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Vietnam city aims to gain regional trade hub status by 2020Thursday, August 21, 2014 > 08:29:11
(Malay Mail Online)
Vietnam’s fourth largest city of Can Tho is targeting to become a trade hub in the Mekong Delta region in future, Vietnam News Agency (VNA) reported.
Vice chairman of the municipal People’s Committee Dao Anh Dung said the city hopes to see the trade service sector account for 47.1 per cent of Vietnam’s economic structure by 2015, up 3 per cent from 2013.
The sector is expected to constitute 52 per cent of the local economy or equivalent to 164 trillion VND (US$7.8 billion) by 2020.
Municipal’s Department of Industry and Trade deputy director Bui Ngoc Vy said plans are under way to build 110 markets, 14 supermarkets and 17 trade centres including one on a regional scale between this year and 2020.
The locality will step up trade promotion overseas to seek markets for its aquatic products in Asia, Middle East, Oceania, Europe, US and Africa.
A US$7 billion export revenue target has been set for 2020 — four times higher than last year’s figure.
Can Tho will also simplify administrative procedures to attract US$5.7 billion in the trade sector, innovate manufacturing of export lines and strengthen ties with other localities and foreign economic organisations.
Since the beginning of 2014, local trade value has hit US$2.36 billion with about US$900 million coming from exports.