Since the beginning of this year, although the world’s economy has slowed down, risky factors have increased, enterprises in the province have been operating stably, production and order number have increased significantly compared to the same period last year. This is the prerequisite for businesses to complete the 2019 target early.
Production activities at An Khang Wood Company (Tan Uyen Town).
The number of orders increases well
Most enterprises in the province received orders for production until the end of 2019; order volume increased by 10% over the same period last year. Many enterprises have stable and long-term export orders... The production and business of enterprises continued to grow well, helping the province's industrial production index increased sharply in the past 10 months, increasing by 14.07% compared with the same period last year.
Remarkably, the province's key export items, such as wood processing, textiles, footwear, ceramics, electronics, have grown significantly over the same period in 2018. In particular, in the first 10 months of 2019, the revenue of export wood industry was estimated at $2.4 billion, up 15% over the same period, accounting for 11.2% of provincial total export turnover.
Regarding textile and garment industry, over 9 months of 2019, export turnover reached $2.36 billion, up 13.7% over the same period, accounting for 11.3% of the province's export turnover. At present, textile enterprises have export orders till the end of this year. However, there were concerns over exchange rate risks between currencies continues to fluctuate according to the evolution of the US-China trade war, leading to diminishing number of export orders of textile enterprises in the province with short-term contracts, instead of large ones as before.
Meanwhile, footwear export turnover increased significantly in most major export markets such as Europe, the US, Taiwan, Japan, and South Korea. Footwear enterprises in the province have export orders until the end of the year, with an increase of export order number by 10% over the same period last year. In October alone, the export turnover of footwear industry was estimated at $402 million, up 3% over the previous month, up 17.4% over the same period last year.
To be proactive in labor stability
In the last months of this year, many businesses have to race for production to meet orders, so the demand for labor and overtime work would increase. Many businesses have posted urgent recruitment of workers, accompanied by attractive incentives. Enterprises with the highest labor demand are in fields of wood, garment and electronics...
In order to retain employees, Phan Phuong Linh, HR Director of Earth Corporation Vietnam Company (Tan Uyen Town), said due to fluctuations of the labor market, the company created strengthened worker’s long-term commitment. The company regards employees not as assets but as shareholders, members of the big family. Therefore, the assurance of a stable life, good implementation of regimes and policies, taking care of the spiritual life of employees is done seriously by the company.
Reported by Tieu My – Translated by Ngoc Huynh
