Industry eyes proactive transformation

In the first eight months of 2020, industrial production index of the province has increased by 6.47% over the previous term, which is a relatively high growth rate among provinces and cities in the nation. Despite the effects of Covid-19, the processing and inventing industries, statistically, showed an increment of 6.52% year on year. Those industries are vital, holding a share of 98.9% of production value of the province.

Business strategies have been adjusted in various enterprises in a bid to search for markets. In this photo: Production is on-going at Thien Nam Investment and Development JSC

Measures synchronized

According to Provincial Department of Industry and Trade, in August, industrial production activities were proactive despite difficulties. Disease precaution has been concurrent with production and business operations of enterprises, adapting to new situation for maintenance and development. Measures and tasks have been continually promoted in the province to remove obstacles for enterprise production, promoting the disbursement of public investment capital and assuring social security in the face of Covid-19 pandemic.

In the meantime, various measures assisting enterprises, household businesses, and the publich have been implemented to help production and business operations to regain normal paces. In various economic sectors, bright outcomes have been seen. As for garment making, domestic market exploitation has been strongly deployed by enterprises to produce products of masks and medical equipment for local needs. Woodwork industry has regained orders, increasing working shifts and recruitment.

According to Tran Thi Tra, Director of HTC Glove JSC, her company has switched to production of masks and medical equipment to supply to local medical facilities and the public in the occurrence of Covid-19 pandemic. Concurrently, the company has been assisted by provincial authority with non-interest 1-year loans of simple and fast legal approving processes. Thus, the company’s profit has gained 3 times higher year on year.

While long-term deployed producers having wide customer networks have successfully constructed online sales at very early stages, helping them to be on market lead, many other enterprises have been changing their strategies by mobilizing all resources to domestic market to replace exportation. Meanwhile, the acceleration of production and business operations in the time of temporary control of the disease has effectively limit the degration of industrial sectors. Besides, the newly approved EVFTA is a good sign to promote growth of industries benefiting enterprises like garment-making, footware, and electronics.

Good signs

According to an unnamed representative of Provincial Department of Industry and Trade, despite difficulties in importing materials from China from the beginning of the year, the rational balancing of activities have helped to maintain good growth. Accordingly, the industrial production index in August has increased by 9.28 from the previous month and at 12.69% higher than previous term. Of the increment, processing and inventing industries increased by 9.5% from previous month and 13.04% year on year. Accumulatively, in eight months of the year, industrial production index increased by 6.47% year on year.

Some industries had relative high growth index from previous term including printing and record copying (at 9.9%), medicines, chemical medicines and materials (at 13.95%), electronic, computer, and optic products (at 10.79%), and electrical equipment (at 8.05%).

Speculating for the last months of the year, industrial production of garment-making, footware, and woodwork (the strong industries of the province) will still be under great effects of a complex pandemic. However, Ministry of Industry and Trade pointed out the strong points that disease has been well restrained in Vietnam, which should be major locomotion to attract foreign investments into Vietnam after the pandemic is over. Thereon, production and exportation activities would be more strongly promoted for the time to come.

Nguyen Thanh Toan, Director of Provincial Department of Industry and Trade informed that so as to promote industrial production in the last months of the year, the Department would focused on reviews and removal of obstacles for manufacturing sectors and processing and inventing sectors sot that they could elevate their competence and expand their production. The Department has also coordinated with Industrial Parks Authority to make use of their strengths of industrial development.

Reported by Ngoc Thanh – Translated by Vi Bao