Ba Ria - Vung Tau's exports up 10.5% in two months
The southern province of Ba Ria – Vung Tau shipped over 1.25 billion USD worth of products abroad in the first two months of this year, a year-on-year increase of 10.5%, according to the provincial Department of Industry and Trade.
Ba Ria – Vung Tau province shipped over 1.25 billion USD worth of products abroad in the first two months of this year. (Photo: VNA)
Ba Ria - Vung Tau (VNA) – The southern province of Ba Ria – Vung Taushipped over 1.25 billion USD worth of products abroad in the first two monthsof this year, a year-on-year increase of 10.5%, according to the provincial Departmentof Industry and Trade.
Asia remained the province's largest export market with nearly 807 million USD,followed by the EU (over 280 million USD) and the Americas (nearly 94 millionUSD).
Local firms attributed the robust rebound in exports to the global demand’s recoveryand falling inflation.
This year, the province eyes over 6.97 billion USD in export revenue, up 3.05% from the previous year, with crude oil export turnover expected to rise3.28% to 5.56 billion USD.
The Department of Industry and Trade said the world's slow economic growth,weak consumption demand and rising protectionism will make 2024 a challengingyear for local trade activities.
Besides, large importers such as the US and the EU are tightening their belts,resulting a fall in the volume of orders, while domestic industrial productionlike garments and textiles, leather shoes and electronic products hinge on exports,with only 10% for domestic consumption and the remaining 90% for foreignmarkets.
Against this backdrop, the provincial People’s Committee has directed competentsectors and localities to focus on improving the local business climate to supportenterprises in developing production and ensuring sustainable supply for exports.
Deputy Director of the Department of Industryand Trade Vu Bich Hao said the department will keep a close watch on the localproduction to remove roadblocks in a timely manner, and accelerate theimplementation of three strategic breakthroughs, namely human resource training, improvement of institutions and infrastructure development.
Furthermore, the department will help businesses capitalise on existingfree trade agreements, enhance trade promotion, and provide them with market informationand that related to policies and technical standards of foreign countries./.
The development of a free trade zone in Ba Ria-Vung Tau with link to local seaports is expected to provide the southern province with opportunities to increase its attractiveness to foreign investors and to access technical assistance from partners in borderless trade.
As foreign direct investment (FDI) has an important role to play in the economic development of the southern province of Ba Ria – Vung Tau, the locality has paid due regard to attracting high-quality projects to create breakthrough for the local industry which is developing towards modernisation and sustainability.
The port complex of Cai Mep - Thi Vai in Ba Ria - Vung Tau continually welcomed international cruise ships with thousands of tourists over the past months, a sign of cruise tourism recovery in this southern province and Vietnam at large.
Endowed with charming natural landscapes, unique cultural historical relic sites, and an array of cultural festivals, the southern province of Ba Ria – Vung Tau has capitalised on its advantages to lure more visitors.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Deputy PM Tran Hong Ha urged countries to work together to remove supply chain bottlenecks, expand market access, strengthen cooperation in smart customs procedures, mutually recognise technical standards, and eliminate unnecessary protectionist barriers to boost trade and investment.
The event has gathered over 400 exhibitors from 16 countries and territories, with more than 980 booths showcasing a wide range of products and technologies in automotive components, electronics, repair and maintenance, bodywork, accessories, and customisation.
The latest order follows Vietjet’s commitment for 20 additional A330neo aircraft last month, bringing the airline’s total widebody aircraft on order to 40.
Minister of Finance Nguyen Van Thang acknowledged the target represents an important milestone for socio-economic development as well as a demonstration of the country’s aspiration for robust economic growth.
The price of E5 RON92 petrol is now capped at 20,631 VND (0.79 USD) per litre, up 1,169 VND from the previous adjustment, while RON95-III costs no more than 21,244 VND per litre, up 1,277 VND.
Ba Ria – Vung Tau province shipped over 1.25 billion USD worth of products abroad in the first two months of this year. (Photo: VNA) 
