To make good use of opportunities for growth

 Although the COVID-19 is still complicated, up to now, most companies are optimistic, expecting business opportunities and benefits in the "new normal" period as well as in the long term, especially the advantages from free trade agreements (FTAs).

Production of semiconductor components at an enterprise in expanded VISIP 2 Industrial Park.

 Expectation on FTAs

Experts' analysis and forecasts show that, in the medium term, companies must prepare a business scenario to accept "living together" with COVID-19. In particular, the enhancement of production activities combined with disease epidemic prevention control should receive special attention to. Up to now, companies have been very aware of the difference between direct benefits and long-term development opportunities from FTAs. If applying and promoting effectively, it will be a solid launch pad for Vietnamese companies to rise strongly in the globalization context. According to Phan Le Diem Trang, Vice Chairwoman of Provincial Textile and Apparel Association, specific benefits from FTAs that businesses are expect on are opportunities for cooperation and joint ventures with foreign partners, favorable business environment, easy access and deep participation in the global value chain with higher added value, imported raw materials at good prices...

In order to actively support enterprises to improve capacity and integrate deeply, provincial Department of Industry and Trade set up teams to monitor and implement the approved projects. Every month, the teams report results of their activities during a meeting. In addition, content of the projects were informed to concerned localities, departments and branches for implementation. Currently, Department of Industry and Trade is carrying out 2 projects and is collecting opinions of departments, branches and localities for the second time. In which, the project "Building database of industry and trade" is collecting information from departments, units and localities. In particular, the project "Assessment of the impact of Vietnam - European Union Free Trade Agreement (EVFTA) on socio-economy conditions of Binh Duong province", is collecting opinions of departments, sectors and localities about the draft implementation outline.

To heighten the value chain

Bui Thi Thu Huong, General Director of Vinut Company (Di An City), said that in fact, besides the advantages of natural conditions, geographical location, complete infrastructure, Binh Duong also strives for the administrative reform, constantly improves the investment environment, promptly solves difficulties of enterprises. Especially in 2020 and the first quarter of 2021, Binh Duong promptly solved difficulties, created favorable conditions for companies to boost investment, increase production and product consumption, so businesses maintained their good growth. Enterprises also expressed their wish to soon have value chains, meeting the requirements of integration, improving the competitiveness of "Made in Binh Duong" products.

In recent times, in Binh Duong, corporations have started modern factories, promoting the development of end-to-end value chains. Recently, Spartronics LLC - a manufacturer of electronic and mechatronic devices for civil aviation, defense, aerospace, control, life sciences and healthcare - officially started the construction of a new factory in South Tan Uyen Industrial Park. This state-of-the-art factory will enhance advanced electronic manufacturing and machining capabilities.

Paul Fraipont, President and CEO of Spartronics Group, said Spartronics's factory in Vietnam specializes in manufacturing complex products that require high precision. The entire value chain is located in Vietnam, including the provision of engineering services, sample production, manufacturing, supply chain management and after-sales service. “Vietnam occupies an important role, not only because of the rapid growth in the region but also a key position in the development strategy of the corporation. The new factory demonstrates a commitment to a long-term investment in Vietnam, meeting customers' high expectations for product and service quality, and contributes to overall growth”.

Tran Dung, Vice President and General Director of Spartronics Vietnam, also agreed with the above statement. He added that the company hopes and believes that the new factory would meet the growth demand in the future. “With a turnover of 400 million USD, our factory network is located in the US and Vietnam, providing technical support for product development including from start to finish, support for mass production”, said Tran Dung.

 Reported by Tieu My - Translated by Ngoc Huynh

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