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In the first 2 months of the year, the province's industrial production, especially continued recovering and growing again, especially processing and manufacturing industry. As of now, it can be seen that the province's economy has shown many positive signals, gradually recovering. Many enterprises are accelerating their production and business progress, actively contributing to the local growth target.

Production getting stable again

In the first months of 2022, although there are still many difficulties, the province’s industrial production is recovering and maintaining a good growth rate. Province-based business community and industrial production establishments have continued being proactive, upholding the spirit of overcoming difficulties, making efforts to flexibly adapt to the situation and maintain production. They have also begun approaching support policies, making efforts to restore production and expand consumption markets, so the province’s industrial production has gradually recovered and developed.

Province-based enterprises have accelerated production, recovery and growth. In picture: Production activities at Thien Nam Investment Joint Stock Company in Di An city

According to Bui Minh Tri, Head of provincial Industrial Parks’Management Board, thanks to Covid-19 pandemic being controlled early, all sectors of the local economy are entering a state of normal operation again. The province’s industrial production has got thriving and grudually regained growth since late 2021. Although the pandemic is still complicated, province-based enterprises have actively made plans, taking advantage of opportunities to promote production and business activities in the new situation right after the province has returned to a state of "safe, flexible adaptation, effective control of Covid-19 pandemic". Up to now, enterprises in the local industrial parks have maintained stable production and business while ensuing the health of workers.

In 2021, although being afftected by the pandemic, Dong A Corrugated Iron Company still reached more than VND25.2 trillion in total revenue (or 157% of the plan). The company’s after-tax profit was more than VND1.2trillion, 4 times higher than the same period. Ho Song Ngoc, Director of Dong A Corrugated Iron Company said that in order to have these impressive export results, the company has made good use of the opportunity, flexibly converting from the domestic market to the export one, helping its export output for the whole year increase by 136% over the same period. Currently, in addition to 2 factories in Binh Duong, the company will invest in a third factory project with the phase 1 of US$120 million with the annual capacity of 350,000 tons and the factory is expected to reach 1.2 million tons per year after its 3 stages are completed at the development of the company.

Expectation to achieve growth target

As of now, most enterprises in province-based industrial parks and compounds have abundant orders. Their export markets have shown signs of growth again. Most exporter have resumed operation with 80% - 90% capacity.

Nguyen Liem, Chairman of Binh Duong Furniture Association (BIFA) said that province-based wood enterprises have basically adapted to the new situation and adjusted their production and business plans to open more markets for domestic consumption as well as for export. The picture of wood industry has had more bright spots when the number of enterprises on recovery has increased quickly. The export index was also quite high in January 2022. Many enterprises have increased sales transactions by e-commerce to increase export orders in the new year. In 2022, the province’s wood industry is forecasted to achieve export sales exceeding US$15.6 billion.

Assessing prospects for 2022, many enterprises believe that with the motto of flexible and safe adaption for economic development, along with support from all-level authorities, sectors and localities, enterprises will continue maintaining production, accelerate and soon regain growth momentum in the near future. According to Ly Ngoc Minh, CEO of Minh Long 1 Ceramics Company, in order to adapt and develop in 2022, enterprises need to set up a development strategy suitable to the new situation and accelerate technologial improvement, digital transformation, business model renewal, restructuring and application of sci-tech application into production and business process.

Nguyen Thanh Toan, Director of provincial Department of Industry and Trade (DoIT) said that in order to promote industrial production in 2022, provincial DoIT is focusing on reviewing and promptly removing difficulties for projects on  industrial manufacture,  especially processing and manufacturing industry, aiming to improve production capacity and expand the scale of production and business. Provincial DoIT  will coordinate with a number of FDI enterprises to strengthen the task of searching domestic manufacturers of raw materials with capableness in order to replace imported sources in the short and long term.

In 2022, along with actively regaining the growth momentum of industries and fields deeply affected by the pandemic, Binh Duong will further promote industrial manufucture to become a motivation for growth. The province will strive to increase the index of industrial production (IIP) by by 8.9%. This goal is not a small amid the complicated development of Covid-19 pandemic. To accomplish the set goals, provincial DoIT is focusing on implementing effective policies and solutions to support industrial enterprises to overcome difficulties, stabilize and restore production, creating an open investment climate...

Reported by Ngoc Thanh-Translated by Kim Tin