Order confirmation
In early April, Quoc Quang Vietnam Company (Dien Nam - Dien Ngoc Industrial Park, Dien Ban town) announced an unlimited recruitment drive to expand its production scale. However, to date, they have only recruited about 1,300 people, falling short of the projected 1,800-2,000 workers by 500-700.
In 2019, Quoc Quang Vietnam Company (a Chinese-invested company) officially invested in building an electronic component manufacturing plant on an area of 4 hectares in Dien Nam - Dien Ngoc Industrial Park.
Despite the impact of the COVID-19 pandemic, the company's business results have continued to grow. While total revenue reached $36.4 million in 2021, it exceeded $86 million in 2023, providing employment for approximately 670 workers with monthly salaries ranging from 6.5 to 7 million VND per worker; office staff and engineers earn an average salary of 15 million VND.
Stable production and business operations have helped the company's sales grow steadily, estimated to have increased by more than 47% in the first four months of the year compared to the same period last year.
Quoc Quang Company is one of dozens of manufacturing and trading businesses in the province that have thrived since the end of the COVID-19 pandemic. Some businesses, after a difficult period, have now recovered and developed well, especially those operating in the garment, electronics, and frozen seafood sectors.
At Fashion Garment Company (Tam Thang Industrial Park, Tam Ky City), the recovery rate is very promising, with increasing orders, ensuring sufficient work for workers until the end of 2024.
According to Mr. Le Van Chau, Head of Human Resources at Fashion Garment Company, in order to meet production requirements, the company has repeatedly announced recruitment drives since the beginning of the year but still lacks sufficient workers.
Currently, Fashion Garment employs 2,300 workers, with an average monthly income of approximately 7 million VND per worker. To maintain stable production, the number of employees is expected to reach nearly 2,500.
Fashion Garment Company primarily manufactures lingerie for export to two main markets: the US and Europe. Therefore, the economic recovery in these two markets in recent times has had a significant impact on orders and the company's growth rate.
Positive signal
According to a report by the Department of Planning and Investment, compared to the same period in 2023, the number of newly established businesses in the first five months of the year increased both in terms of the number of businesses and the registered capital.
As of May 31, 2024, the province had 564 newly registered businesses, an increase of 4.1%, with registered capital of nearly VND 4,001 billion, an increase of 22.5%. The total number of businesses entering and re-entering the market was 831, an increase of 4.66%.
Regarding domestic investment in the first five months of the year, 14 new projects were granted licenses with a total registered capital of over 4.2 trillion VND, while 4 projects were revoked. Seven new foreign direct investment (FDI) projects were granted licenses with a total registered capital of 124.2 million USD, while 1 project was revoked.
To date, the province has accumulated 1,148 domestic investment projects with a total capital of nearly 230 trillion VND and 199 active foreign investment projects with a total registered capital of over 6.2 billion USD.
One positive sign is that many businesses have secured stable orders and expanded markets and customer bases, including small and micro-enterprises operating in the food and consumer goods manufacturing sectors.
According to statistics, the number of workers employed in industrial enterprises at the end of May 2024 increased by 32.6% compared to the same period in 2023; of which the increase in employment index was mainly in the foreign direct investment (FDI) sector (up 56.4%); the non-state enterprise sector (up 5.6%); and the state-owned enterprise sector (up 1.1%).
Recently, Quy Thu Production and Trading Co., Ltd. (Que Son) signed a contract with a South Korean partner to officially export baked coconut cakes to the South Korean market.
Accordingly, initially, Quy Thu will export half a container of cakes to South Korea, then gradually increase the quantity. Quy Thu Production and Trading Co., Ltd. is famous for its baked coconut cakes that have received OCOP certification. This is the second enterprise in Quang Nam with OCOP products to export to the world through official channels, after the products of the "Ba Ba Hoi" brand (Tam Ky).
Mr. Bang Hao Van, General Director of Quoc Quang Company, predicted that the peak production would fall in the second half of the year, so from August to November the company would have to continue recruiting new workers to meet orders from partners.
Since the beginning of the year, orders have been continuously increasing, reflecting not only the recovery of the international electronics market. With this trend, market demand is expected to continue to grow in the second half of this year, with an increase of 60-80%.
This is also the assessment of many managers and experts in recent months regarding the positive signs of the economy, thereby creating a foundation for the business community in Quang Nam to recover after a long period of difficulty.
Source: https://baoquangnam.vn/doanh-nghiep-vuot-kho-hoi-phuc-3136793.html
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