Tien Giang Pools Resources towards Market Development

3:26:37 PM | 8/7/2005

In recent times, trading activities in Tien Giang province have had a positive impact on the development of local trade and economy. The market has expanded both locally and abroad with total exports reaching US$125 million in 2004 and expected to reach US$145 million in 2005. Locally-invested businesses account for over 90 percent of total export turnover.

Effervescent local market

Businesses are paying more interest to expanding and strengthening their distribution and agent networks, renovating methods of performance, and investing in infrastructure throughout the province and other localities, even in the Central Highlands, Central and Northern regions. Some businesses have obtained initial success after signing consumption contracts with local farmers.

The province now has 174 markets, of which 32 are in urban and 142 in rural areas. Five wholesale markets are going to be built (four for fruit and one for rice) in the province’s five agro trading zones.

Pushing up activities against smuggling, illegal trading and counterfeit trading and production is also a focus of the local authorities. This adds to bring back a healthier business environment to the country. The total volume of goods circulated in the market sees an annual rise, of which the aggregated amount of retailed goods increased from VND2.48 trillion in 1995 to VND7.700 trillion in 2004 and is expected at VND8.47 trillion by the end of this year.

Market expansion

Though trade promotion remains a new concept to local businesses, certain successes have been gained initially. Apart from traditional markets like South Korea, Japan, the U.K, France, Germany and Eastern Europe, new opportunities have also been found in the Middle East, the U.S., China, Cambodia and Laos. Through exhibition and trade fairs, the image of Tien Giang and its potential in trade and investment has been broadly promoted and attracted much attention from both local and foreign investors.

The province is continuing to strengthen and expand its markets to southern key economic zones and Mekong Delta provinces through the planning of an urban network and the development of four trade centres in My Tho City, Go Cong, Cai Lay and Cai Be. It is step-by-step restoring and developing Trung Luong Trade-Service-Science and Technique Complex which will serve the local industrial parks and northern Mekong Delta region; upgrading and building market networks from rural to urban area; opening supermarkets and residential areas; and establishing business alliances with Mekong Delta provinces, Ho Chi Minh City, Hanoi and northern provinces.