Vietnam to export more processed goods

Vietnam will increase the proportion of processed items for export in the total exports to 65-70 percent in 2010 from current 50 percent, while reducing shipments of fuels, minerals and raw materials, local media reported Friday.

The Industry Ministry has set targets of gaining export turnovers of some 10 billion U.S. dollars from garments and textiles, 6.5 billion dollars from footwear, 5 billion dollars from woodwork, and 4 billion dollars from electronic appliances and computer parts in 2010, said local newspaper Vietnam Economic Times.

The ministry is instructing local enterprises to intensify production of electric wires and cables, ships, mechanical goods and woodwork, and focus more on European, American and African markets.

In the first five months of this year, Vietnam earned over 2.1 billion dollars from exporting garments and textiles, a year-on- year surge of 31.1 percent; nearly 1.4 billion dollars from footwear, up 21.1 percent; and 803 million dollars from woodwork, up 29.8 percent, according to the country's General Statistics Office.

Source: Xinhua