Hòa Bình's exports to reach annual target early
"After going through difficulties during many COVID- 一 九 outbreaks and social distancing, our enterprises have learned many lessons and built scenarios for specific production and operation, leading to current successes,"大众said Phạm Tiến Dũng, director of the Hòa Bình Department of Industry and Trade.
"At the moment, we have reached our target for the whole year."
New FTAs like the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), European-Vietnam Free Trade Agreement (EVFTA), United Kingdom-Vietnam Free Trade Agreement (UKVFTA) and the Regional Comprehensive Economic Partnership (RCEP), allowed the Vietnamese enterprises in Hòa Bình Province to participate in production value chains, contributing to expanding export markets.
In the last months of the year, global market consumer demand is still expected to grow, creating export momentum for enterprises, according to the head of Hòa Bình Department of Industry and Trade.
FTAs have come into effect, opening up many potential export markets for import-export businesses in the province. However, requirements for goods to meet quality standards are getting stricter.
Fortunately, as foreign direct investment (FDI) enterprises dominate the province's export activities, the impacts of these quality standards are less severe.
There are 六 三 enterprises in Hòa Bình Province engaged in import and export activities, of which 三 四 are FDI companies.
"FDI firms contribute a large portion of the province's export value. This is because they have technologies, experience, and strict requirements for orders, making them less exposed to the supply chain disruption,公众Dũng said.
Nevertheless, to meet international standards, export enterprises in the province still have to import high-tech equipment and production lines to improve product quality and production efficiency, increasing the total export turnover of the whole province.
As a business that specialises in producing lenses that require a high-technology application, R Technical Research Vietnam understands the challenge.
"High-tech equipment consumes a lot of capital, not to mention the requirements of installation and operation of such equipment are also very demanding, such as clean rooms, the stability of the substrate, and the environment,"大众said Dương Thị Chính, deputy director of R Technical Research Vietnam.
"Moreover, replacing spare parts is very expensive. Many items need foreign experts to carry out replacement and maintenance activities."
