A province with export turnover once ranked 45/63, leaping into the top 10 in the country after only 1 year

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Specifically, Thai Nguyen is a province with a big change in export turnover after Samsung invested in building a factory to manufacture and assemble mobile phones and high-tech products in Yen Binh Industrial Park. Pho Yen.

In 2013, Thai Nguyen's export turnover reached $0.25 million, ranking 45th out of 63 provinces and cities. After Samsung Thai Nguyen factory went into operation in March 2014, Thai Nguyen's export turnover has changed markedly.

Specifically, in 2014, Thai Nguyen's export turnover reached 7.93 billion USD, 32.24 times higher than 2013. Accordingly, the province's export turnover jumped to rank 6th out of 63 provinces and cities. Thus, Thai Nguyen jumped 39 places in the ranking of localities with the largest export turnover in the country after only 1 year.

According to Thai Nguyen Provincial People's Committee, Samsung's presence has made FDI inflows to the province increase sharply, positively contributing to economic restructuring, labor restructuring and job creation. new jobs for workers, and at the same time increase export turnover for the province.

A province with export turnover once ranked 45/63, leaping into the top 10 in the country after only 1 year - Photo 1.
Thai Nguyen's export turnover from 2013 to present. Source: General Department of Customs.

From 2015 to now, Thai Nguyen's export turnover has always been in the top 5 of the country. In 2021, the export value of Thai Nguyen province reached 29.09 billion USD, ranking 4th out of 63 provinces and cities, just behind Ho Chi Minh City. Ho Chi Minh City, Bac Ninh and Binh Duong.

According to Thai Nguyen Provincial People's Committee, investors have been particularly interested in investment opportunities in Thai Nguyen, including many production projects that mainly serve export needs. In addition, there are currently many manufacturing enterprises in the area that have applied to increase capital to expand production in the province. Accordingly, this is a promising opportunity to contribute to the added value of export targets in the province.

In particular, some projects of large enterprises such as: Samsung Electro-Mechanics Vietnam Co., Ltd. decided to expand production worth 920 million USD from the beginning of 2022, Sunny Opotech company committed to Thai province. Nguyen will continue to invest in expanding production by investing in the second project about 350 million USD…

For Thai Nguyen province, the local export value in recent years has always grown by over 10% per year, which directly contributes to the export value target in the province.

In addition, dozens of investors and projects are in the research phase and completing procedures, this is an opportunity for Thai Nguyen province to make a breakthrough in industrial production value and export value in the province in the near future. years to come.

In the first 9 months of 2022, the total export value of goods in Thai Nguyen province reached 24.33 billion USD, up 18.4% over the same period last year and ranked 4th out of 63 provinces and cities. In which, the economic sector with foreign direct investment (FDI) exported about 24 billion USD, up 18.5%, exports managed by the local reached 516.2 million USD, up 18.7 % over the same period.

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