Nghe An targets $4bln in annual goods export revenue by 2025

North-central Nghe An province has set a target of earning $4 billion annually from exporting goods by 2025 and $7 billion by 2030 in its import and export strategy to 2030.

Export growth in the 2021-2030 period is anticipated to come in at 19 per cent a year.

The province is to increase its exports of processed industrial products to 95 per cent of the total by 2030.

Exports to Europe are to rise to 12 per cent of the province’s total by 2025 and 20 per cent by 2030, to the US to 18 per cent and 25 per cent, respectively, and to Asia to 68 per cent and 52 per cent, respectively.

It posted export turnover of $3.11 billion in 2023.

Nghe An is to become a new hub in manufacturing electronic products in Vietnam, having attracted five giant tech corporations, namely Foxconn, Luxshare, Goertek, Everwin, and JuTeng.

It attracted over $1.6 billion in FDI last year.