PORTAL - By the end of
the third quarter of 2020, good news are coming to companies as orders have
started to recover, the domestic market prospers, and large investment works
are urgently being completed.
Orders are back
drastic solutions to facilitate production and business activities, maintain a
growth rate, economic situation of the province in the third quarter continued
to show optimistic signs. In September, the province's key products continued
to grow well. According to information from associations and industries, many
good signals are approaching after months of efforts to maintain production.
Export turnover of wood products in September was estimated at USD 612.7
million, up 6.5% compared to the previous month, garment exports were estimated
at USD 338.2 million, up 10.7% over the previous month... The growth figures
have been the motivation for industries to accelerate their operations in last
months of the year, creating new motivation for the new period.
are pleased and encouraged as orders start to flourish again, and are making
efforts to offset negative effects of the pandemic. Sompob Witworrasakul,
General Director of Vina Kraft Paper Company, said the company overcame certain
difficulties, gradually operated steadily and strived to fulfill targets set in
this year. Mr. Sompob appreciated Binh Duong's effort in disease epidemic
control, creating favorable conditions, supporting enterprises to operate
food production companies, such as Vi Hao Company (Tan Uyen Town), the recovery
sign from export orders is quite clear. By the end of September, orders from
the U.S., Europe, Japan, South Korea also began to return. "The return of
orders are a good sign for manufacturing sectors, but the challenge now is that
partners have not placed long-term orders but only immediate needs", said
Nguyen Thi Xuan Thuy, Managing Director of Vi Hao Company.
the domestic market, enterprises have also been striving to achieve equal
revenues to ones in 2019. Many retail companies are implementing a throughout
strategy that focuses on existing resources, especially to retain customers
through improving services and launching many discounts and promotions to
stimulate consumption. According to a representative of MM Mega Market, since
the epidemic outbreak, all sales from wholesale sales to restaurants, hotels,
schools have declined, even there were months without revenue. To ensure equal
revenue to the figure in 2019, enterprises also proposed many solutions,
including focusing on sales promotions and discounts to stimulate consumer
demand. Currently, many items in this supermarket system are having a reduction
rate of up to 50%. After the outbreak of Covid-19, consumer habits and
behaviors have changed dramatically. Consumers tend towards online shopping.
Therefore, the prioritized strategy of this company this year is to find and
expand the market, research and develop new product lines and continue to
implement cost reduction measures.
Many great opportunities
positive sign for the footwear industry after the Covid-19 is that Vietnamese
enterprises have many great opportunities to participate in the world supply
chain. Nguyen Duc Thuan, Chairman of Vietnam Leather Footwear and Handbag
Association, said: "The world's major footwear corporations are projecting
to shift about 15-20% of the supply chain from China to other countries.
Vietnam is a place that can quickly satisfy large and difficult orders. When
the Covid-19 subsides, many orders for shoes and bags will move to
to the previous hesitancy, Tran Thanh Trong, Chairman of Provincial Association
of Electrical Engineering, said that many enterprises in the association were
confident in their production capacity to participate in the market supply
chain, especially to immediately supply FDI enterprises in Binh Duong to
minimize transportation, import costs, reduce product costs, improve the
competitiveness of goods. In particular, many enterprises manufacture not only
simple products, such as screws, molds, plastic covers, packaging... but also
products with high added values, such as motor cores, electronic chips, circuit
many FDI enterprises, after a favorable investment period in Binh Duong, have
expanded their production scale and continued to increase investment capital in
factories. According to Tran Van Hiep, General Director of Dai Hoang Company
specializing in factory construction for foreign partners: “During the
epidemic, our company still worked to full capacity, and now we cannot receive
more orders. Customers regularly update production progress via Email, Zalo...
Up to now, the company has signed construction contracts for 10 projects with
investment capital from several millions to several tens of million USD”.