Production acceleration among enterprises backed for year-end

To overcome obstacles, in addition to making the most of the push from policies, businesses have to flexibly regulate their strategies in the direction of proactive innovation, improvishing approaches to markets, products, services, cost reduction, and increased risk management capacity to maintain sustainable operations.

Production activities are on-going at Shun Xing Vietnam Plastic Co. Ltd. in An Dien commune of Ben Cat town

According to the assessment of the Department of Industry and Trade, industrial production in the first 9 months of 2023 took place in the context of high and prolonged inflation in many countries around the world, which had made sharp increases in input material prices, gasoline prices, and increased demands. The market tends to recover but is not yet stable. Nguyen Thanh Toan, Director of the Department of Industry and Trade, said that to help businesses overcome such problems, the provincial authority has directed all levels and branches to synchronously implement a good range of solutions, especially tax policies to increase the ability to access to credit capital resources with focus on production and business sectors. Along with that, all levels and sectors should enhance the effectiveness of administrative procedure reforms and organize many trade promotion activities to expand markets.

In addition, the provincial authority has also drastically directed to promote the disbursement of public investment capital to create more motivation for economic growth while creating markets for the mechanical, steel, and construction materials industries, deploy effective solutions to find markets for manufacturing and processing industrial products, thereby freeing up production capacity in the province to further increase growth as the key leading the entire industry.

Fortunately, businesses have made great efforts to boost production and overcome difficulties to complete the 2023 targets. In the first 9 months of 2023, the industrial production index was estimated to increase by 4.2% compared to the same period in 2022 which was 8.65%. The delight was that the processing industry increased by 4.3%. In September 2023 alone, the industrial index increased by 3.8% over the previous month and by 8.7% over the same period, of which the manufacturing and processing industry increased by 3.9% over the month and by 8.9% over the same period.

Vuong Sieu Tin, Vice Chairman of the provincial Ceramics Association, said: "During common setbacks, ceramic association members strive to produce and research many products to be flexible with the markets and with workers to maintain production and stabilize life."

According to Huynh Tran Phi Long, Chairman of the provincial Young Entrepreneurs Association, the association will actively share experience from previous businesses and experts to support member businesses to better manage and operate in more favorable conditions for young businesses to exchange and promote business cooperation.

Recently, the provincial People's Committee has decided to adjust the project to support creative small and medium-sized enterprises, including technical support activities, intellectual property consulting, and intellectual property development, technology support and in-depth training. The province and associations will organize commercial activities to connect startup networks of young businesses. Notably, in trade promotion activities and connecting creative start-up networks, the province will support the costs of renting location, designing and setting up booths, transporting display products, and travel expenses, food and accommodation costs for participating business representatives.

Reported by Tieu My – Translated by Vi Bao