Quang Ngai-base forestry enteprises have been facing challenges in exporting their products: the more they export the greater loss they incur as a result of increasing prices, bank interest rates as well as scarcity of foreign currency.
According to the Procincial Association of Forestry Processing, forestry-exporting enteprises now can hardly buy foreign currency with bank-listed prices, they have to resort to much higher negotiated prices.
Input materials for forestry processing have so far since the beginning of the year increased by 30%, that rate of transport fee also experiences the same increase.
Moreover, the enteprises confront shortage of capital due to loan-tightening policy by all commercial banks. The interest rate has increased from 0.7% to 2% per month which seems unaffordable to the enteprises.
Quang Tho Co., Ltd., a forestry exporting company based in the province’s district of Mo Duc, complains it dares not to export for fear of great loss though it has some VND 10 billion woth of products in stock.
Quang Ngai Government is reported to have worked out some measure to help the enteprises overcome the facing challenges as the provincial export turnover for the first 6 months has just reached some USD 32 million, lesser than planned.
M.T
