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Economy recovers, enterprises keep the faith

Update: 21-11-2020 | 08:58:51

The Covid-19's re-outbreak from beginning of 2020 has affected most businesses in the province. However, amidst the difficulties, there were opportunities, especially the belief of enterprises is being firmly strengthened in solutions and efforts to fight against the epidemic, socio-economic recovery of the province.

Stable production and business situation helps strengthen enterprises' confidence. In photo:  Manufacturing activities at NTI Vina Company, VSIP 2.

 Optimistic signs

According to provincial Statistics Bureau, survey results of business trends of 462 enterprises in provincial processing and manufacturing industry showed that 51.54% enterprises assessed the production and business situation in the third quarter of 2020 was better than the previous quarter; 614.32% enterprises rated it difficult, and 34.14% enterprises found that the business and production situation was stable. Regarding the number of new orders, 34.84% of enterprises assessed that orders in the third quarter of 2020 were higher than the previous quarter; 16.06% of enterprises assessed that orders' number decreased, and 49.1% of enterprises assessed that the number was stable. Regarding the number of new export orders, 31.02% of enterprises evaluated the number of third quarter of 2020 increased over the previous quarter; 17.65% of enterprises said that the number decreased, and 51.34% of enterprises said that it was stable.

In the fourth quarter of 2020, 93.17% of enterprises believed that the production and business situation would be more stable and better. In which, 61.23% of enterprises rated that the trend would be better; 31.94% of enterprises said that the business and production situation would be stable, and 6.83% forecasted difficulties.

Looking ahead, there are many reasons to feel more optimistic as 100% of state-owned enterprises evaluated that in fourth quarter of 2020 the business situation would be more stable and better than in the third quarter; 94.29% of non-state-owned enterprises believed in fourth quarter of 2020, business situation would be more stable and better than in third quarter; 92.46% FDI enterprises sector forecasted the business and production would be stable and better than the third quarter. Regarding the number of new orders, 42.02% of enterprises forecasted higher number of orders in the fourth quarter of 2020 than in the third quarter; 52.58% of enterprises have stable number of orders, and only 5.39% of enterprises have decreased number of orders. In particular, regarding the number of new export orders, 35.92% of enterprises said that the fourth quarter of 2020 would increase more than the third quarter, and 57.11% of the enterprises said it would be stable. This will help enterprises grow in the future.

The above numbers imply an improvement in production and business activities; this result shows the confidence of enterprises has been improved. According to Ly Ngoc Minh, CEO of Minh Long 1 Ceramics Company, despite fluctuations of the global epidemic, the above survey results from enterprises shows that Binh Duong has taken quick response and effective measures in preventing and controlling the spread of epidemic, keeping the provincial economy stable.

According to provincial Department of Planning and Investment, as of Oct 15th 2020, the total newly registered capital and capital increase of foreign direct investment is estimated at nearly 1.7 billion USD. In which, 108 newly licensed projects with a total registered capital of over 589.7 million USD, 72 projects with capital increase of nearly 306.6 million USD. The accumulated number of valid projects is 3,909 projects with total capital of 35.23 billion USD. According to Department of Planning and Investment, there are still many foreign investors want to make investment in the province, but due to the impact of the Covid-19, the investor's travel, new investment decisions, and expansion of FDI projects continue to be affected. Although it was a decrease compared to the same period last year, this result is a good signal, while the global and national investment result plummeted due to the impact of the pandemic.

To provide assistance for businesses

It can be seen that a more optimistic trend about the future of production and business in the province is clearly happening. However, the requirement is to proactively support, stand side by side with businesses in an effective and practical way. At a meeting between provincial leaders, industry associations and businesses of the province recently, representatives of enterprises all informed their difficulties due to being affected by the Covid-19. Enterprises are most concerned about now is access to low interest capital; support for social insurance policies to retain employees; rent land for factories with reasonable area and price for business development...

Kim Won Sik, Chairman of Kocham Binh Duong, said that in general, Korean enterprises in Binh Duong this year faced many difficulties. However, Binh Duong has been a land of interest for Korean businesses to expand or make investment. "We appreciate the efforts, determination of Binh Duong provincial leaders to improve the investment and business environment. Especially, the mindset of provincial leaders is innovative, creative; the province regularly holds meetings between enterprises in Kocham and governmental agencies, departments in the province to create a close relationship between agencies. industries and businesses. When enterprises have problems, they immediately get helps and supports”, added Kim Won Sik.

Nguyen Hoang Thao, Chairman of Provincial People's Committee, said that socio-economic infrastructure system of the province has received good investment and brought into full play; investment environment continues to be improved; trust of the business community and society is increasing... From there, growth is stimulated, a new driving force for development is created. This result shows that the province's ceaseless efforts as well as new and drastic ways to manage, coordinate the economy, improve the business investment environment in the right direction, are supported by business community and investors.

 Reported by Ngoc Thanh - Translated by Ngoc Huynh

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