Despite difficulties, Binh Duong’s industrial manufacture in the first nine months of 2013 showed signs of recovery with a 12.8% growth.. Of the total, the domestic investment sector increased by 12.3%. The remaining 3 months of the year will be a period for province-based enterprises to sprint for completion of a 17% growth plan under the resolution of provincial Party Committee. 

Provincial leaders visiting Finecs Electronics Company in VSIP 1

9-month acceleration

In the first nine months of 2013, Binh Duong’s industrial manufacture showed signs of recovery. The result came from the local authorities and sectors at all levels in taking measures to stabilize macroeconomics, remove hurdles in production and business, deal with bad debt. Another thing there was stabilization on exchange rate, inflation, import material price, workforce and reduction on interest rates.

Such these apart, Vietnam’s main export markets, including EU, US, Japan, Australia, Brazil, Argentina, Middle East…are rebounding. Together with this, the positive effects from the negotiation of the Trans-Pacific Partnership Agreement (TPP) have also opened many opportunities for province-based enterprises. Noticeably, province-based enterprises have made efforts in seeking new markets, helping them reduce difficulties and stabilize their production and business activities.

According to a report by provincial Department of Industry and Trade, the province’s industrial production value in the first nine months of the year was estimated at more than VNS108.144trillion, up 12.8% compared to the corresponding period or 66% of the year’s plan. Of these, the domestic investment sector reached more than VND35.460trillion, up 12.1% while the foreign investment sector achieved more than VND72.684bln, up 13.2%.

Processing industry took the lead with an increase of 13%. Among products with high growth in output compared to the same period last year, semi-conductors increased by 55.7%, steel bars up 26.8%, plastic up 20.4%... The amount of province-based enterprises’ export orders in the first nine months of the year also saw a 10%-15% growth compared to the corresponding period last year.

Making a sprint for remaining 3 months

To fulfill 2013’s targets on socio-economic development, including reaching a 17% growth on industrial production value, according to the instruction of provincial People’s Committee Chairman Le Thanh Cung, provincial Department of Industry and Trade, Department of Planning and Investment, Tax Department…have soon taken measures to enhance enterprises’ competitive ability, help remove their hurdles and support the domestic market.

Vo Van Cu, Director of provincial Department of Industry and Trade (DoIT) said that provincial DoIT in collaboration with provincial Department of Statistics and Industrial Parks Management Board made inspection tours of 48 enterprises and 6 business associations in the province in order to know about their production & business and labor situation in 2013, helping them basically deal with inventories, expand markets and stabilize their production and business activities in the first nine months of the year.

With the goal of helping enterprises to seek opportunities for market expansion, provincial DoIT during the period also cooperated with relevant agencies to organize a workshop on “Trans- Pacific Strategic Economic Partnership Agreement (TPP) and its impacts on Vietnam’s garment and textile industry”; opened a meeting between trade counselors and 123 representatives from province-based enterprises; teamed up with provincial Young Entrepreneurs’ Association and relevant agencies to receive an advance delegation from the Emilia-Romagna region in order to provide Italian businesses with a tour to Binh Duong for seeking opportunities for cooperation in trade and investment.

Provincial DoIT’s Industrial Promotion Center has so far implemented projects on investment support and they are seen as a lever for thousands of small and medium-sized enterprises, those with industrial production in the rural region to apply sci-tech advancements into production, regulate their tasks of management and labor training, aiming to increase their competitive ability to overcome difficulties and get ready for integration in the coming time. The center has also actively organized market-days of “bringing Vietnamese goods to rural areas”; promoted the campaign of “Vietnamese people give priority to using Vietnamese goods”; supported enterprises to take part in trade expos at home and abroad; sped up trade promotion to develop distribution channels, helping enterprises expand their markets.

Many enterprises have spoken highly of provincial leaders and functional agencies’ attention to their development. During his recent visit to Binh Duong, Minister of Industry and Trade Vu Huy Hoang has also highly appreciated Binh Duong’s economic achievements done over the past time, especially in industrial manufacture. He affirmed: “With flexibility, creativeness plus drastic measures in removing enterprises’ difficulties and ensuring social welfare, Binh Duong will fulfill its 2013’s plan on socio-economic development and it is still one of Vietnam’s leading localities in industrial manufacture”. To be worthy of the trust, Binh Duong-based business community is accelerating to overcome difficulties for better development. They also always receives the attention and help from the local functional agencies.

Reported by Bao Anh-Translated by K.T