Developing product chains to boost export growth

ABO/VNA - Vietnam’s exports have depended on foreign direct investment enterprises, which accounted for 70 percent of total turnover. This was because the country has not had an export value chain. Participants at recent conference hosted by the Ministry of Industry and Trade have said.
 

Vietnam has high agricultural output. However, most of its products have not been exported widely due to limited processing capacity. Agricultural and seafood products have been mainly exported as raw materials.

Product chains will help cut out intermediary, reduce goods’ prices, raise the added value, and improve competitiveness.

The export situation this year is forecast to have many opportunities for higher growth as commitments for international integration have been implemented, helping reduce import-export tariffs.

Vietnam is expected to earn 236.6 billion USD from export this year, up 10 percent against 2017.

(Source: VNA)