Data from the General Department of Customs shows that Ho Chi Minh City. Ho Chi Minh City continues to lead the country in import and export when recording a turnover in July of 54.7 billion USD. In which, export reached 23.6 billion USD, import reached 31.1 billion USD.

Although continuing to maintain its position as the leading locality in import and export. However, like many other localities across the country, the import and export of Ho Chi Minh City. Since the beginning of the year, Ho Chi Minh City has faced many difficulties and declined. In the first seven months of this year, the city's exports fell by $5 billion.

Explaining the cause of this decline, the Department of Industry and Trade of Ho Chi Minh City. According to Ho Chi Minh, the main reason is that the world economy is being strongly affected by geopolitical conflicts, high global inflation, causing consumers to "tighten their wallets", causing negative impacts on the economy. to the export activities of goods of the whole country, including Ho Chi Minh City. Ho Chi Minh.

Survey results of members of the City Business Association. Ho Chi Minh City showed that in June 2023, it showed that 30-50% of enterprises lacked new orders, of which the strongest impact was in the leather, footwear and garment industry with revenue decreasing by 30-50%; wood production and business decreased by 31%; The rubber-plastic industry reduced revenue by 20% and labor by 30% due to a deep drop in orders. In particular, the steel industry showed the most difficulty when up to 95% of enterprises reported losses, revenue decreased by 40-50% and inventories increased, domestic purchasing power decreased.

City. Ho Chi Minh City continues to lead the country in import and export turnover (Illustration image)

In fact, right from the beginning of the year, the Department of Industry and Trade of Ho Chi Minh City. Ho Chi Minh City has determined that in 2023, the city's import and export activities will continue to face many challenges due to the impact of the world economic situation, geopolitical conflicts, high global inflation leading to a trend decrease in consumption.

In that context, the city's Industry and Trade sector has coordinated to organize fairs and exhibitions, connecting supply and demand, connecting businesses with banks, business development programs and key products. Support businesses in labor, support activities to stimulate consumption ...

Along with the support of the authorities, businesses also do not sit still but actively adapt flexibly. Mr. Lu Nguyen Xuan Vu - General Director of Xuan Nguyen Group Joint Stock Company said that in the context of many disadvantages, businesses themselves have to be more proactive to "manage." Accordingly, in 2023, the enterprise will continue to maintain traditional markets such as the US, China, Korea, Japan and countries in Southeast Asia. However, the enterprise will not sell raw products but promote the export of processed products with its own brand in order to add value to Vietnamese agricultural products and diversify choices for consumers.

Sharing experiences in dealing with adverse fluctuations over the past time, Mr. Nguyen Ngoc Luan - Director of Global Trade Link Co., Ltd. said that businesses need to focus on adjusting their production and business plans to To adapt, instead of building a long-term plan of 1-2 years, it is necessary to flexibly switch to a short-term plan of 3-6 months, even adjusting for each month.

Because long-term planning requires businesses to have a large staff to regulate, large capital investment for raw material storage, but in the context of unpredictable market, such investment will come with risks. especially the risk of financial imbalance for businesses borrowing high interest rates from banks.

With the view of "in danger" since the traditional export markets have slowed down, enterprises are not sitting idle waiting but actively looking for new markets, focusing on the European and Russian markets. As a result, from only exporting processed coffee, the unit is currently being proposed by customers to provide other Vietnamese agricultural products such as rice, pomelo... In 2023 the company will focus on exploiting European market and link with other agricultural enterprises to support and coordinate exports effectively.

Mr. Tran Viet Anh, Vice Chairman of Ho Chi Minh City Business Association. Ho Chi Minh said that although the economy in 2023 is considered to continue to be unfavorable for some industries, there are still opportunities for others. For example, in the current period, textiles, footwear, and furniture are in short supply, but there are also many businesses that are increasing production shifts thanks to traditional markets and reputable products in the market.

"It can be seen that, no matter how difficult the economy is, civil and popular products that serve the basic needs of life still have a consumption market. These products do not bring high profit value. but still can help businesses maintain production activities, retain labor resources to reinvest in production for the next development cycles.It is important for businesses to be sensitive and grasp real needs economic conditions of the market to respond promptly," emphasized Mr. Tran Viet Anh.