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2024 is a year of acceleration and breakthrough, of particular importance in successfully implementing the socio-economic development plan for the period of 2021-2025. Therefore, since early 2024, enterprises in the province have focused on production, trying to complete the set goals.

Setting up short-term plans

According to statistics from provincial Department of Industry and Trade, in 2023, Binh Duong's main export products on footwear, machinery, equipment, textile and garment, wood... decreased by 7% - 30%. Some businesses encountered difficulties. Workers had to temporarily take a break or had working hours reduced and even some businesses in the wood industry had to stop operating. That poses challenges for businesses to return to production and accelerate development.

Production activities at CICOR Vietnam Co., Ltd. In VSIP I

According to Nguyen Liem, Chairman of Binh Duong Furniture Association, although wood enterprises in the province reached slight growth in the last months of 2023, their recovery did not have the same as previous years. That has put pressure on businesses to make more efforts in finding orders, expanding markets and proactively building scenarios with market fluctuations, labor, exchange rates, interest rates... to respond promptly. Based on the production plan set for 2024, many businesses have restructured production under market needs, setting up production plans for each short cycle to have flexible adaptation measures.

Nguyen Thanh Danh, Director of Danh Tung Production-Trading-Services Co.Ltd. in Thuan An city said that in addition to maintaining old partners, the company focuses on promoting the US market, welcoming opportunities to develop new orders. “This return is more difficult as orders are smaller while delivery time is faster and quality factors are set higher. In 2023, the company reduced the amount of orders by 30% compared to previous years. However, the company still strived to overcome difficulties, ensuring jobs for workers and maintaining operations. In early 2024, the amount of orders has increased slightly, but cannot return to the level before the Covid-19 epidemic", Mr. Danh added.

In the FDI sector, orders are more favorable, due to having a fairly solid foundation. However, businesses are also making maximum efforts to bring production back stronger. CICOR is one of the largest electronics manufacturing services companies in Europe and specializes in high-tech products like   medical devices. The company's fourth factory investment in 2023 not only doubled the group's production capacity in Vietnam, but also further developed techniques. As of now, CICOR Vietnam factory has reached world-class production levels, being on par with factories in Switzerland, Germany and the United States.

“CICOR Vietnam supplies products to many prestigious companies in Europe and the United States. A good sign for the new year is that we have negotiated to have orders, producing new products with partners being large corporations in the world. These orders will contribute to stabilizing the company’s production. In 2024, the company aims at increasing export turnover by over 50% compared to 2023", said Nguyen Trong Luat, Director of CICOR Vietnam Co., Ltd. In VSIP I.

Support promoted

According to experts' forecast, in 2024, the domestic economy will continue facing new challenges and difficulties, due to many unpredictable risks. Military conflicts in regions will continue having a negative impact on the global financial market, pushing up input material prices and global logistics prices, greatly affecting the economy and import-export activities of Vietnam.

Nguyen Thanh Binh, Deputy Director of provincial Customs Department said that the customs sector has strengthened post-customs clearance inspection, focusing on key businesses, sectors with high-risk items, especially high-value goods with high tax rates, such as: cars, cosmetics, temporarily imported and re-exported goods... Besides, the sector has focused on promoting administrative reform, post-customs clearance inspection, creating maximum favorable conditions for the business community in import and export activities. Provincial Customs Department has continued improving capacity and fighting effectively in preventing smuggling and trade fraud, contributing to creating a healthy production and business environment.

Nguyen Thanh Toan, Director of provincial Department of Industry and Trade said that in 2024, businesses need to make greater efforts, effectively taking advantage of support from all- level authorities and sectors and proactively linking to create supply chains for commodity circulation;  improve competitiveness and make appropriate investment for sustainable development, with focus on advanced technology and management. The efforts by enterprises and support policies of all-level authorities and sectors will create motivation for businesses to complete their production goals by 2024, contributing to the overall industrial production development of the province.

Reported by Tieu My-Translated by Kim Tin