Enterprises hold strong trust in exportation prospective

Update: 12-01-2022 | 22:34:39

Entering the New Year and although the epidemic is still complicated, businesses are still confident in the prospect of economic recovery, especially as Binh Duong has well controlled the COVID-19 epidemic. Faced with the opportunity to expand and increase the value of exported goods, enterprises have also focused on taking advantage of free trade agreements (FTAs) for Vietnamese goods to penetrate major markets.

The creation of new breakthroughs

Along with the close direction of the Government, the drastic participation of ministries, branches, local authorities and the efforts of the business community, trade promotion activities in the province have drastically changed to actively support production and exportation. Mr. Mai Hung Dung, Standing Member of the provincial Party Committee, Standing Deputy Chairman of the provincial People's Committee, said: "In extremely difficult conditions due to the impact of the COVID-19 epidemic, ministries, branches, localities and associations have made efforts to research and promptly promulgate support mechanisms, replicate new models and methods of trade promotion based on promoting the application of information technology and digital transformation, etc. that nterprises recognized and appreciated as an important premise for enterprises to break through in the new period. The province is determined to well control the COVID-19 epidemic to facilitate enterprises to develop.

Businesses in Binh Duong recovered quickly after the pandemic and showed confidence in development prospects in the New Year. In the photo: Electronic components are being produced at Gre Alpha Electronic factory in VSIP 2A Industrial Park. Photo: Tieu My

Mr. Nguyen Quang Vu, Chairman of Shoes and Handbag Association, shared that the past 2 years have been a difficult time for exporters in the province due to the impact of the COVID-19 epidemic, as well as many challenges in terms of market purchasing power, competitors and trade defensive issues. However, so far, export activities have recorded more positive signs as export orders and production activities have begun to recover and many enterprises have exported to the sprint stage to ensure production progress. As the domestic economy increasingly integrates with the world and Vietnam participates in new generation FTAs, Vietnam's exports in general and Binh Duong in particular are increasingly penetrating the world markets. This also means that goods exported to markets need to actively be qualified for barriers, technical standards and origin of goods. The shoe-making business community have made great efforts in investing in product research to develop domestic raw materials and create new breakthroughs.

For the woodwork industry, businesses expect that the promotion of trade in the US market - one of the key markets where Vietnamese enterprises in general and Binh Duong's enterprises have been looking for a connection, will create new breakthroughs in the industry's exports. “After the social distancing, many businesses have actively restored their export activities to the US market. At the end of the year and the beginning of the New Year, the shopping needs of people in these markets are even more. Currently, many enterprises in the association also have orders to prepare for the production plan of 2022,” said Mr. Phan The Hai - Director of Trieu Phu Loc Company.

According to Mr. Nguyen Phuoc Viet Dung, Director of Binh Duong Customs Department, the unit has determined that the main task in the coming time is to prioritize supporting enterprises to restore production and business by facilitating trade, customs procedures, customs clearance of goods, and flexibility in minimizing administrative procedures. Binh Duong Customs Department will continue to effectively operate the supporting team to handle problems related to customs procedures for import and export goods.

Compliance to international trade regulations

According to Mr. Andrew Jeffries, country director of the Asian Development Bank in Vietnam, global trade is recovering strongly and in 2022 the recovery in market demand will bring prosperity in the global value chain of the region to bring up many opportunities for Vietnam's exports. However, Vietnam also needs to overcome challenges to reduce trade costs and support SMEs to integrate into the supply chain towards resilience.

Shoe-making enterprises are promoting the domestic supplies of raw materials and make use of opportunities brought about by FTAs. In the photo: Production is at Dong Hung Shoes Company in Di An city

In this regard, Ms. Phan Thi Khanh Duyen, Deputy Director of Department of Industry and Trade, said that in order to help businesses raise awareness about integration, especially the new-generation free trade agreements (FTAs) to prepare necessary conditions and seize opportunities to access potential markets, in the coming time, Department of Industry and Trade will regularly follow the programs and plans of Ministry of Industry and Trade while linking the website of Ministry of Industry and Trade to provide necessary information on origin of goods, technical and legal barriers etc. of FTAs for enterprises in the province. For the project "of Strengthening the application of information technology and digital transformation in trade promotion activities in 2021-2030", Department of Industry and Trade will coordinate with relevant ministries, branches and units to develop a plan to implement the project to support enterprises to promote digital transformation activities.

Ms. Thai Dinh Thuy Linh, Director of the Binh Duong New City World Trade Center (WTC BD), said that it is a very good sign that small and medium enterprises (SMEs) in Binh Duong are increasingly interested in the issues of capacity building and digital transformation by diving into the competitive index. Therefore, WTC BD wishes to act as a bridge for SMEs in Binh Duong in particular and enterprises in general to connect with domestic and foreign partners so that they can learn enough information to develop appropriate business strategies themselves and adapt to the new situation to gradually shape the global export strategy.

Reported by Tieu My – Translated by Vi Bao

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Enterprises hold strong trust in exportation prospective

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