Province-based domestic enterprises work stably

With their own efforts, many domestic enterprises in Binh Duong reached a stable growth in the first half of 2014. This has helped them be confident to fulfill their production and business plans in 2014 and reach a good competition in the coming time.

Working effectively

Sang Ban Mai Joint Stock Company is a domestic enterprise specialized in manufacturing electric generators with capacity from 10KVA and 2,500KVA. With the localization rate of 40% plus reasonable price, the company’s products have reached a good competition in both domestic and foreign markets.  

Furniture products being processing at Minh Phuong Export Furniture in Tan Uyen town

Tran Thanh Trong, General Director of the company said that the company has so far fulfilled 100% of 2014’s production and business plan. It is expected that till year-end, the company’s production and business result will exceed 50% of the year’s plan. Along with its export market in Malaysia, the company has supplied electric generators with big capacity for domestic large-scale works.

In terms of woodwork processing, Do Thi Kim Loan, Director of Sao Nam Trading and Production Co.Ltd. said that the company’s woodwork export in the first half of 2014 reached a positive result with total turnover increasing by 10%-15%. With the current growth, the company will surpass the year’s plan.

Meanwhile, Minh Dung Veterinary-Aquaculture Medicine Co.Ltd. in the first half of the year reached a growth of 10%. Together with its growth in the domestic market, the company successfully exported its products into many countries, including India, Malaysia, Thailand, Oman…, with a total export turnover of more than US$1.5mln. Vu Thi Ngoc Trinh, CEO of the company said that the company’s export turnover in 2014 would be 50% higher than that of 2013.

Province-based domestic companies in the fields of pottery, footwear, garment & textile…, namely Minh Long, Phuoc Du Long, Phuong Hanh, Thai Binh….also worked very stably, especially gained a growth in export during the period. Many have reached orders for the whole year from their parners, so it is expected that their production will surge by 20% compared to the year’s plan.

Good preparation for investment opportunities

The effective operation of province-based domestic enterprises over the past time showed that their competitive ability has got better and better. One of favorable elements leading to the evolution is that there is a stability in workforce and imported materials’price. The gradual recovery of main export markets like U.S, EU, Japan, Asia, Africa...together with the positive impacts from negotiation of the Trans-Pacific Stragetic Economic Parnership Agreement (TPP) has also created a motivation for parners from U.S, Japan, Canada, Australia…to bravely sign more contracts with Vietnam’s ensterprises, especially with ones in the fields of garment & textile, footwear, woodwork, pottery…

According to Nguyen Thoi Hoa Binh, the owner of a woodwork enterprise in Tan Uyen town, joining the TPP will create opportinites for Vietnam’s investment, exports, and international integration process. But, the TPP is likely to create challenges for Vietnam. Hence, enterprises need to have a good preparation of technology, capital, labor productivity…to be able to adapt to competitive pressure because after Vietnam joins the TPP there will no longer be any tariff barriers.

Whilst, to Nguyen Thanh Phong, CEO of Oseven Vietnam Joint Stock Company-a munufacturer and provider of wood paints, the TPP is a great opportunity for enterprises. Since its reception, the company is always ready for a competitiveness. With many advantages on market share, workforce plus a sustainable development strategy, the company does not flinch from competitive pressure.

Reported by T.Minh-Translated by K.T

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