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Expectation from the largest export market

​In the first 5 months of 2017, the U.S is still Vietnam’s largest export market with the turnover of 16 billion USD (10% more than the same period last year). The value is expected to increase in the near future.


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 Timber manufacturing for exporting to the U.S at a timber company in Long Binh ward
(Bien Hoa City)

 In many years, America has been Dong Nai’s largest export market with about 30% of the total export turnover. Textile, footwear, timber products, coffee, cashew, black pepper, computer, electronic products and accessories are the exported products from Dong Nai to America. In the first 5 months of 2017, Dong Nai export turnover to the U.S reached nearly 2.8 billion USD.
 
*Export will be less affected
 
Experts predict that after America withdraw from the Trans-Pacific Partnership (TPP), the 2 countries’ bilateral trade will decrease, especially the export value from Vietnam to the U.S. However, according to the General Department of Statistic’s newest data, America is Vietnam’s largest export market with 20% of the total export turnover. Lately, on June 7th, 2017, Ministry of Foreign Affairs has corporrate with American Trade Association and the provinces in holding the America Meeting. At the meeting, many American enterprises informed that they would promote their investments in Vietnam to increase the export turnover and at the same time, find Vietnamese partners to cooperate to have the Vietnamese products directly imported to the States.
 
Deputy Minister of Ministry of Foreign Affairs – Mr. Ha Kim Ngoc said: “Vietnam and America, we support each other, not compete. The governments of both countries agreed to continue to promote the cooperative development with or without the TPP. Thus, Vietnam’s export turnover to America in the first months of 2017 was still high”. Mr. Ngoc also informed that in November, 2017, Vietnam would hold the APEC conference with the participation of the USA President – Donald Trump. This is a giant leap of the 2 countries relationship since there has not been any American President who visited Vietnam on his early time after being inducted
 
According to Mr. Ted Osius – American Ambassador in Vietnam, it is unfortunate that America withdraws from the TPP; however, we had plan for the situation; therefore, the cooperation is still going well. Vietnam still has many free trade agreements, which have been or will be signed to strongly attract America’s investments in the near future. “Vietnam – America trading friendship is nonstop thriving, from 15 billion USD in 2018 to 52 billion USD in 2016. The 2 economies support one another, Vietnam export textile, footwear, timber products, computer, electronic products and accessories… to the U.S and import from the States variety of manufacturing materials and machines” – Said Mr. Vo Tan Thanh – Deputy Chairman of Vietnam Chamber of Commerce and Industry.
 
* Export and Investments shall be promoted
 
Mr. Nguyen Noi – Deputy Director of Foreign Investment Agency (Ministry of Planning and Investment) said: “It is not as expected that American only ranks 19/119 countries and territories to invest in Vietnam. The relationship of supporting each other without competing will promote America’s investments in Vietnam as more and more American enterprises are going to begin or expand their investments”. The American Investors want to invest in Vietnam in: Industrial manufacturing, energy, waste treatment, medical, education and agriculture products export cooperation. “Our enterprise used to export agricultural products directly to America and we are currently looking for some agricultural products such as: coffee and fruit, which are manufactured under sanitary processes in Dong Nai to be exported to America. If there are any companies from Dong Nai that can meet our demand can contact our company directly” – Said Mr. Nguyen Hai – Representative of Ananda Co. ltd (Ho Chi Minh City)
 
Mr. Jonathan Moreno – Chairman of America Trading Association in Vietnam said: “In the near future, there will be waves of investments from the U.S to Vietnam on many fields. Besides, there are also many U.S enterprises who are looking for Vietnamese partners to have the products imported directly. Skipping the intermediate stages, Vietnam products shall have higher competitiveness. Vietnam shall also reduce and simplify administrative procedures to facilitate American investors”.
 
According to Deputy Chairman of Provincial People’s Committee – Mr. Tran Van Vinh, America has the biggest markets for Dong Nai; thus, many provincial enterprises want to cooperate with the American enterprises to implement direct export. Besides, Dong Nai also wants to attract more U.S enterprises to invest in the province in supporting industrial, hi-tech, environmentally friendly, agricultural, seafood products and tourism infrastructures.
 
According to Department of Planning and Investment, America has recently ranked 17/45 countries and territories to invest in Dong Nai with 24 projects and the total invested capital of 158.3 billion USD.
 
Huong Giang

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