Enterprise in Phu Tho aims for a breakthrough.

Despite various “turbulences”, the business community has made significant contributions to the province’s socioeconomic progress in recent years. It is projected that there will still be many obstacles and hurdles in 2024, but Phu Tho’s business community remains bold and confirms its attitude of trying to reach new goals. Phu Tho Province promises to continuing to accompany, share, listen, and support enterprises in leveraging the province’s potential and capabilities, considering business growth as provincial development.

TaKao Granite Joint Stock Company produces ceramic tiles for both the local and overseas markets.

After the Lunar New Year vacations in Giap Thin 2024, the officials and staff of Hanoi-Hong Ha Beer Joint Stock Company, Van Phu ward, Viet Tri city, were working with the first spring production shift.

Mr. Le Van Tinh, the Company’s Director, stated excitedly: "In 2023, despite many obstacles, the Company continues to try to successfully accomplish all duties, from production - business, implementation commitments to the state budget, employment creation, and social security activities.

Specifically, in 2023, the Company’s beer consumption of all sorts will reach over 24 million liters, exceeding 10% of the goal and rising by 13.8% from 2022. Revenue reached about VND175 billion, exceeding 10% of the target and up 16% from 2022. Pre-tax profit exceeded the target by 48%, with more than VND134 billion paid to the state budget, surpassing 10%. The average monthly salary per individual is more over VND11 million.

In 2024, to achieve a growth target of more than 10% over 2023, the Company continues to be flexible and creative in management and administration, and steadfast in the motto of focusing on consumers; at the same time, constantly innovate and apply advanced technology to meet the market’s high quality and diversity requirements."

In 2023, officers and employees of Seshin Vietnam Co., Ltd., Thuy Van Industrial Park, Viet Tri City, have endured a year of hardship as the textile business faces unprecedented challenges. However, more than 2,200 Company employees began generating the first orders following the 2024 Lunar New Year holiday, motivated by a spirit of hard work and a commitment to meet and exceed the production timetable set by the Company’s Board of Directors.

Mr. Baek Jung Hyun, General Director of the Company, stated: "The Company’s orders have surged since the fourth quarter of 2023. Furthermore, according to market estimates by prominent industry analysts, 2024 will be a year of recovery for Vietnam’s textile and apparel industries. These are favorable signals for the new year. With the objective of retaining 2,200 people, the company continues to strengthen customer ties with current partners, focusing on consumer partners of exporting fashion clothing items in overseas markets."

Operating in the sphere of building material manufacturing presents several obstacles and challenges. Takao Granite Joint Stock Company, Thanh Uyen commune, Tam Nong district has been in operation for more than three years. The primary products are ceramic and glazed tiles, which have established a foundation and presence in the sector.

Mr. Tran Ngoc Hung, Chairman of the Board of Directors of the Company, stated: "In order for the product to suit consumer tastes, we have researched, applied, and operated a modern production line with a variety of colors and patterns code; in particular, choosing environmentally friendly materials to produce safe products has met maximum requirements as well as in accordance with user trends, and is recognized by distributors, partners, and customers as highly rated and trusted products.

The construction materials industry will face many difficulties in 2023, but the Company will continue to produce nearly 15 million m2 of products, with revenue reaching nearly VND1,600 billion. The consumption market is relatively stable both domestically and for export, creating jobs for over 1,000 workers with an average monthly income of more than VND8 million.

In 2024, the company will extend its manufacturing line, aiming for a capacity of 20 million m2 of products; revenue reached VND2,000 billion. The good news is that the Company has had consistent domestic and export orders since the beginning of the spring."

According to the Provincial Statistics Department, the industrial production index increased by 26.85% in the first two months of 2024 compared to the same period last year. The processing and manufacturing industry increased by 27.55%, the production and distribution of electricity, gas, hot water, steam, and air conditioning increased by 15.51%, the water supply industry, and management activities, waste and wastewater treatment increased by 13.97%.

The entire export value of products in the first two months of the year is anticipated to be more than USD1.8 billion, a 43.7% increase over the same time.

The prosperity that has existed since the beginning of the year, combined with the excited spirit and emulation efforts to boost enterprise production and business, leads to the belief that the Industry and Trade sector will successfully implement the goal in 2024, contributing to the province’s successful implementation of its mission-proposed socioeconomic development services.

YIDA Vietnam Company Limited, located in Song Thao Town Industrial Cluster, Cam Khe District, manufactures export-ready clothes.

The year 2023 has been particularly challenging for the business community. Businesses that have recently recovered from the COVID-19 pandemic must now deal with the global economic downturn, escalating war situations in some regions, shrinking markets, and broken supply chains, as well as cash flow imbalances and difficulty obtaining preferential loans... Leaders of the Provincial People’s Committee, as well as departments and branches, have devised realistic, specific measures to help enterprises and foster an atmosphere. Investment and business are welcome and beneficial. Enterprise problems and recommendations are addressed swiftly and efficiently by departments and branches. The Provincial Public Administration Service Center is constantly improving the level of service it provides to businesses.

2024 is a pivotal year in the effective implementation of the 5-year socioeconomic development plan for 2021-2025. Businesses around the province have been eager to start up since the first days of the new year of Giap Thin 2024, making efforts to speed up and aspire for a breakthrough and substantial growth.

However, 2017 is still expected to be a challenging year for the business community as a result of the global economic slowdown. Many firms in the province have nevertheless had their orders reduced, resulting in a smaller manufacturing scale and less manpower. Despite going through terrible times, the business community and economic experts believe Phu Tho is still a place with immense potential for growth. Enterprises proactively capitalize on opportunities created by investment transportation infrastructure; promote digital transformation; and equip human resources for breakthroughs.

On the occasion of visiting and encouraging manufacturing enterprises at the start of Giap Thin 2024, comrade Nguyen Thanh Hai - Member of the Provincial Party Standing Committee, Vice Chairman of the Provincial People’s Committee, stated: "Phu Tho province is committed to creating the most favorable conditions for production and business activities, as well as enterprise development. Leaders from the province, departments, branches, and localities always accompany and share with enterprises in all situations and circumstances, providing tasks and solutions with very precise and clear work assignments. In 2024 and subsequent years, the province will increase exchanges and dialogues in a variety of formats in order to quickly grasp the legitimate needs of businesses, as well as to quickly remove difficulties and obstacles for businesses in all conditions and circumstances, in accordance with legal provisions, so that businesses can feel secure in investing in production and business, developing and expanding in the province. Enterprises must proactively grab chances, with state backing, to increase competitiveness in an interconnected and evolved environment; define "change for development and breakthrough. The business community collaborates with local authorities to foster a sense of solidarity and self-reliance; proactively design strategies and plans for production and business growth of companies aligned with the province’s socioeconomic development objectives and orientations."

Trinh Ha