Local enterprises take initiative in export market expansion

Since early this year, the acute respiratory disease caused by the novel coronavirus (COVID-19) has affected the operational situation of enterprises in the province. But, they have managed to stablize their production and ensure laborers ‘health.

Export value up 19.2%

The province’s export turnover in February, 2020, was estimated at more than US$2.32billion. Thus, the figure has brought the province’s total export value since early this year to more than VND4.65billion, a year-on-year increase of 19.2%. As of now, most of the province’s main export industries have got orders till April. Some enterprises, namely Binh Duong Apparel Joint Stock Co., Tuong Long Textile Co.Ltd., Kim Chung Mechanism Co…, have inked orders with partners till December.

Production of Hiep Long Co.

For woodwork industry, many enterprises have got orders till Q2, 2020. The industry’s export value in the first two months of the year was estimated at US$548.5million, up 16.4% compared to the same period last year. Meanwhile, the province’s garment-textile sector secured US$462.6million in export turnover during the period, up 7.2% against the same period last year. The province’s footwear sector also reached US$462.6million in export value, up 7.2% against the same corresponding last year.

Huynh Quang Thanh, Director of Hiep Long Co.in Thuan An city said that domestic furniture enterprises have still had opportunities for development in the export furniture market of the world, especially the U.S and Europe. But, they need to have a good understanding of the two markets for good penetration.

Also according to him, many furniture enterprises have focused on improving equipment, machinery and coordinating with partners to enhance the quality of products. Noticeably, province-based furniture enterprises have attached special importance to building trademarks, designing product patterns in order to bring about higher export value.

Actively seeking new markets

According to Dao Minh Ngoc, Director of Phuong Vy Co.in Thuan An city, 2020 is the year with great opportunities for enterprises to expand their markets. For better development, the sector of precision mechanics needs to have close cooperation with native partners.

In fact, the sector of apparel and textile is also facing obstacles in terms of workforce and investment capital for new technologies. Whilst, according to Nguyen Quang Vu, Chairman of provincial Leather, Footwear and Handbag Association said that applying sci-tech advancements from the fourth industrial revolution has not only helped enterprises generate good products, but also replaced labor power due to automation.

Nguyen Thanh Ha, Deputy Director of provincial Department of Industry and Trade (DoIT) said that enterprises will encounter the shortage of materials for production amid the complicated development of Covid-19. Hence, they need to seek new markets supplying materials in order to ensure their yearly plan on export growth. Provincial DoIT will also make efforts in working with relevant agencies to advocate trade activities among enterprises, industrial production facilities, contributing to raising competitiveness for some main industrial products of the province.

Reported by Tieu My-Translated by K.T