Industrial production keeps on stable growth

In the first quarter of 2021, the industrial production index of the province increased by 6.89% over the same period. This is a relatively high growth rate compared to the general growth rate of the whole nation, affirming the correct direction and administration of the provincial authority which has been determined to realize the "dual goal" of effective epidemic prevention and control and socio-economic development promotion.

Various enterprises in Binh Duong by online product introduction and dissemination have received major orders to assure their production for exportation

Right from the beginning of the year, Binh Duong effectively implemented measures to prevent and control Covid-19, in association with continual improvements of the investment environment to enhance competitiveness and strengthen the support for development of enterprises through perfecting the socio-economic infrastructure system and promptly solving difficulties and problems to create favorable conditions for investors and enterprises to promote production and investment cooperation.

With the prosperity of important export markets such as the US, Korea, Japan, Taiwan, and Hong Kong, many key industries of the province such as wood processing and furniture manufacturing, machinery, footwear, textiles and garments saw an increase in new export orders. This is a good signal to promote industrial production activities in the province. Le Thi Xuyen, General Director of Thuan An Wood Processing Joint Stock Company, said that in the early months of 2021, although the production and business activities of the wood processing industry were still facing many difficulties, Thuan An Wood Processing Joint Stock Company still strives to maintain stable production and export activities. Enterprises are also making good use of the signed Free Trade Agreements (FTAs) to expand international trade and new export markets, avoiding over-dependence on any market. The good sign is that wooden furniture in the last months of 2020 and early 2021 have returned to export orders. The company continuously increases shifts and recruits more employees to ensure the progress, contributing to promote the company's growth in the following years.

Currently, Binh Duong has over 8,500 enterprises operating in industry, in which, FDI enterprises are accounted for 26.4% of the total number and for 63.3% of the value of industrial production in the area. The export value of FDI enterprises is accounted for over 82% of the total export turnover, focusing mainly on the US market (accounting for 31.5%), South Korea (accounting for 10%), and Japan (accounting for 9%), Taiwan (accounting for 7.4%), and Hong Kong (accounting for 6.6%).

Although trading with many countries is still difficult, many enterprises in Binh Duong through the form of online product introduction and promotion have received large orders, ensuring production and exportation. Currently, many businesses have received orders until the second quarter of 2021, some businesses even have had orders until the end of 2021. Besides, the support and timely solutions to difficulties for businesses to push production and business activities of all levels and branches in the province over the past time have contributed to make the industry maintain its growth rate. Accordingly, the industrial production index of the whole industry in the first quarter of 2021 was estimated to increase by 6.89% year on year. In which, the manufacturing sector increased by 6.88% year on year. The industry continues to play a key role of driving the overall growth, accounting for 98.9% of the industrial production value.

The prosperity of the industry in the difficult economic context of the on-going epidemic is the result of efforts from the province to departments, branches and localities. A series of radical, feasible and synchronous solutions have been deployed. In particular, the foremost important task is to continue with administrative reforms, focusing on solving difficulties for production and business activities, ensuring enterprises to stabilize their production. At the same time, the business investment environment is improved by accelerating projects for sustainable industrial development and promote investments into the construction of infrastructure and attraction of more production projects in industrial zones and clusters. Favorable conditions are offered to support enterprises to develop production and business and well exploit the existing strengths of the industrial development.

Nguyen Thanh Toan, Director of Binh Duong provincial Department of Industry and Trade, said that in addition to supporting and creating favorable conditions for businesses, the department also coordinates with Binh Duong provincial Management Board of industrial zones to promote investment into infrastructure and attraction of more production projects into industrial zones and clusters; the state management of land is strengthened to offer favorable conditions for supporting enterprises to develop production and business; the attraction of investment is promoted for projects using high technology, clean technology, competitive products, and environmentally friendly. The Department continues to promote investment promotion and prepare fully for major investors with long-term strategy to strengthening management, to support and strive to increase the industry index by 9.2% by 2021.

Reported by Ngoc Thanh – Translated by Vi Bao

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