Local sector of industry-trade actively advocates enterprises

In 2018, the province’s sector of industry and trade has been entrusted a task of further advising provincial People’s Committee on issuing preferential policies for enterprises so that they can maintain and improve their growth effectiveness.

Contributing to sustainable industrial development

2017 was a special year, making the success of Vietnam in export. Vietnam’s export turnover surpassed US$200billion for the first time with the growth of more than 21%. For Binh Duong, index of industrial development surged 10.98% or 102.18% of the set plan. Provincial Department of Industry and Trade said that the province reached good results in taking solutions on loan support, productivity improvement and demand-supply linkage over the past time.

Production of Thuan An Wood Processing Joint Stock Company

To achieve sustainable development, the province’s sector of industry and trade over the past time attached special importance to power management and supply at enterprises and locals’ demand. The province last year reached more than 10 billion KWh of commercial electricity, up 11.11% compared to the previous year.

Nguyen Duc Thanh, Director of the Vietnam Institute for Economic and Policy Research (VEPR) said that stable macroeconomics plus innovations to improve the investment climate pursued by the Government is expected to further uphold their efficiency, more actively supporting production-business activities in 2018. Besides, 2018 is the year Vietnam will gradually realize commitments of 16 free trade agreements with a series of tariffs to reduce to 0%. This is not only the opportunity, but the challenge for enterprises in the province.

Improving enterprises’ competitiveness

Provincial People’s Committee has promulgated the Decision No.3508/QD-UBND on the issuance of the Project strengthening support activities to improve domestic enterprises’ competitiveness in the province for the period of 2017-2020. The objective of the project is to enhance enterprises’ competitiveness via accelerating support activities for development, contributing to economic restructuring in association with innovating growth models, enhancing labor productivity and economic competitiveness. Particularly, the province will strive to have at least 50,000 enterprises; export turnover will reach a double growth compared to 2016 with the annual growth of 15%. There will be at least 3 enterprises winning the national quality award every year…

Provincial People’s Committee has also assigned provincial Department of Industry and Trade to coordinate with sectors, departments, the People’s Committees of districts, towns, TDM city, industries’ associations and enterprises to strengthen auxiliary industrial development; advise provincial People’s Committee on realizing support policies for infrastructure investors and enterprises making investment in industrial compounds…

According to Nguyen Van Danh, Director of provincial Department of Industry and Trade, the Ministry of Industry and Trade has cut down 674 business and investment conditions, implied 183 out of 508 administrative procedures…This is also one of favorable conditions for enterprises to develop. In 2018, the province’s sector of industry and trade will continue taking synchronous support solutions; effectively carry out the Project strengthening support activities to improve domestic enterprises’ competitiveness in the province for the period of 2017-2020. The sector will also continue coordinating with the local functional agencies to help enterprises opportunely remove their obstacles in terms of demand-supply linkage, production materials…

Reported by Tieu My-Translated by K.T