A meeting was held recently by the Economic and Budgetary Board under HCM City People's Council and the Department of Trade to monitor the economic restructuring and growth quality of trade in 2005 and the first quarter of 2006.
Participants agreed that the city's export products have been mainly limited to garments and textiles, aquaculture products, and footwear, all posting minimal growth.
The garment and textile sector earned US $1.8 billion last year but 80 percent is consumed by the value of imported raw materials.
Due to procedural lapses, plans for a transaction centre for garment and textile raw materials remains in indeterminate state.
Rice exports registered the highest export revenue at $472 million, an increase of 70.6 percent against 2004 but local businesses were merely involved in the packaging process.
Handicraft sectors export volumes dwindled to 29 percent in 2005 from 32 percent a year earlier.
The State must support businesses by pouring investment in developing infrastructure facilities, training human resources and providing back-up services to exporting activities.
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