Maintain the momentum of progress in the coming year

The end of the year is seen as a “golden” chance for enterprises to raise products consumption and seek orders for the coming year. Businesses in the province are increasing output at this time in order to complete and surpass their production and business plans, laying the groundwork for a prosperous new year.

JNTC Co., Ltd., Thuy Van IP is a 100% Korean-owned company that manufactures tempered glass and optical glass for mobile phones and display devices.

From the start of the year to the present, the province“s industrial output has been fairly busy, with many new projects and the revival of a number of significant manufacturing industries, serving local and export demands. The industrial output index in the province is expected to rise 12.4% in 2022 compared to the same time in 2021. In which the processing and manufacturing industries continue to play a vital role, the industrial sector created the most added value (accounting for 93% of the industry”s percentage), while maintaining a strong growth rate, estimated at 12.7% during the same time. There were 10/17 industries that added additional capacity, a significant increase over the same time last year.

Aside from rising orders from partners, a favorable trend for companies in the province today is a transition in production from low-value-added stages to self-supply sourcing raw materials to manufacture orders, using technology to production, and producing greater added value.

In general, the production condition of industrial production firms remained constant, as evidenced by the increase of key indicators of industrial parks (IPs) and industrial clusters. There are now around 175 registered firms for production and business. In 2022, company income is expected to be VND52,000 billion, or 100% of the year plan; total export value is expected to be more than USD10.2 billion, or 165% of the plan.

At the end of the year, Raindrop Vietnam Fashion Co., Ltd., Cam Khe IP employees mimic labor, production, and speed up orders.

According to Mr. Nguyen Ngoc Hanh, Head of the Management Board of Provincial IPs, the Management Board strengthens innovation in investment promotion methods, diversifying in many forms, and giving priority to attracting production and business projects that are environmentally friendly, high-tech, large-scale projects capable of contributing significantly to the budget and appropriate to the nature of each IP. Continue to work with all levels and sectors to quickly resolve issues, strengthen the business investment climate, and make it easier for businesses to invest in industrial growth in the province.

CMC Joint Stock Company (Thuy Van IP) specialized in tile manufacture, employing approximately 1,000 people.

Production and commercial activity are expected to rebound by 2023, although obstacles remain owing to severe volatility in gasoline prices, rising input prices, and dwindling import and export markets. Despite the obstacles and hurdles, there are numerous encouraging signs for the industry"s growth. That is, the COVID-19 outbreak is mostly under control, the macroeconomy is steady, the key economic balances are secure, and new companies and production projects are nearing completion and implementation. In addition to assisting investors, the province is ordering relevant units to expedite the execution of authorized industrial projects so that they can be placed into effective production as soon as possible.

In recent days, practically all firms and production facilities in general, as well as IPs and ICs in particular, are engaged in a fierce competition for workers. We think that with the drive and determination to proactively overcome hurdles and conquer the market, the province“s industrial output in 2023 will retain stability and accelerate production, contributing to the association”s socioeconomic growth in general.

Nguyen Hue