Creating momentum for the private economy - Part 1: Strong acceleration

The general assessment shows that after nearly 40 years of innovation, our country's private economy has gradually developed in both quantity and quality, becoming one of the important driving forces of the socialist-oriented market economy. Along with this trend, Tien Giang's private economy has also moved very strongly, contributing positively to the goal of socio-economic development, creating jobs, being an important force promoting innovation, improving labor productivity, increasing competitiveness, contributing to hunger eradication, poverty reduction, and stabilizing social life.

Looking back at the past, we can feel the shift of the private economy in the country in general, and in Tien Giang province in particular, with many great strides. If we look at the length of history, we can see that the private economy in particular, and the industry of Tien Giang in general, perhaps only officially shifted after 1986, under the light of the renovation policy set forth by the Resolution of the 6th Party Congress.

Tien Giang's textile industry is constantly growing.

Because before that, according to statistics, by 1985, Tien Giang had only 69 state-owned enterprises, playing a leading role in the industrial sector, while the private economy had not yet made much of an impression. In the spirit of innovation, Tien Giang's economy began to shift with the province's goal of restoring and developing the industrial sector, which was considered one of the key tasks, requiring the concentration of intelligence, money and effort to build it stronger and stronger. Thanks to that, in the period of 1990-2000, Tien Giang's industrial production had continuous growth.

Accordingly, the industrial production value of Tien Giang increased by an average of 12% annually, of which the increase was 68% in 1993. By 2000, the whole Tien Giang province had 4,879 industrial production establishments, including 23 state-owned enterprises, 6 foreign-invested enterprises and 4,850 private production establishments, creating jobs for about 33,000 regular workers and tens of thousands of other irregular workers, contributing about 10% of the province's GDP; at this time, the non-state sector accounted for over 50% of the total export value.

MANY BUSINESSES ARE BORN

In fact, the private economy in particular and Tien Giang industry in general after 1986 were not diversified, only focusing on a number of typical industry groups such as: rice milling, seafood processing, fruit and vegetable processing, coconut product processing, animal feed processing, beer and beverage production, textile industry, construction materials, wood processing industry...

In addition to a number of state-owned enterprises, private enterprises in each field have also gradually emerged. For example, in the seafood processing industry, in 1978, Tien Giang province invested in building a frozen seafood processing enterprise, later renamed Tien Giang Seafood Company. This is the only state-owned enterprise in the province operating in the field of processing and trading in import and export of seafood. In 1994, Tien Giang had another private frozen seafood enterprise established under the name of Song Tien Enterprise, later renamed Song Tien Company Limited. With the establishment of these two enterprises, the freezing capacity of the entire frozen export enterprise system of Tien Giang province was increased to 3,500 tons/year, and by 2000 to 6,000 tons/year.

Processed seafood contributes positively to Tien Giang's current export turnover.

Since 1999, both of the province's seafood freezing companies have had processed products that meet export standards to the European Union (EU), the US, Canada, Japan, Australia, etc., of which frozen products from shrimp and clams are the two main products. In 2000, the total export value of aquatic products of Tien Giang province reached 20 million USD. Tien Giang's seafood processing industry has continued to develop to date with many private enterprises established and promoting efficiency. Statistics show that in 2024, Tien Giang's seafood export industry contributed over 337 million USD, of which pangasius fillets accounted for about 80%. Song Tien Company Limited is still operating stably, contributing positively to the export turnover of Tien Giang's seafood industry over the past many years.

Meanwhile, since 1978, Long Dinh Frozen Fruit and Vegetable Processing Factory has been built by Tien Giang province right on the raw pineapple area of ​​the province. This is the largest factory in the Mekong Delta at this time. Up to now, many private enterprises have participated in the export fruit and vegetable processing industry. By 2024, this industry group has contributed over 112 million USD to the total export turnover of Tien Giang province.

However, in the textile and garment industry, it is worth noting that by 2000, Tien Giang had developed strongly with factories equipped with modern technology and equipment, such as: My Tho Garment Factory, Tien Tien Export Garment Company, Tien Giang Garment Factory, Nha Be Garment Factory and many other private garment establishments. However, the special mark on the private economy of Tien Giang, especially the foreign-invested enterprises, was recorded in the establishment of BGI Tien Giang Joint Venture Company in 1993, with an investment capital of 43 million USD and an initial design capacity of 50 million liters of beer and carbonated soft drinks/year...

Throughout history, the private economy in Tien Giang province continues to move, contributing positively to the local socio-economic development. Tien Giang also constantly creates an investment environment for the private economy to continue to develop.

AP
(To be continued)

Source: https://baoapbac.vn/kinh-te/202505/tao-da-cho-kinh-te-tu-nhan-bai-1-tang-toc-manh-me-1041914/