The picture of Binh Duong’s export of goods in the first 4 months of 2022 with very positive results. Good export growth proves that Binh Duong’s implementation of solutions and plans to recover and develop production and business is effective, along with the efforts to overcome difficulties of the business community (DN) located in the area.
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Car tire production at Hung Hai Thinh Joint Stock Company (Tam Lap commune, Phu Giao district).
Trade surplus of 3.9 billion USD
2022 is considered a very difficult year for the economy in general and import-export activities in particular due to the negative impacts of the Covid-19 pandemic. The disruption of the supply chain due to geopolitical issues also causes many disadvantages for goods export activities. However, Binh Duong’s exports still achieved impressive growth results.
According to the report of Binh Duong Provincial People’s Committee, in the first 4 months of the year, the province’s socio-economic situation achieved many important results. Industrial production index and import-export turnover were very positive. The province always pays attention to monitoring the situation of enterprises and labor, removing difficulties for production and business, creating the most favorable conditions for enterprises to seize opportunities for development. Immediately after the epidemic was controlled, enterprises exporting goods quickly took the lead and made the most of the opportunities. From October 2021 to now, exports have continuously increased sharply, with each month much higher than the previous month.
In April 2022, export turnover is estimated at 3.52 billion USD, up 4.5% over the previous month, up 22.7% over the same period in 2021. Of which, the domestic economic sector reached 669 million USD, up 3.8% over the previous month and up 19.8% over the same period; the foreign-invested economic sector 2.85 billion USD, up 4.7% over the previous month and up 23.4% over the same period. In the first 4 months of 2022, the province’s export turnover is estimated at 12.46 billion USD, up 11.9% over the same period. Of which, the domestic economic sector 2.31 billion USD, up 11.4%; the foreign-invested economic sector 10 billion USD, up 12% over the same period. Maintain a trade surplus of 3.9 billion USD.
The dynamism of local authorities has helped many businesses maintain their position in the export “achievements table” despite difficulties caused by the COVID-19 pandemic. Mr. Pham Minh Ha, Director of the Tire Manufacturing Factory – Hung Hai Thinh Joint Stock Company (Phu Giao district), said: “We are truly grateful for the support of local authorities and sectors in the province to help the company resume operations, revive production and export in 2022. In the first 4 months of the year, the company’s production has stabilized and continued to develop according to plan. We have had plans to adapt to the labor shortage by improving labor management, making efforts to maintain the US market with advantageous products. Growth is expected to reach 10% compared to 2021,” Mr. Ha expressed his confidence.
Towards sustainable exports
Based on the existing foundations and the continuous efforts of the government and the business community, the structure of export goods continues to shift in a positive direction, with the group of processed industrial goods increasing. In April, the manufacturing and processing industry increased by 7.33% compared to the previous month and increased by 11.32% compared to the same period last year, with an accumulated increase of 7.55% in the first 4 months of the year.
However, economic experts say that Binh Duong needs to clearly recognize that the large proportion of export contributions is from foreign-invested enterprises (FDI), which are potentially risky and have many unsustainable factors. In fact, the FDI enterprise sector has also contributed to changing the structure of export goods in the direction of reducing the proportion of mining products and gradually increasing the proportion of manufactured goods. Notably, FDI sector products account for an almost absolute proportion, such as phones, computers and components.
According to Mr. Nguyen Thanh Toan, Director of the Department of Industry and Trade, regarding the sustainability of import and export, there are two main directions that the province is very interested in and the Department of Industry and Trade has been making efforts in recent times: increasing the spread of FDI enterprises and improving the competitiveness of domestic enterprises. Specifically, Binh Duong has discussed and encouraged FDI enterprises to increase the localization rate through domestic suppliers; transfer technology and modern management skills to domestic enterprises through joint venture and association projects in a number of important industries and fields.
Regarding the enhancement of the competitiveness of domestic enterprises, Binh Duong province assigned the industry and trade sector to focus on removing difficulties, supporting exports, and promoting trade for agricultural, forestry and fishery products, which are the sectors where domestic enterprises account for the majority. In recent times, the industry and trade sector has focused on disseminating and guiding domestic enterprises, especially small and medium enterprises, about opportunities from free trade agreements (FTAs), how to take advantage of opportunities to increase exports, and focusing on training on market development and trade promotion for human resources of the domestic enterprise sector.
According to Ms. Trinh Thi Hong Chau, Vice President of Binh Duong Electromechanical Association, in the context of the epidemic, with interrupted supply sources from abroad, FDI enterprises are also looking for input suppliers in Vietnam. This is a great opportunity for domestic enterprises, but it is also a problem of competition in terms of price, technology and quality. To participate in the supply of inputs, domestic enterprises must invest and offer competitive products. Currently, there are hundreds of enterprises becoming supporting enterprises, supplying raw materials for FDI enterprises. Domestic enterprises supply consumer electronics products, electronic assembly services, electronic circuit boards, rubber and plastic products, supporting products in industries…
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