According to the Da Nang Department of Industry and Trade, the city earned over 5 billion USD from exports of goods and services during the 2011 - 2015 period with an annual average growth rate of 15.1%.

Textile and garment is one of the city’s key export sectors

In particular, the city’s export earnings were more than 1.3 billion USD in 2016, nearly 1.5 billion USD in 2017, and an estimate of 1.65 billion USD in 2018.

By the end of this year, the export value of electrical equipment and electronics is likely to have accounted for 32.3% of the city's total exports, textiles and garments 25.9%, seafood 11.9%, children’s toys 5.5% and rubber products 3.3%.

Mr Nguyen Huu Vinh, the Import-Export Manager of the 29 March Textile and Garment Joint Stock Company, said instead of seeking the maximum possible orders, his company has placed a heavy emphasis on high value-added products ordered by customers such as vestons, jackets and sports clothes in order to reap the highest possible profits.

He added his company exported about 95% of its textile and garment products with an annual average output of 1.4 million. By the end of this year, the company’s exports are expected to have reached 65 million USD, a rise of 6.4 million USD against last year.

Most notably, the Hoa Tho Textiles and Garments Company, which is one of the country’s 5 leading textile and garment companies, is expected to have gained over 220 and 250 million USD from exports by late this year and 2020 respectively. The company is one of the few companies in Viet Nam to have successfully exported fiber products to such fastidious markets as European countries, Japan, South Korea, Mexico, and Sri Lanka.

However, some local exporters pointed out some difficulties during their operation, including a severe shortage of land fund for expanding their production activities, high dependence on imports for their raw materials, and a lack of skilled staff.

Meanwhile, the signing of a Viet Nam-EU free trade agreement (FTA), the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and more has brought great benefits to local exporters.

According to the Department of Industry and Trade, locally-produced goods have been exported to over 120 countries and territories worldwide. Traditional markets of local exporters are Japan, the USA, and European countries.

Many exporters have taken the initiative to renew their technologies and products, and expand their production activities.

Currently, most of the businesses operating in the city are taking the initiative to expand their businesses, renew their technologies and products, and promote their brand names in order to boost their development and international integration.

Mr Huynh Van Chinh, the Chairman of the Board of Directors of the 29 March Company, remarked his traditional markets have increasingly set stricter requirements on origin traceability, the quality and designs of products.

He added in attempting to maintain its traditional customers, seek its partners and expand its consumption markets, his company has spent billions of VND on installing new equipment and modern machines such as automatic lace and gluing machines, as well as training high-quality human resources.

Notably, in 2018 alone, the 29 March Company has officially put into operation a factory with 12 production lines with a capacity of 700 units/ line/ day in Quang Nam Province’s Duy Trung Commune in order to meet the increasing demands of customers.

By 2019, the company will open a new 6ha factory with 20 production lines in Thanh Khe District.

Next year, the Thuan Phuoc Seafood and Trading Joint Stock Company is planning to build a new shrimp processing factory in Tien Giang Province, and expand its shrimp farm in Thua Thien Hue Province from 70ha to 200ha. This is considered as one of the company’s important steps to seek new sources of raw materials, enhance its production capacity, increase its exports to its traditional markets, and fully tap the potential of the US market.

In an effort to help the city’s exporters to expand their markets, the Da Nang authorities have issued numerous preferential mechanisms and policies. Included are industrial promotion programmes, the organisation of training courses for skilled workers, and promoting the development of support industry sector.

Top priority has been given to helping local businesses update information relating to import-export mechanisms and policies, introducing them effective ways to implement integration commitments, and developing e-commerce.