Foreign Direct Investment (FDI) enterprises accelerate their production from the beginning of the year

According to the Provincial Statistics Office survey results, in the first quarter of 2024, 70.77% of enterprises expect the number of new export orders to increase and remain stable. As a result, since the beginning of the year, enterprises in the province, particularly FDI enterprises, have accelerated production and business with the determination to meet the established goals and plans.

Sunrise Industrial Vietnam Co., Ltd., Cam Khe Industrial Park officially began operations in February 2022, with the primary industry being export garments. Currently, the company has 1,890 employees with an income of 6.8 - 7.6 million VND per month. In 2023, the Company’s output reached 18-20 million products. To achieve the 2024 goal, the company has encouraged and encouraged employees, as well as launched emulation movements for production labor, since the beginning of the year. The company has also invested in and expanded export markets, promoted marketing and brand promotion, built cadre and employee capacity, and kept implementing policies that ensure employee benefits, employment, and income.

Gu YanZhong, the Company's Director, stated that policies and regimes such as employee wages and bonuses are of concern. During the Lunar New Year 2024, the Company will reward all employees with a 13^th salary to encourage them to commit to the enterprise.

2023 has just marked a challenging period with many economic and political fluctuations around the world, but enterprises producing electronic, computer, and optical products still maintain a high growth position. In December 2023 alone, this sector increased by 52.67% over the same period last year, contributing significantly to the province’s industry continuing to be the backbone of the entire economy, with an increase of 10.2%5 over the same period last year.

Future Innovation Co., Ltd., a subsidiary of the Hong Kong Electronics Group, began officially operating the first factory in Phu Ha Industrial Park, Phu Tho town, in November 2021, producing Bluetooth wireless headphones and other audio and electronic equipment for Apple Corporation. In less than 6 months, by March 2022, the company decided to lease additional land in Phu Ha Industrial Park to build the second factory, creating jobs for approximately 3,000 people with an average monthly income of 9-10 million VND.

According to a company representative, the third factory will have operated by April 2024, with the addition of approximately 3,000 new employees. In 2024, enterprises will focus on developing technology and digital management solutions to meet the demands of fast delivery and consistent quality, as well as training resources to meet the electronics industry’s development trend.

According to the Provincial Statistics Office survey results, the trend of orders in the first quarter of 2024 compared to the fourth quarter of 2023 was as follows: 73.91% of enterprises forecasted an increase in orders and kept it stable, while 70.77% forecasted an increase in new export orders and kept it stable. As a result, enterprises have been speeding up since the beginning of the year to “catch the wave” and complete orders for partners.

Thanh Tra