Binh Duong entrepreneurs to be confident of going out to sea

In recent years, entrepreneurs of Binh Duong province have affirmed their role on the market, and are confident of going out to big sea in order to contribute to provincial socioeconomic development.

Showing firm stuff

In the process of provincial socioeconomic development, entrepreneurs have played an important role. In 2015, despite of many difficulties, Binh Duong province continued to develop, due to determination, efforts of all levels, sectors, the consensus, support of all people strata and business community. In the first 9 months of 2015, provincial gross domestic product (GDP) grew 11.3%; Industrial production value continued to rise, export turnover reached $13.9 billion; trade surplus reached over $2.5 billion...

Regarding foreign investment attraction, since early this year, Binh Duong absorbed over $1.5 billion, exceeding 54% year-target. Currently, the province has 19,860 domestic enterprises with total registered capital of over VND145,000 billion, and 2,535 FDI projects with a total investment of $22 billion. Binh Duong is one of the five provinces, cities that attract FDI capital exceeding $20 billion.

Binh Duong entrepreneurs are confident of going out to sea.

Image: Production activities at Dong Hung Company in Tan Dong Hiep A industrial park, Di An town

Along with the overall development, production and operations of enterprises were also developed. Provincial authorities have facilitated business activities through accommodative policies, specific actions. In addition, Binh Duong has also implemented flexibly policies and measures to support businesses in order to remove timely business difficulties in capital, markets, consuming.

Tran Van Nam, Chairman of PPC, said it was the acumen, dynamism and creativity of entrepreneurs to help themselves in sustaining their business, expanding production, contributing to state budget, creating jobs for labors, taking part in community-based activities… These efforts of provincial business community are valuable and admirable.

In the overall difficult context, enterprises in the province still have grown stably, most enterprises had orders until the end of 2015, some large enterprises have signed contracts until the first quarter-2016. Especially, despite of many difficulties, some businesses still maintained their operations, expanded production not only for profits but also because of responsibilities for employees and the hometown. This is the most vivid example of pioneering spirit of entrepreneurs in the industrialization and modernization period.

To integrate actively

Vietnam joined the World Trade Organization (WTO); has signed several free trade agreements (FTA), especially the Trans-Pacific Partnership (TPP). This is considered as a great opportunity for the economic development of Vietnam in general and the development of Vietnamese businesses in particular. Besides, mechanisms and policies facilitating business activities have been focused by the Party and State. However, there are still difficulties, challenges as well as the competitive environment is getting tougher and tougher.

To integrate successfully, entrepreneurs must be really proactive, creative to seize opportunities, innovate completely to adapt to the new situation. Businesses in the province have organized activities to learn more about information of integration, policies, enhanced market research, assesses impacts of the integration on each fields and product type… in order to set up active plans and make promptly adjustments. Business community in Binh Duong has also continuously improved management capabilities; focused on technological innovation in order to enhance productivity and efficiency, reduce production costs, lower product price, and heighten competitive capabilities.

Notably, Binh Duong entrepreneurs have paid more attention to the cooperation and connection between businesses to create strengths while integrating. Tran Ngoc Chu, CEO of Hoa Sen Group, said lately on occasion of Vietnam Entrepreneurs’ Day (Oct 13^th 2015): “As an entrepreneur in the new era, we have put more effort to promote our strengths, enhance dedications to the national development. Despite of new opportunities and challenges, we believe that entrepreneurs throughout the country as well as in Binh Duong province would have enough virtues and capabilities to expand production, increase profits and contribute more to society, because entrepreneurs in Binh Duong province have extensive experiences through the early integration process in recent years”.

Reported by Khanh Vinh – Translated by Ngoc Huynh