Measures launched to seek out growth potentials

From the end of the second quarter of 2023, the economy has begun to show more positive signals, but with the low growth rate of the first half of the year, it requires a lot of efforts of all levels, sectors, the business community to find room for growth based on highly viable areas.

Enterprises strive to produce to achieve the growth target in 2023. In the photo: Production line at CICOR Vietnam Co. Ltd. in VSIP 1

Great pressure

According to the assessment of the Provincial People's Committee, at the beginning of the third quarter of 2023, the socio-economic situation has had positive changes. Industrial production index in July 2023 was estimated to increase by 2.3% compared to the previous month and 8.3% over the same period in 2022; total retail sales of consumer goods and services increased by 3% compared to the same period in 2022. Compared with the previous month and increased by 16% over the same period, the average consumer price index of 7 months increased by 3.2% over the same period.

Along with that, export turnover in July was estimated to increase by 17.6% over the previous month and 8.7% over the same period last year; import turnover was estimated to increase by 18.7% over the previous month and by 5.2% compared with the same period. However, production and business activities of enterprises are still in very problematic situations. Export turnover in 7 months decreased by 16.5%, and import decreased by 13.8% over the same period.

Le Manh Ha, Managing Director of TBS Logictics, said that up to now, the volume of goods through the inland port has decreased by about 20% compared to the previous year. According to Le Manh Ha, in the context of enterprises' difficulties and the decline of world aggregate demand, maintaining the current level of goods circulation has also been a great effort, more encouraging than recently there have been signs of improvement.

The production and business situation of enterprises in the area continues to face difficulties such as the shrinking product consumption market, the lack of capital to maintain production. Loan interest rates are now gradually decreasing, but access to capital is facing stagnation. Huynh Tran Phi Long, Chairman of the provincial Young Entrepreneurs Association, raised his question: "In the current economic conditions, how have the sectors advised and proposed policies and programs to support preferential interest rates or capital sources for disadvantaged people, including small and medium enterprises, individual business households?”

In fact, with a highly open economy like Vietnam, it is impossible to avoid negative external impacts. Surveys at many businesses show that the difficulties are not only in any field but also in the whole chain. Currently, businesses are promoting linkages and investment promotion to get more purchase orders. In particular, businesses focus on exploiting markets where Vietnam has signed free trade agreements and are looking for new markets. Bui Nhu Viet, Director of Long Viet Furniture Joint Stock Company in Di An city shared, for business owners, the first priority is to maintain production. In the context of drawbacks, businesses must find ways to adapt, otherwise it will be very difficult for them to survive.

Companion with maximum support

Lai Xuan Dat, Deputy Director of the Department of Planning and Investment, said that in order to support businesses to recover and develop, in the past time, the provincial People's Committee has implemented solutions on infrastructure investment and reforming procedures. In addition, Binh Duong has built and well implemented a dialogue mechanism, always accompanies and strengthens support for enterprises in production and business activities while considering the difficulties of enterprises as difficulties of the provincial authority.

Through the Department of Planning and Investment, the provincial People's Committee has received more than 170 complaints and recommendations from businesses. For complaints and recommendations under its authority, the provincial People's Committee has directed the Department of Planning and Investment to coordinate with agencies to resolve and send documents to enterprises. The People's Committee is synthesizing the contents that are not under its authority to propose to the Central Government, relevant ministries and branches to find a solution.

The provincial People's Committee has directed functional branches to effectively deploy mechanisms and policies to support businesses in the area with focus on reforming administrative procedures, simplifying and completing procedures related to enterprises, minimizing application processing time, supporting enterprises to submit online documents and procedures, and returning the results of administrative procedures by post. Along with that, units need to step up the application of information technology, enhance the application of online public services, and promote the improvement of the investment, production and business environment.

Reported by Tieu My – Cam Tu – Translated by Vi Bao

• Banks intensify customer assistance setting up biological authentication (04/07)
• EuroCham confident in Vietnam's stable economic development (04/07)
• Vietnam’s int'l aviation market rebound (04/07)
• Removing difficulties in loan for social housing buyers (04/07)
• Creating the best conditions for Becamex IDC to develop (03/07)
• Novel impetus for investment attraction created (03/07)
• Binh Duong has 38 communes meeting advanced new rural standards (03/07)
• Participation in fairs and exhibitions: More opportunities to promote Vietnamese products (03/07)