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Provincial People's Committee assessed that economic activities are vibrant again, with positive results in many fields. The "picture" of enterprises ‘production and business is gradually getting brighter, promising to contribute to the local economic growth in the coming time. Accompanying enterprises, besides effectively implementing policies, the province is continuing removing obstacles to further facilitate the business community to recover and develop.

Many positive results

According to provincial Department of Planning and Investment (DoPI), from August 16 to 31, 2022, the province attracted 291 newly-registered enterprises, with total capital of more than VND 1.73 trillion and 73 enterprises increasing capital by more than VND 1.15 trillion. During the period, the number of newly established enterprises increased by 809.4%, with registered capital increasing by 875.4% over the same period. The number of enterprises registering to increase capital grew by 508.3 %, with increase in capital by 40% over the same period. Over the past 8 months, the province attracted 4,627 newly-registered enterprises, an increase of 23.1% over the same period, with total capital of more than VND 29.76 trillion, up 7.4% and 1,104 enterprises with capital adjustment, up 44.9% over the same period, with adjusted capital of more than VND 39.64trillion, up 4.2%.

Production activities at Hung Hai Thinh Joint Stock Company in Phu Giao district

According to Trinh Hoang Tuan Anh, Deputy Director of provincial DoPI, the number of newly established enterprises, those resuming operation has increased significantly, showing that enterprises have recovered positively, but the number of enterprises dissolved is still high. Many shortcomings have not been improved yet when the majority of enterprises are micro, small and medium sized ones. The province's support for domestic enterprises is demonstrated through many practical activities. In early August, provincial leaders directly met with associations and domestic enterprises to solve their problems after the Covid-19 pandemic. Recently, the province has continued supporting small and medium-sized enterprises in digital transformation through instructions in line with the model of each enterprise...

Standing side by side with enterprises

Possibly seeing, the recovery of enterprises ‘production-business activities in the province is taking place clearly. However, the requirement is still to actively support, stand shoulder to shoulder with enterprises in a more effective and practical way.

Binh Duong has focused on implementing tasks and solutions for socio-economic recovery and development in the spirit of the Prime Minister’s Resolution No. 01/NQ-CP dated January 8, 2022 and Resolution No. 11/NQ-CP dated January 30, 2022. Along with that, provincial leaders have directed all-level authorities and sectors to regularly monitor and closely follow the production and business situation of enterprises for timely support; support enterprises to access the Government's support policy packages on the exemption, reduction, extension of taxes, land rental fees, access to loans, interest rate reduction…to create a stable and favorable environment for enterprises to feel secure to invest in production and business. In addition, province-based enterprises have been proactive to transform models, change strategies and respond flexibly; boldly made digital transformation, quickly stabilize production and business activities, sign orders, expand domestic and export goods consumption markets.

The top concerns of enterprises at present are to access low-interest capital; get support on social insurance policies to retain employees; rent land for factories with reasonable areas and prices to develop production and business activities...The associations also reflected that over the past time, the increase of petrol prices led to an increase in the prices of all commodities. This has greatly affected the production and export of enterprises. Meanwhile, it is difficult for enterprises to get loans from banks to maintain production.

Nguyen Liem, Chairman of Binh Duong Furniture Association wanted that the Government and the province will have support policies to reduce bank interest rates, debt rescheduling…for enterprises. In addition, there are solutions to stabilize the prices of raw materials and freight to help enterprises stabilize production. Recently, the prices of production materials and transportation charges have increased sharply, leading to the situation that many factories have had to reduce production and cut laborers. The proportion of orders to key export markets, namely the US and Europe has also decreased significantly. Meanwhile, enterprises have still found it difficult to access capital from banks.

In fact, there are still support policies for enterprises that have been issued, but have been slow to implement. Provincial leaders have requested all-level authorities and sectors to more quickly implement support policies for enterprises to recover and develop; strongly improve the investment climate, helping enterprises promptly seize opportunities and expand the market. Vo Van Minh, Chairman of provincial People's Committee said that the support is only considered as success when enterprises benefit from direct and specific policies. In contrast, policies that are built, but difficult to implement, do not have a good impact on enterprises and can also cause the loss of trust among them. In order to promptly encourage the spirit of enterprises, the local all-level authorities and sectors need to regularly dialogue with enterprises to promote more effective implementation of support policies.

Reported by Ngoc Thanh-Translated by Kim Tin