Positive outlook for Vietnam’s exports in 2010

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Positive outlook for Vietnam’s exports in 2010

Vietnamese exports are looking up this year, with many products seeing high growth and an increase in orders in the first two months.

Statistics released by the General Statistics Office show that garment exports raked in 1.5 billion USD in January and February - topping all other products in terms of value, and reflecting a 16.8 percent year-on-year increase.

Garments were followed by computers and electronics, with a year-on-year rise of 30.6 percent, then wood and wooden furniture, posting a 29.2 percent bump.

Many garment and textile exporters said that US and EU orders are up strongly. The Hung Yen Garment Joint Stock Company reported that its subordinate units have received orders for deliveries through the end of September.

The company is planning to operate a new production line in the near future to produce garments for export to Japan, taking advantage of tariff incentives offered by the Vietnam-Japan Economic Partnership Agreement.

Its export revenues are expected to reach 330 million USD in 2010, of which 65 percent will come from the US market, 20 percent from Japan, and 10 percent from the EU.

Handicraft enterprises have been favoured as well, receiving long-term orders from foreign partners.

Director of the Viet Tre (Bamboo) Company, Nguyen Ngoc Lien Hoa, said that since the beginning of this year, a number of businesses from Italy, Denmark and France have sought out her company’s products.

The Vietnam Handicraft Exporters’ Association said it plans to organise an exhibition in April to help local firms boost the sale of products both on domestic and overseas markets.

Vietnam’s export revenue reached 56.6 billion USD in 2009, projected to hit almost 60 billion USD this year.