Efforts made to maintain the rhythm of industrial production

While the economy is facing many difficulties and challenges, Binh Duong has been synchronously implementing development solutions to support the business community, continuing to make industrial production a driving force for growth of the province, especially creating jobs and stable income for workers.

Many industrial production enterprises in the province are making efforts to recover and develop. In photo: Production activities at Bonfiglioli Vietnam Company (My Phuoc 3 Industrial Park).

 Auspicious start

From the beginning of 2024, Binh Duong effectively implements socio-economic development solutions, together with the improment of the investment environment; enhances competitiveness and increases support for business development by improving the infrastructure system; promptly resolves difficulties and obstacles, creates favorable conditions for investors and businesses to develop production business activities and investment cooperation. The province continues to direct all levels, sectors and localities to promptly have plans to support businesses in overcoming the labor shortage after Tet, support workers to return to the workplace, especially businesses that are recovering and developing production and business.

In the first two months of 2024, industrial production activities have prospered, enterprises have proactively sourced raw materials, signed many orders, and sped up production to serve domestic consumption and export demands. Many of the province's key industrial production sectors, such as wood processing, machinery and equipment, footwear, textiles and garments, have increased the number of new export orders, thus businesses have to recruit large numbers of workers. This is a good sign to stimulate industrial production activities in the province.

According to assessment of Provincial Department of Industry and Trade, in 2024, industries in the province would continue facing many challenges due to the general impact of the global economic slowdown, access to and use of resources by businesses would still have many difficulties... Therefore, Department of Industry and Trade will continue to proactively and effectively implement business support policies approved by the Government and Provincial People's Committee to remove difficulties and obstacles in production and business activities, especially for key export industries such as wood, textiles, footwear, electronic components...

Make good use of the opportunity

According to the Provincial Statistics Department, in January 2024, the Industrial Production Index increased by 27.8% over the same period last year. Of which, the processing and manufacturing industry increased by 27.2% year-on-year. Currently, key export products such as wood products, textiles, leather shoes, computers, electronic products and components... are making good use of signed trade agreements to expand international trade and new export markets. Many enterprises have promoted online sales through online sales channels globally, along with many key solutions implemented synchronously and drastically in the province with the expectation of supporting production and business activities to achieve impressive results of prosperity in 2024.

Recently, Panasonic Electric Works Company officially put into operation its wiring equipment factory at VSIP 2. This new factory helps increase the company's capacity by 1.8 times compared to the current level, reaching nearly 150 million devices/year. According to a representative of Panasonic Electric Works, the company will promote optimization of production lines of new factories as well as existing factories to shorten production and delivery times. At the same time, the company will optimize the production line by integrating with solutions from Tsu factory with modern production technology from mold making and assembly in a closed process, aiming to by 2029, produce 150 million devices/year. In addition, the company also accelerates the application of automation technologies developed in Japan and is expected to double the current rate of automation by 2025.

Currently, Binh Duong has about 9,000 enterprises operating in industrial production, of which FDI enterprises account for about 25% of the number and over 57% of the value of industrial production in the province. The export value of FDI enterprises accounts for about 80% of the province's total export turnover, focusing mainly on the US, Korea, Japan, Taiwan, and Hong Kong markets. Main export products, such as: wooden furniture, machinery, equipment, textiles, raw materials for textile and garment industry, leather and shoes...

Nguyen Thanh Toan, Director of Provincial Department of Industry and Trade, said that to promote industrial production development in 2024, in addition to effectively taking advantage of opportunities from free trade agreements to increase value, the department continues to enhance industrial restructuring by increasing the proportion of processing, manufacturing, and supporting industries, giving priority to high-tech industries, electronics industry, clean energy industry and localization rate; At the same time, strongly promotes innovation, digital transformation, high technology application, develops new business models and activities, e-commerce... to support production and business.

 Reported by Ngoc Thanh - Translated by Ngoc Huynh