Ho Chi Minh City grossed over $7.1 billion from exports in the first nine months of this year, a year-on-year rise of 31.2%, according to the city’s Municipal Statistics Department.

Garments brought in $578.6 million, up by 3.4%, whilst exports of footwear brought in $161.5 million, a rise of 6.6 %. Exports of rubber products declined sharply dropping by 26% to $32.6 million. During the reviewed period businesses imported goods worth approximately $4 billion, a year-on-year rise of 16.8%. Footwear materials accounted for $37.1 million

In the past nine months an additional 91 projects worth $308.68 million were invested in industrial and export processing zones in the city. The figure brought the total investment projects in these zones to 940 with a combined capital of $2.72 billion. 408 projects came from abroad with a total investment of $1.61 billion and, among others, concentrated in the textile and garment industry.

In the coming period the city will give priority to high-tech projects with an aim of restructuring the local economy. The Renesas group owned by Japan's Hitachi and Mitsubishi has decided to pour $12 million into the Tan Thuan export processing zone. In the meantime local exporters hope for a bright future in the remaining months of this year due to growing demand from the European, US, and Japanese markets.

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