domestic economic sector had a trade surplus of 297.57 million USD, and the foreign investment sector had a trade surplus of 1,605.2 USD.

High trade surplus of Dong Nai roots from the development of supporting industries in the province. Many enterprises in Dong Nai have found a local source of input materials. It is estimated that for the whole year of 2021, Dong Nai’s trade surplus can reach more than 4 billion USD.

The export market is more prosperous. The world market is recovering, creating favorable conditions for enterprises to restore production and expand export markets, which are the factors that help the export and import turnover to increase compared to the previous year same period.

The primary export industries of Dong Nai include footwear, textiles, textile fibers, wood products, machinery, equipment, and spare parts. These essential products account for nearly 60% of the province’s export turnover.

Moreover, in recent years, the supporting industry sector has been prioritized by these provinces to attract investment to increase the localization rate for export products, meeting the requirements of FTAs. In particular, the fact that the Department of Industry and Trade regularly organizes on-the-spot trade promotion activities to help foreign and domestic enterprises meet and approach each other to supply each other. Export products are increasing, reducing imports, increasing the value of trade surplus.

In addition to a trade surplus, other socio-economic figures of Dong Nai province recorded good development despite being heavily affected by the Covid-19 epidemic. The Director of the Dong Nai Statistics Department said that in the context of the Covid-19 epidemic, which affects all socio-economic problems of countries worldwide, this is an excellent success for Dong Nai in preventing fight epidemics and effectively implementing the “dual goal.”

(Source: vneconomy)