Vietnam‘s economy is forecast to face difficulties and challenges in 2014. However, experts emphasized the impressive rising of export activities will continue and even strengthen, having a significant role in helping settle down weak aspects of the economy.
Some international economic organizations said that 2014 will be a successful year for Vietnam’s exports because the economic situation in important areas saw strong recovery, bringing increase in consumer demand. Accordingly, the country’s total export turnover is forecast at 20 percent, much higher than 15.4 percent of the previous year. Specifically, sharp increase in exports will support external economic activities, especially drawing foreign investors’ attention.
Vietnam has become an “open” economy and has deeply integrated into the world economy. Vietnam’s export commodities have appeared in more than 200 countries and territories, with impressive growth of commodities such as pepper, garments and textiles, rice, and telephones and components.
Two major export commodities groups, electronics-computer-devices and apparel-footwear, which accounted for nearly 50 percent of the total export turnover, are expected to see positive growth prospects because apparel and footwear traders received orders until the second quarter of 2014. Other commodities are forecast to retain growth in 2014, such as plastics (13-16 percent), wooden products (15-17 percent) and telephone (over 50 percent).
Furthermore, numerous Vietnamese businesses are taking advantage of consumer demand for high quality products to penetrate the potential markets of Russia, the Middle East, Africa and South America, thanks to suitable technology and more affordable prices than those exported to the EU, the US and Japan. Potential commodities include seafood, garments and textiles and household electronics because they have advantages in cheap labour and available materials.
However, the Ministry of Industry and Trade defined it would follow the market to apply timely solutions to improve the capacity of domestic businesses and determined its long-term strategy of increasing the proportion of processed commodities to improve products’ added value.
New opportunities are expected to open for Vietnam’s export activities because a series of cooperative agreements will be signed, especially Tran-Pacific Partnership agreement and Vietnam – EU Free Trade Agreement./.
Đăng ký: VietNam News