Update: 07:49 | 15/01/2020
(BGO) – With positive signals from the market, the industrial production is expected to sharply increase in 2020. Many enterprises in the northern province of Bac Giang have boosted up the production at the start of this year to meet the partners’ demand.
Many new orders
Promoting the good growth in 2019, several garment firms in the province have expanded their production and business since first days of new year. At this moment, most of the garment facilities have inked huge orders with foreign partners for the whole year so they are focusing on production to ensure the delivery schedule instead of the output.
Workers at Ha Phong Export Garment JSC (Hiep Hoa district) complete the garment products to ensure the export schedule.
Ha Phong Export Garment Joint Stock Company ( Ha Phong JSC) in Doan Bai commune, Hiep Hoa district is a typical case. According to the Chief Executive Officer of Ha Phong JSC Nguyen Van Khanh, the company will export more than 500 million Jacket and feather coat to the markets of the U.S, EU in 2020, up 7 million products comparing to the last year figure, 90 – 95 percent of which are exported to the U.S.
Also on the first days of new year, Bac Giang Import Export JSC (Bac Giang city) invested 170 billion VND (7.3 million USD) to buy a modern paper producing machine from Europe to increase the capacity up to 15,000 tonnes per line in order to ensure the quantity and quality for the signed contracts to their partners.
Thus, 62,000 tonnes of Tissue and 59,000 boxes of Posy paper have been exported to Thailand and Republic of Korea since January 1 with total value of 100,000 USD. Bac Giang Import Export JSC targets to export 10 million USD of various paper products this year.
Not only domestic companies but also foreign direct investment businesses in the industrial parks and clusters are accelerating the production for new orders such as New Wing Interconnect Company Limited (Co.,Ltd), Vina Solar Technology Viet Nam Co.,Ltd in Van Trung Industrial Park ...
According to the Industry and Trade sector, the sectors of garment, electronic, electronic component and wood products among others will continue achieving high growth this year. The actual value of the provincial industrial production is estimated at over 22 trillion VND (953.2 million USD) in January, making a year on year increase.
Production and business acceleration
This year, the province sets a target to achieve the value of industrial production (actual value) of 275 trillion VND (11.8 billion USD), making year on year increase of nearly 31 percent.
Workers at Wonjin Vina Co.,Ltd in Van Trung industrial park highly focus on production on the first days of new year.
To realize this target, the provincial People’s Committee gave drastic instruction to the competent sectors in the beginning of this year to implement the Resolution No 02/NQ-CP in 2020 about the major solutions to improve the business and investment environment to the business.
According to the Director of the Department of Industry and Trade Tran Quang Tan, the Department is now highly focusing on reforming the administrative procedure, creating the open environment to draw the investment while supporting the enterprises to develop the processing industry.
At the same time, the priority is taken to change the industrial mechanism so as to attract the investment in processing and manufacturing industries such as garment, precise mechanical, agro forestry and fishery processing while reducing the ratio of fabrication and erection to the industrial product.
Additionally, the Department has taken advantages of the national and local sources of industrial encouragement to support the enterprises to enhance the management capability, application of new technology as well as improve the competitiveness on the market.
The Tax Office and Custom Office controlling the provincial industrial parks should review to simplify the tax formalities and facilitate the agencies to carry out the custom declaration procedure to ensure the export plan.
Adding to the attention and facilitation from the province and competent agencies, many businesses have actively searched for the markets and promoted the products to gain stable orders with high value.