HCM City pushes exports to ASEAN market - HCM City pushes exports to ASEAN market - Website Ho Chi Minh City
Ho Chi Minh City will focus on furthering product penetration in the ASEAN market in 2015 as it has been a key market for the municipality’s exports in recent years.
Since 2010, the city has organised numerous promotion activities to help local enterprises access the Cambodian market, set up product distribution channels and introduce Vietnamese products to Cambodian consumers.
According to statistics from the General Department of Vietnam Customs, Vietnam’s exports to Cambodia reached 2.6 billion USD last year out of two-way trade value of nearly 3.3 billion USD.
However, Vietnamese products face strong competition from similar products from Thailand and China in terms of quantity, brands and prices, underscored Pho Nam Phuong, Director of the municipal Investment and Trade Promotion Centre (ITPC).
She added that enterprises in Ho Chi Minh City and other regions are promoting exports to this traditional market as a number of Vietnamese products are favoured by Cambodian consumers, citing as example Duc Phat confectionery, Vissan processed food and Sai Gon cosmetics.
In 2015, Ho Chi Minh City will focus on Cambodia’s northwest market as a densely populated region with stable politics, Phuong said, stressing that Vietnam will gain a large market share in this region if it injects capital into commodity transportation and improving brand recognition and reputation.
Apart from Cambodia, Myanmar is a target market in the municipality’s promotion programme in 2015.
The city’s export revenue to the market in 2014 reached 77.3 million USD, an annual increase of 5 percent.
The best-selling products were CADIVI’s electric wire and cable, Dien Quang bulb, Saigon cosmetics, Rang Dong plastic goods and Hoa Sen corrugated iron. Vietnamese plastic products have been especially prominent in Myanmar plants.
The results were buoyed by efforts made by the ITPC to promote trade and investment in Myanmar since its doors opened in 2011.
Myanmar is also a target market for enterprises producing fertilizer, industrial electricity, pharmaceuticals and building materials.
Vietnamese businesses need to be patient and serious to enter the Myanmar market, Phuong said.