Enterprises “sprint” to ensure growth plans

Update: 31-10-2022 | 11:13:36

The fourth quarter of every year is always determined by export enterprises as the "sprint" time to complete their set production and business plans. In 2022, despite having many obstacles, enterprises have still tried their best to successfully complete the set targets from the beginning of the year.

Efforts to manage and adapt

In the remaining months of the year, many enterprises are facing difficulties, due to the influence of the world’s economic - political situation. The good news is that many enterprises are still trying to complete their year-end orders and start planning for 2023.

Province-based enterprises make efforts in production at year-end orders. In picture: Production at Dai Hoa Co., Ltd. in Tan Uyen town

Nguyen Thanh Nghia, CEO of Dai Thien Loc Company said that in the common difficulties of the world, Dai Thien Loc has still kept orders, maintained production and stabilized workers' lives. “We are actively investing in science and technology, promoting sustainable development to increase competitiveness. In a volatile period like today, nothing can be said and enterprises focus on the competitiveness of products, affirming their market positions at home and abroad so that in any situation, we try to adapt to”, Mr. Nghia said.

With efforts to manage as well as making good use of free trade agreements (FTAs), leather shoe exports, especially in enterprises with large FDI are seeing good growth. Cyndi Chen, Director of Dai Hoa Co., Ltd.’s Personel Department in Tan Uyen town said: “The company is maintaining the annual output of 10 million pairs of shoes. We regularly contact our partners to understand changing requirements from the market while making great efforts to ensure goods, meeting market demand and stabilizing the lives of employees. The company has also mapped out plans for 2023.”

With the textile and garment industry, in order to achieve the set plan, enterprises have made great efforts and quickly adapted to the challenges of the market. At this time, they are managing to maintain operations. It is known that large-scale enterprises with abundant orders tend to share with the ones lacking orders. Others look for short-term opportunities in the domestic market. Besides, enterprises have made linkages to find orders in new markets. For example, domestic enterprises have associated with their partners in India and Pakistan to exchange orders into markets.

According to Phan Le Diem Trang, Chairwoman of provincial Textile and Apparel Association, enterprises have turned to manufacturing value-added products in the medium segment in order to keep their orders and market in the context of inflation at present while expanding online channels, creating the best conditions for consumers to access products.

Accordingly, exports not only depend on five traditional markets like the US, Europe, Japan, Korea and China, but also start shifting to Russia and some other countries. In addition, enterprises have faced the shortage of traditional orders such as jeans, khakis or T-shirts. But, they have quickly shifted from knitted items to the woven ones…

Another remarkable point is that the industry’s enterprises have also adapted very quickly when investing in technology and automation to adapt when products’ structure changes. In addition, when facing with a decrease in orders, enterprises have rearranged working hours. They do not organize overtime, but only work during office hours or reduce the number of working days in the week to ensure jobs and stable incomes for employees.

Supporting export enterprises

Regarding the demand for goods in key export markets in the last quarter of 2022, provincial Department of Industry and Trade has continuously created conditions for enterprises to participate in market connection programs organized by the Ministry of Industry and Trade, thereby helping them capture consumer demand in partners’ markets. According to feedback from enterprises, despite economy facing difficulties, consumer demand of the world’s market will still increase at the end of the year.

According to Le Ba Phu, Director of the Trade Promotion Department under the Ministry of Industry and Trade, in the last months of the year, the ministry will focus on boosting exports, promoting production development by supporting enterprises in market information, export promotion, taking advantage of commitments in signed free trade agreements, finding new markets through global value chains. Enterprises need to actively participate in online conferences of trade counselors in countries and territories, have direct dialogues with representatives of associations to update new information related to export markets.

Currently, markets that are important trading partners of Vietnam such as China, Japan, Taiwan (China) ... are still applying strict measures against the pandemic, greatly affecting the supply chain of raw materials, materials and consumption of Vietnam’s textile products. Along with that, the requirement for traceability of cotton, fabric, yarn or greening of textiles from new-generation free trade agreements are also challenges that Vietnamese textile and garment enterprises are facing. The textile and garment association is also very eager to have support in customs clearance of goods, technology support to adapt to the new context.

Phan Thi Khanh Duyen, Deputy Director of provincial Department of Industry and Trade: The fact that is that the world’s market has suddenly got difficult and the world's demand has dropped sharply, due to the economic recession, high inflation....But, with the efforts of enterprises in "paying debts" for orders, plus the support of ministries, sectors and localities while promoting digital transformation, green management of production, it is believed that they will meet the targets of export growth.

Reported by Tieu My-Translated by Kim Tin

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Enterprises “sprint” to ensure growth plans

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