Supporting businesses to integrate effectively

In the context of increasingly deep economic integration, to support businesses to integrate effectively, the province has focused on improving the investment environment, strengthening support solutions, enhancing competitiveness, and developing brands for industries and businesses.

Producing PE tarpaulins for export at JM Plastics Vietnam Co., Ltd., Dong Lang Industrial Cluster, Phu Ninh District.

Investment promotion activities are regularly implemented, helping to expand and increase the value of foreign investment capital flows. From 2021 to June 2024, the province attracted new and additional capital for over 400 private investment projects and more than 90 foreign direct investment projects. Some production and business sectors in electronics, processing, and manufacturing industries have many innovations, absorbing modern technology, helping to produce effectively, improve the competitiveness of goods, and contribute to exports.

At the same time, the province has implemented solutions to remove difficulties and obstacles to developing raw material sources, helping businesses meet the rules of origin and better take advantage of opportunities brought about by trade agreements. The industry and trade sector has also reviewed and evaluated manufacturing and business enterprises in fields related to free trade agreements, proposed support solutions, and ensured effective integration.

CTH Ceramics Joint Stock Company, Thanh Vinh Ward, Phu Tho Town, specializes in producing ceramic tiles, with a production output of over 6 million m2/year. Mr. Nguyen Duc Truyen, Chairman of the Board of Directors of the Company, said: "With 30% of output serving exports, to directly export products to markets with high standards such as Europe, America... in recent times, the company has continuously improved designs, improved product quality, and built a competitive strategy. The company is consulted by departments and branches and also proactively learns to meet the regulations and rules on origin and trade barriers of each importing country, taking advantage of tariff incentives, creating significant competitiveness.".

With the support of the province, most businesses proactively seek orders, exploit sources of goods, diversify markets, and export products, contributing to increasing the value of import and export turnover. The whole province currently has over 290 enterprises with import and export activities. In the period of 2021-2023, the average export value of the province is over 10 billion USD/year; in the first 9 months of 2024 alone, the export value reached over 11 billion USD, an increase of nearly 50% over the same period last year.

As a “bridge” between enterprises and state management agencies, associations, and business associations, entrepreneurs play a role, thereby grasping and promptly reflecting the difficulties and problems of the business community to find solutions. At the same time, connect members, support each other in production, build corporate culture, improve production capacity, product quality, and meet standards and regulations according to each market segment. Mr. Nguyen Minh Tuan, Vice Chairman of the Provincial Young Entrepreneurs Association, said: “Economic integration encourages enterprises to constantly improve production technology and improve competitiveness to meet higher value stages in the domestic and global supply and distribution chains. The functional sectors of the province accompany enterprises to remove difficulties, promote administrative procedure reform, provide legal advice and support, and promptly implement preferential policies on tax, credit, etc., creating favorable conditions for entrepreneurs and enterprises to develop and integrate.”.

In order for international economic integration in the province to be effective and promote socio-economic development, functional sectors and localities continue to diversify propaganda activities, disseminate information on international economic integration, guide the implementation of free trade agreements, strengthen propaganda on investment activities, the investment environment, and mechanisms and policies related to foreign investment attraction activities.

Develop and implement action programs, plans, and projects on international economic integration, with contents on trade promotion, e-commerce development, expanding export markets, improving trade defense capacity, and ensuring suitability with the conditions of the province. Continue to improve the business investment environment, enhance competitiveness, implement trade promotion programs, investment promotion, tourism, and brand building; enhance digital transformation; develop e-commerce; and help businesses enhance their ability to trade, search, and expand markets.

Nguyen Hue