Economy
Fed’s foreseen rate cuts affect foreign exchange rate
1.
 |
| The Mekong Delta province of Kiên Giang is striving to earn at least US$1 billion from exports by 2020, according to the provincial Department of Industry and Trade. — VNA/VNS Photo Khương Duy |
KIÊN GIANG — The Mekong Delta province of Kiên Giang is striving to earn at least US$1 billion from exports by 2020, according to the province recently-released action programme.
Of these, farm produce is expected to yield $495 million and aquaculture $230 million. The province will boost the exports of frozen shrimp, frozen squid and rice to markets with strong purchasing power while enhancing the competitiveness and integration capacity of businesses.
The province will also support key export enterprises in finding partners, boosting selling and buying opportunities and providing services. Maintaining and enlarging distribution networks, as well as stabilising traditional markets and expanding potential markets, are also among the province’s goals.
Along with creating favourable conditions for local enterprises to upgrade their production, the province is seeking to attract large-scale projects with advanced technology.
In addition to enhancing trade promotion, the province will use market surveys and international and domestic trade fairs and exhibitions to popularise local products.
The province’s products have been sold in 43 countries and territories. It earned $196 million from exports in the past seven months, equivalent to 44.5 per cent of its yearly plan and up 1.8 per cent from the same time last year.
Meeting export goals has been challenging due to fierce competition from regional countries, shortage of capital, restricted markets and lack of materials for aquaculture processing.
However, the province still enjoyed a surge in rice exports in July, increasing total rice shipments to 270,000 tonnes in the first seven months of the year. — VNS
