Moscow exports to Vietnam
Last year pleasantly surprised analysts with a sharp surge in exports of non-primary non-energy products, which the capital's enterprises transported to Vietnam. So, for 9 months of 2020, its monetary equivalent amounted to about 57 million US dollars - almost 2.5 times more than it was last year. About it on the official website of the mayor of Moscow mos.ru information is posted, and a report is also presented, according to which the volume of Moscow's non-energy exports to Vietnam amounted to 57.21 million US dollars, or 8.5% of the total volume of non-resource exports that Russia carried out in 9 months of the past year. The figure is 143.7% higher than last year's figure (in 2019 it was only $ 23.48 million). Such a sharp jump occurred due to the fact that Moscow has established with Vietnam the supply of new groups of goods that were not exported before. For example, polypropylene.
The list of goods exported to the republic also includes:
¾ food products made with the addition of flour or dairy raw materials. From its sale abroad, $ 7.6 million was earned (an increase of 13.7% compared to last year);
¾ mechanical equipment, computers and other technical devices. Foreigners paid us $3.72 million for them (an increase of 292.1% compared to 2019);
¾ medicines (packaged). They were sold for $ 3.03 million (141.9% more than last year).
Promising directions of the capital's exports
The Vietnamese market is a very promising direction for domestic exports, especially from the point of view of the capital's producers.
The most popular among the Vietnamese are products focused on the specific needs of the population. According to the data published on the Internet, the expenses of citizens of the state of Vietnam for 2019 are as follows. So, the residents of Vietnam spent:
¾ on food — 33.9% of disposable income;
¾ for educational purposes - 7.2%;
¾ for the purchase of household appliances - 7.1%;
¾ for the purchase of goods and services in the field of communications — 6.6%.
Among all the countries of the Asia-Pacific region, Vietnam's consumer market is one of the most dynamic and actively developing. According to the results of the study, since 2015, the volume of Vietnamese consumer spending has increased by about 8% every year. For comparison, the dynamics of a similar coefficient among other states in the region is only 4.7%. In addition, there is an impressive purchasing power of Vietnamese citizens: in 2019, it amounted to more than $ 8000 per capita.
This state of affairs is explained by the following reasons:
¾ Most of the population (69.2%) of Vietnam belong to the category of able-bodied citizens. That is why the unemployment rate in the republic is one of the lowest in the region - about 2%;
¾ The Vietnamese authorities are actively developing large cities and financial centers. This has a positive effect on the standard of living of the population and contributes to the strengthening of all sectors of the economy.
Based on the above, it can be concluded that during the next five-year period, the Vietnamese market will only gain activity. They assume that in 2021 the total demand of Vietnamese for food will be about 85.71 billion dollars, and by 2025 it will reach 125.28 billion dollars, i.e. it will increase by more than one and a half times.
Vietnam's agricultural producers often face difficulties in developing the necessary infrastructure. That is why farmers have a demand for imported seeds, machinery and equipment for agricultural purposes.
And Vietnamese meat consumption is growing from year to year. The republic is among the top 10 countries in terms of consumption of these products. So Moscow suppliers have a great chance to take a worthy place in the meat products market of Vietnam, until someone else has taken this niche. In addition, the demand for:
¾ fermented milk products;
¾ drinks (alcoholic and non-alcoholic);
¾ chocolate and confectionery products based on it;
The rapid growth of the population of Vietnam necessitates the modernization of almost all spheres of life of the state, including the industrial complex. One of the key tasks is to provide citizens with access to clean water and control its use. The capital's specialized companies are able to assist the Vietnamese in solving this vital issue. For example, Vietnamese partners can negotiate with Muscovites about the export of technologies and products in the field of designing water supply systems, reuse of water resources in industrial zones, etc.
Also, the capital's companies can become promising partners for Vietnam in the mining industry. By signing contracts, the authorities of the republic will be able to minimize the level of costs in this area, increase the degree of environmental friendliness of local industries.
Formation of a supply strategy
It is no secret that when entering a new sales market for a company, it is important to understand how it works, that is:
¾ to know the legislation of another state;
¾ be aware of the needs of the population;
be knowledgeable in licensing, certification, logistics.