Foreign-invested firms such as Samsung and LG are major exporters in Vietnam.
Foreign-invested enterprises (FIEs) operating in Vietnam, including those in the oil and gas sector, saw their exports up 13.5% year-on-year in the first 11 months this year to $105 billion, accounting for 70% of the country’s total export turnover, according to the Foreign Investment Agency under the Ministry of Planning and Investment.
Their imports grew 18% year-on-year in the period to $90 billion, making up 59% of Vietnam’s total import value.
Vietnam’s export staples in the 11-month period include phones and spare parts, worth $28 billion; apparel, worth $20 billion; computers, electronics and components, worth $14 billion; and footwear, worth $13 billion. These sectors are mainly dominated by FIEs.
sector has maintained high growth rates and contributed majorly to Vietnam’s merchandise export growth over the past few years,” the agency said.