Exports - A bright spot of Ninh Binh's economic picture in 2022

In the year, the province's export revenue was estimated to hit 3.15 billion USD, up 6.6% from 2021 and surpassing the yearly target by 12.5%. 

Some key export staples have reached their targets ahead of schedule, thereby opening up a bright prospect for 2023.

Impressive growth

Statistics released by the provincial Department of Industry and Trade showed that the province's export value was estimated at 3.15 billion USD, up 6.6% from 2021 and surpassing the yearly target by 12.5%.

Key export staples enjoying high growth included cameras and phone components (855 million USD, accounting for 93% of the yearly plan); footwear (992 million USD, 137% of the yearly plan); cement and clinker (over 500 million USD, 96.7% of the yearly plan); clothes (535 million USD, 144% of the yearly plan); electronic components (82.3 million USD, 134% of the yearly plan).

Groups of key export commodities maintain stable growth. Of which, processing products were estimated to rake in approximately of 3.11 billion USD, surpassing the yearly target by 13.3% and saw a year-on-year increase of 9.7%.

Handicraft products earned over 6.3 million USD, surpassing the yearly plant by 8,6%; and agricultural products raked 28 million USD, 3.7% higher than the yearly plan. Agricultural products were exported to some tough markets like Japan, EU, and EAEU markets.

Ngo Minh Kim, Vice Director of the Department of Industry and Trade, said these outcomes were attributed to the cooperation between the department and related units of the Ministry of Industry and Trade and other agencies to popularise commitments and regulations of FTA, CPTPP, UKVFTA and RCEP to local export businesses.

Some local commodities were exported to markets which already signed FTAs with Vietnam, while markets of Japan, the Republic of Korea and Americas imported a large number of local goods in 2022.

Asia topped the list with revenues of 2.17 billion USD, accounting for 68.9% of the total earnings. It was followed by the Americas with 507.2 million USD, making up of 16.1%; the EU with 352.8 million USD, accounting for11.2%; Australia with 72.5 million USD, representing 11.2%; and Africa with 47.2 million USD, making up 1.5%.

Local exporters have shipped products to over 80 countries and territories worldwide. Many local businesses have joined global supply chains.

Optimistic signs 

It is predicted that in 2023, the domestic and world situation still faces numerous difficulties, hence Ninh Binh has devised solutions to cope with the new situation.

Local departments, sectors and localities have carried out measures, mechanisms and policies to create favourable conditions to attract investment into supporting industries, promote industrial production and boost production and supply linkages synchronically and effectively.

In 2022, Ninh Binh authorities granted certificates of investment to five FDI projects with total registered capital of 18.11 million USD and permitted 11 projects to adjust capital.

When these FDI projects come into operation, they would provide stable sources of goods for export.

The province has also simplified administrative procedures effectively, thus creating favourable conditions for firms to boost production and business, especially those related to investment, import-export, tax and customs.

The department has also assisted local enterprises and cooperatives to expand their markets by selling products on e-commerce platforms like Sendo, Tiki, Lazada and Alibaba.

In an attempt to fulfill the target set for 2023, the department will continue to advise the provincial People's Committee to build and implement programmes on trade promotion and expanding markets for key products in combination with improving  competitiveness of firms in a bid to meet the regulations, criteria and  rules of origins of new-generation FTAs.

The department will assist enterprises in developing traditional export markets and stepping up exports through e-commerce platforms.

Besides, the department will work with local departments and sectors to advise the provincial People's Committee to renew investment promotion, and improve infrastructure in industrial parks and clusters in a bid to attract investment.

It will accelerate administrative procedure reform, especially in the fields of investment, tax, customs and import-export./.