A garment factory in Vietnam (Illustrative photo: VNA)
Dong Nai (VNA) – The southern province of Dong Nai expects to see arecord trade surplus of 5.8 billion USD in 2022, according to the provincialStatistics Office.
In the January-November period, Dong Nai earned over 22.7 billion USD fromexports, while imported nearly 17.5 billion USD worth of goods, resulting in atrade surplus of almost 5.3 billion USD.
Thesouthern industrial hub currently has more than 50 key exports, with majorcurrency earners being footwear, textile-garment, wood products, transportvehicles and parts, and coffee. Big export markets of Dong Nai are the US,Japan, China, Europe and the Republic of Korea.
The US alone accountedfor nearly one third of Dong Nai’s export revenue, spending nearly 6.7 billionUSD on products from Dong Nai in the first 10 months of this year, up over 30%from the same period in 2021.
Head of the provincial Statistics Office Tran Quoc Tuan said high inflation allover the world caused a strong drop in consumption and investment demand anddisruption in supply chains.
In such circumstances, enterprises in Dong Nai managed to maintain productionand secure new orders thanks to their capacity in producing goods of highdemand.
As orders from European and American countries have reduced, Dong Naienterprises are looking to boost export to the Middle East, southern Africa andthe Association of Southeast Asian Nations (ASEAN).
Besides the foreignmarket, businesses also needed to focus on the domestic market, experts said.
In recent years,foreign-invested enterprises accounted for more than 75% of the province’sexport turnover, with the remainder belonging to non-state and State-ownedenterprises at 23% and 2%, respectively.
Nguyen Thi Hoang, ViceChairwoman of the provincial People’s Committee, said since the beginning ofthe year, the province had strengthened trade promotion to connect foreignenterprises in Dong Nai with domestic enterprises in the same field to cooperateand provide products for each other.
Many enterprises had found a source of domestic raw materials, which hadreduced imports allowing Dong Nai's trade surplus to increase and its tradedeficit to decrease./.
The southern province of Dong Nai, with its geographical and transport strength, has the advantage to promote selective attraction of foreign direct investment (FDI).
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A garment factory in Vietnam (Illustrative photo: VNA) 
