Samsung factory production

FDI firms’ exports up 31% in 2012 over 2011

Samsung factory production

Export revenues of foreign firms increased 31.1 percent in 2012, accounting for 64.2 percent of the country’s total exports.

Tran Thanh Hai, deputy  director of the department, said the foreign firms have brought cell phones and accessories to the top of Vietnam’s export list with $12.32 billion in revenue last year, replacing crude oil exports worth $8.23 billion.

 

Exports of foreign companies in Vietnam have continued to grow at a rapid rate this year despite the macroeconomic problems that have caused many local firms to either close or scale down their operations, according to a report by the Ministry of Industry and Trade’s Import and Export Department released at a conference in Hanoi.

A total of 2,847 foreign companies were listed as major exporters last year for shipping goods worth at least US$1 million, including Samsung Electronics which exported $10.9 billion, up 77.8 percent from its 2011 output.

Tran Thanh Hai, deputy  director of the department, said the foreign firms have brought cell phones and accessories to the top of Vietnam’s export list with $12.32 billion in revenue last year, replacing crude oil exports worth $8.23 billion.

The group also paid $3.7 billion in taxes and other obligatory fees to the state budget in the first quarter of this year.

Customs officials at the conference said they are polling opinions about granting preferential treatment to more foreign companies, in addition to the current 13 which have been deemed transparent and have annual export revenues greater than $300 million.

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