Difficulties forge character

Never before have Thai Binh businesses and entrepreneurs faced difficulties from many sides as they have since the beginning of the year, but they have managed to adapt and find their own way to survive, develop, and contribute positively to economic growth. When meeting and congratulating entrepreneurs on the occasion of Vietnam Entrepreneurs Day on October 13, Mr. Nguyen Khac Than, Deputy Secretary of the Provincial Party Committee and Chairman of the Provincial People's Committee, emphasized: "The more difficulties, the more the will and aspiration to rise of Thai Binh entrepreneurs are highlighted."

Long Hau Ceramics Joint Stock Company invests in many automated machines and advanced production technology.

Fire tests gold...

Three-quarters of 2023 has passed, and businesses in the province have struggled, with many weak businesses falling into recession. 491 businesses have had to temporarily suspend production and business, and 96 businesses have voluntarily dissolved. These numbers are enough to show us how great the difficulties and pressures the business community is facing are.

For textile and garment enterprises, production orders have decreased by 25-40% compared to the same period in 2022, seriously affecting the maintenance of jobs and income of workers. Not only competing domestically, enterprises also have to face many foreign competitors due to cheap orders, green technology... Meanwhile, enterprises in the textile, leather and footwear, mechanical, handicraft and construction materials industries are facing difficulties due to high input costs while product prices sold on the market remain almost unchanged.

Mr. Ngo Quang Van, Director of Thien Van Mechanical Joint Stock Company (Thai Thuy) said: The prices of production materials, energy prices such as electricity, coal, gas, and gasoline all increased by 3-12%, and logistics service fees also increased, causing product costs to increase by 15-20%. However, due to the decrease in total demand, businesses still have to keep product prices stable in the hope of stimulating consumption and avoiding large inventories.

The domestic market's absorption capacity for goods has decreased, and so has the export market. From Europe to America, the Middle East and Northeast Asia, major export markets for businesses in the province, have all shrunk. Businesses only receive export orders in small quantities and low value. Not only that, trading partners are increasingly strict with high quality criteria, green technology, and environmental friendliness, putting export businesses in a position where they must adapt and have new production solutions to survive, leading to significant costs for machinery and technology innovation.

Bright entrepreneurial spirit

Faced with many difficulties, the entrepreneurs did not get discouraged, avoid, or wait for the right time, but faced them head-on, proactively researched, and created opportunities to rise up. That is also the strong will, resilience, and desire for development of the Thai Binh people and Thai Binh entrepreneurs.

Mr. Bui Van Son, Chairman of the Board of Directors of Long Hau Ceramics Joint Stock Company (Tien Hai Industrial Park) shared: Difficulties made us realize that the structure of the management and production model has limitations and we also saw the rapid changes of enterprises in countries around the world in the period of the 4.0 industrial revolution. Long Hau must proactively rearrange human resources, manage capital flows more closely and focus on key investments, mainly innovating production technology, increasing the rate of automated machinery and improving workers' skills. Thanks to that, the Company improves productivity, product quality, reduces production costs, ensures reasonable and stable prices, and creates competitiveness for products. Long Hau has a solid position in the domestic market and exports to Italy, Brazil, Korea, and Myanmar.

Not only Long Hau, many enterprises in the province have chosen to innovate technology and machinery to create development momentum. Along with that, many enterprises have also quickly implemented comprehensive digital transformation from management, operation to production, business, connecting production with the market. Typical examples are Tan De Sports Goods Production Joint Stock Company, Hung Thinh Phat Company Limited, Huong Sen Comfor Textile Fiber Company Limited, AP Phu Hung Trading Company Limited...

Hung Thinh Phat Company Limited builds a 5D car showroom on the internet to help customers increase their experience and convenience in shopping.

Mr. Vu Manh Hoan, General Director of Hung Thinh Phat Company Limited, said: Up to now, Hung Thinh Phat's car and motorbike dealership system has covered the districts and cities serving Thai Binh consumers. However, to increase the experience and convenience in the process of learning about and purchasing means of transport, Hung Thinh Phat has put all information and images of products on the company's website and social networks. In particular, the company has successfully built a 5D car showroom on the internet environment to help customers visit and shop anytime, anywhere without having to go directly to the dealership. Digital transformation helps businesses eliminate distance and time to reach customers, increasing sales very effectively.

Mr. Nguyen Thanh Tung, Deputy General Director of Huong Sen Comfor Textile Fiber Company Limited, shared: Digital transformation helps us manage, operate, and monitor all business activities remotely and at any time. Building big data information about the business also allows us to search and select the best raw material suppliers and expand export markets. Currently, Huong Sen Comfor has brought stable export products to the markets: China, India, Bangladesh, Singapore and some European countries.

Instead of just focusing on producing good products at reasonable prices and then waiting for customers to come like before, businesses have proactively sought ways to introduce and sell products; research market needs and then produce goods to meet them through trade promotion activities.

Two of the enterprises that have actively promoted domestic and foreign trade over the past two years are Bao Hung International Joint Stock Company and Thien Hoang Technical and Commercial Joint Stock Company. In addition to participating in investment and trade promotion delegations in Northern European countries, Italy, France, Japan, Korea, and Singapore, these enterprises have proactively brought their products to international trade fairs and met directly with customers in many countries to negotiate exports.

Mr. Dao Duc Hung, General Director of Bao Hung International Joint Stock Company said: Approaching the market and target customers is the way to help the Company promote product consumption and build appropriate and effective production plans for the business.

Bao Hung International Joint Stock Company participates in the Seoul International Food Exhibition 2022 (Seoul Food 2022) at the Kintex Korea International Exhibition Center.

The creativity and determination of each entrepreneur are the key factors for businesses to overcome difficulties and make positive contributions to the socio-economic development of the province.

Mr. Tran Van Quang, Permanent Vice Chairman of the Provincial Business Association, said: In the first 9 months of 2023, the total production value of the whole province is estimated at 141,336 billion VND, an increase of 7%, of which the industrial production value increased by 9.2% over the same period in 2022. Enterprises contributed 2,710 billion VND to the provincial budget and paid import-export tax of 1,139 billion VND. Together with other economic sectors, the business community and enterprises have made important contributions to creating an economic picture with such bright colors.

Khac Duan

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