Industrial production recovers its momentum

In the last months of 2020, Binh Duong's economy has gradually recovered its growth pace. With the involvement of Party committees, governments, and efforts of enterprises, production establishments in the province, the industrial production situation has been sustained and gradually recovered. In the remaining months of 2020, the province's industrial production is accelerating, drastically implementing many solutions with an expectation of fulfilling targets.

Employees in enterprises are busy working to timely fulfill orders at the end of the year.

 Enterprises are speeding up

After a long time being affected by the Covid-19, in the last months of the year, provincial enterprises are speeding up manufacturing progress, applying many new methods to find more orders of export goods. Ly Ngoc Minh, General Director of Minh Long 1 Ceramics Company, said that in recent months, Binh Duong ceramic enterprises had been continuously receiving large orders. Currently, most companies have to organize overtime work, operate at 150-180% exceeding their capacity to timely deliver goods to partners.

According to Ngo Tuan Oanh, Head of Taiwan Merchants Association (China) in Binh Duong, Covid-19 has affected 40% of timber enterprises, many companies have had to expand work schedule. However, enterprises in Binh Duong have taken the proactive plan, in addition to orders from the previous year, to maintain production and reduce the negative effects. Currently, enterprises are busy with orders at the end of the year. Dien Quang Hiep, Chairman of Binh Duong Furniture Association (BIFA), informed that despite of being affected by the Covid-19, many furniture manufacturers in the province are recruiting more workers to ensure export orders would increase again in last months of the year.

According to provincial Department of Industry and Trade, industrial production in the province has gradually recovered in recent months. Namely, the 10-month industrial production index increased by 6.77% over the same period last year, of which 4 key industries all increased. This is an optimistic sign that motivates higher growth after the epidemic.

Many support solutions

In order to creatively and effectively support enterprises, provincial government has set up and implemented a good mechanism of dialogue and consultancy of enterprises to create favorable investment environment, attract investment, and support business development. In particular, provincial leaders directed administrative departments to put more effort into administrative reform, simplify some procedures to serve businesses, and have gained good results. This is for businesses to develop in a favorable environment, also to improve competitiveness of the province.

Recently, provincial leaders had a meeting with business associations and enterprises in the province. At the meeting, representatives of enterprises talked about their difficulties due to the impact of Covid-19. Therefore, the province proposed credit institutions to continue supporting, reschedule debts for enterprises to overcome difficulties, to invest in production and business.

According to representatives of Provincial Department of Planning and Investment, in order for Binh Duong's economy to grow well in the remaining months of 2020, the province proposed many groups of solutions, such as: To implement the second credit support package for enterprises facing bad effects of Covid-19; give training on EVFTA to help enterprises actively seize opportunities, expand markets, boost exports. In addition, the province will implement mechanisms and policies to encourage startups, technological innovation, support enterprises in recovering and expanding manufacture and business activities...

Nguyen Hoang Thao, Chairman of Provincial People's Committee, said that the province's economy is generally recovering and is likely to grow well in the fourth quarter of 2020. In order to stimulate economic recovery under "new normal" conditions, the province is determined to restructure the economy towards the application of technology, encourage enterprises to carry out digital transformation, reduce labor intensive... In the coming time, the authorities continue to have more solutions to support enterprises. At the same time, provincial governments at all levels prepare all conditions of land, infrastructure and human resources to be ready for the flow of foreign investment shifting, focus on multinational corporations owning high, modern, environmentally friendly technologies.

 Reported by Ngoc Thanh - Translated by Ngoc Huynh