Export sector continues being a bright spot of Binh Duong

In the first half of 2018, the province’s export turnover continued growing up with trade surplus reaching US$2.5billion. Many enterprises got stable export contracts in comparison with the corresponding period last year. With advantages from free trade agreements between Vietnam and partners plus the efforts by the local administration and business community, it is sure that Binh Duong will fulfill 2018’s targets on export.

Export turnover at high growth

The province’s export value over the past six months was estimated at US$11.2billion, up 16.7% against the same period last year. Of these, the foreign investment sector surged 19.1% or 80.4% of the province’s total export value. The province’s main export products of woodwork, garment-textile, footwear, electronics…continued growing up.

Production line of TPR Vietnam Company in VSIP 2

Pham Thi Tuyet Nhung, Head of Yazaki EDS Vietnam Co.Ltd.’s Production Planning Department said that the company’s export turnover over the past six months increased by 17% compared to the same period last year. The company’s products are mainly exported into Japan, Canada, Thailand…It is expected that from now till year-end, the company with further reach growth in terms of export turnover, due to having many orders with a stable export market.

The export sector of Vietnam in general and Binh Duong in particular in 2018 will continue getting thriving, thanks to advantages from free trade agreements between Vietnam and partners plus the efforts by localities and enterprises, export markets expanded…

According to Truong Thuy Lien, Vice-Chairwoman of Binh Duong Leather and Shoes Association, Director of Lien Phat Co.Ltd. in Di An town, many footwear enterprises in the province have actively invested in the state-of-the-art production lines, expanded export markets…Their products have ensured quality and met requirements of clients. Since early this year, the company’s export turnover has continued reaching stable growth with the amount of orders and total revenue increasing by 10% and 10% compared to the same period last year.

Further improving investment climate

Pham Van Xo, Chairman of Binh Duong Association of Exporters and Importers said that with the current advantages, Vietnam will soon become an international workshop. This is because many great enterprises have gradually switched to placing orders in Vietnam. Domestic enterprises have actively invested in new technologies, made restructuring of production and improved managerial officials’ qualification, thereby enhancing the quality of products to well meet international markets’ needs.

However, he also said that Vietnam’s exports have faced many challenges from tax tariff, materials, workforce…. Hence, domestic enterprises need to deliberate these issues in order to seek effective and appropriate development ways.

According to leaders of Thai Binh Shoes Company in Di An town, in a bid to improve its competitiveness, the company has bravely applied a management technology from Germany at requirements of the 4^th industrial revolution. Whilst, Mrs.Nhung added that her company will recruit another laborers with incentive policies to be able to complete 2018’s plan.

For better development, the province will also continue improving the local investment climate. Accordingly, the province will opportunely deal with investors’ difficulties; organize dialogues with enterprises to help remove their obstacles in production-business; strengthen trade promotion activities…

Reported by Phuong Le-Translated by K.T