The specific goal of Yen Bai is for the export value of agro-forestry products to reach 23 million USD between 2021 and 2025. The main group of agro-forestry products includes tea, which had a value of about 3 million USD, cassava, which had a value of 3.3 million USD, wood and wood products, which had a value of 15 million USD, and promotes cinnamon exports, which had a value of 1 million USD.
Yen Bai promotes cinnamon exports
Vietnam anise cinnamon cooperative (HTX), which is situated in Dao Thinh commune, Tran Yen district, in the middle of the second-largest cinnamon region of the province, has set itself the objective of producing high-quality cinnamon products that meet export standards. The cooperative currently produces more than 10 different types of high-quality Vietnam cinnamon products including cinnamon sticks, cinnamon sticks, cinnamon sticks, powdered cinnamon, cinnamon essential oil, etc… has strong competition and stable selling price. Yen Bai promotes cinnamon exports in the following years
Yen Bai promotes cinnamon exports photo 1
The cooperative aggressively pursues scientific and technological advancements, incorporates new technologies into manufacturing, and takes part in local and international trade fairs and seminars in order to increase the value of its products. The cooperative’s products are currently available in 7 countries, including fastidious markets like Japan, Korea, the United States, and France, and are well regarded by international consumers.
These products all have the trait of being constructed mostly from raw materials, allowing for more control over input product quality and lower raw material costs.
Additionally, companies and HTX have developed value chains; the focus is put on investing in the region with a system of cutting-edge manufacturing lines, skilled labor, and production using Industry 4.0 technologies… These elements are what led to the development of high-quality products and confidence among partner organizations.
There are still difficulties
In order to meet the export market, Yen Bai province has recently made significant efforts to build agricultural and forestry products. In contrast to the potential and strength of the area, there are few agricultural things sold for export, and there are no deep-processed products too. As a result, the value of the products does not match the cost of labor and the production process. For Yen Bai agriculture, this represents a big challenge going forward.
Yen Bai promotes cinnamon exports photo 2
Opportunity to join competitive markets
Recently, Yen Bai businesses have accessed challenging export markets by utilizing the benefits and incentives of FTAs. “The Department of Industry and Trade will continue to strongly propagate information and effectively take advantage of opportunities of FTAs, especially generational free trade agreements,” said Mr. Nguyen Dinh Chien, Deputy Director of the Department of Industry and Trade. “New information such as CPTPP, EVFTA, UKVFTA.” Exploiting fresh information on import and export policies as well as global economic integration simultaneously “helps firms implement production, business, and search, as well as develop the export market of goods.”
According to Ms. Pham Quynh Mai, Deputy Director of the Ministry of Industry and Trade’s Multilateral Trade Policy Department: “Businesses need to invest in the region since Yen Bai has a strong agricultural and forestry export industry. Regarding Yen Bai’s products to be suitable for export to the EU market, products must be clean all through the whole production and processing process, including the raw materials.”
Yen Bai promotes cinnamon exports photo 3
Therefore, Yen Bai province has released the project “Promoting the export of agro-forestry-fishery products to 2030” in order to encourage the expansion of export turnover of the province’s key agro-forestry-fishery products, improve the quality and value of exports to meet the regulations of the import market, and simultaneously build gradually the reputation of the province’s agricultural, forestry, and fishery products in the global market. Yen Bai promotes cinnamon exports
