|construction site in southern Dong Nai Province. The southern province is hoping to consolidate exports to the US this year after exports to the country reached $3.2 billion in 2013. — VNA/VNS Photo Danh Lam
DONG NAI (VNS) — In 2014, the US will continue to be a potential export market in the southern province of Dong Nai, where the demand from this market keeps rising.
The provincial Department of Trade and Industry has confirmed that since the end of 2013, orders, especially from the US market, on garments, footwear, timber products and machines have recovered.
At the beginning of this year, many local companies signed contracts for the end of the second quarter, the department was quoted as saying in Dong Nai newspaper.
The newspaper reported that while exports to bigger markets such as China, Japan and South Korea were down in 2013, the export value to the US reached nearly US$3.2 billion, a year-on-year rise of 19 per cent.
Experts predict that in 2014, the demand from this market will further increase.
Nguyen Thanh Nhan, owner of a timber-based product manufacturer in Trang Bom District said that in the first month of this year, his manufacturer had already received orders for the second quarter and that the volume had doubled, while prices are up 10 per cent.
There will be more opportunities for Dong Nai in 2014, when the US economy is predicted to increase by 2.5 per cent compared with last year. Furthermore, when the Trans Pacific Partnership (TPP) is signed, local companies will be able to benefit further from exporting footwear, garment and textiles, cashew, steel and agriculture products.
Le Van Danh, director of the department, told the newspaper that the improved predictions for the economy shows there's a bright future for Dong Nai in particular and Viet Nam as a whole.
The department, he promised, would regularly meet local companies to try and solve difficulties that they faced when doing business in his province. The province would also provide more information on export activities and any new credit packages, to companies.
Danh encouraged local companies to develop exports by learning more about their standards and information relating to companies that will sign the TPP.
Meanwhile, local enterprises hoped that they will be able to find competitive suppliers so that they too will be able to be competitive in such a big market. — VNS