FDI enterprises in Hai Duong accelerate at the end of the year

At this time, Tinh Loi Garment Company Limited has received enough orders for 100% of workers to work until the end of January 2025.

Proactively overcome difficulties

In 2024, most FDI enterprises in Hai Duong faced many difficulties and challenges due to the impact of regional wars, natural disasters, especially the direct impact of storm No. 3 (Yagi) in early September, but still achieved quite stable growth.

Sumidenso Vietnam Co., Ltd. currently has about 11,000 employees working in 2 factories in Dai An Industrial Park and 1 factory in Nghia An Industrial Cluster (Ninh Giang). Located in a large area, the company was heavily affected by storm No. 3. The entire roof of factory No. 1 of the company was blown off, the workshop was flooded. When the storm ended, most of the employees joined hands, side by side with the company's leaders and factories to overcome the damage caused by storm winds and flooding. After 1 week, factory No. 1 resumed production.

"Thanks to the quick recovery after the storm, the company's production and export plans were not affected, and orders were still delivered according to signed contracts. The company is accelerating production and continuously recruiting more workers to meet the year-end order schedule," said Mr. Nguyen Hoang Lan, Director of Sumidenso Factory 1.

Tinh Loi Garment Company Limited is a member of Crystal International Group (Hong Kong, China). The company has 3 factories operating in Hai Duong with nearly 18,000 employees. As a leading enterprise in the Vietnamese garment export "village", the company has proactively overcome many difficult times due to negative impacts from tensions caused by political conflicts, threatening economic recovery and supply chains. To cope with adverse impacts, the company has strengthened the assessment of the supply chain of raw materials, ensuring regulations on the origin of textile products when exporting to demanding markets such as the US, EU, etc.

"We closely monitor international market developments, while strengthening corporate governance and applying many measures to effectively respond to challenges when input costs increase due to increased shipping costs, wages, electricity bills, bank interest rates, etc.," said Mr. Le Hong Quan, General Director of Tinh Loi 2 Factory.

Dong A Aluminum Company Limited in Tan Dan Industrial Park (Chi Linh) is a company specializing in the production, processing and export of aluminum profile products. In 2024, like many other businesses, the company encountered many difficulties due to market fluctuations, foreign currency prices, and continuously increasing gold prices, causing raw material prices to increase, greatly affecting production. "Thanks to optimizing the production process, diversifying raw material supplies and maintaining sustainable relationships with strategic partners, the company still ensures stable production and business activities," said Mr. Truong Gia Huy, General Director of Dong A Aluminum Company Limited.

Full order

Dong A Aluminum Company Limited expects to achieve a growth target of over 20% in 2024

The last months of the year are considered the "sprint" time for businesses to accelerate and reach the finish line, and at the same time, it is also the "golden" time for businesses to find partners, sign orders, and prepare plans for the new year.

By the end of November 2024, Sumidenso Vietnam Co., Ltd.'s revenue increased by about 15% compared to 2023. Currently, the company's orders have also increased by about 10% compared to the same period last year. These orders ensure the company's production until the end of January 2025.

To ensure delivery progress for partners, in addition to organizing overtime for workers, the factory is continuously recruiting workers. According to a representative of Sumidenso Vietnam Co., Ltd., the additional workers are focused on areas of production and assembly of electrical wiring systems in cars and wires in printers. New workers starting from November 2024 will still receive a 13th month salary, work 5 days a week with an average income of over 10 million VND/person/month...

Formostar Vietnam Garment Company Limited (Hai Duong City) currently has more than 1,000 workers. At this time, the company's orders are enough to produce until the end of the year. To ensure the progress of orders, the company has added many types of modern, automatic machines such as programming machines, ironing machines, fabric cutting machines, button feeding machines, hanging transfer systems... Each month, the company produces about 250,000 products, all of which are exported to the US market (accounting for 80%), EU and Asia.

At Hyundai Kefico Vietnam Co., Ltd. (Dai An Industrial Park), invested by Korea, all production lines are operating at full capacity to meet the delivery schedule for year-end orders. The representative of Hyundai Kefico Vietnam Co., Ltd. said that in 2024, the company will continue to expand production, business, and search for customers, so in the last months of the year, the number of orders will increase, and the company will also have to recruit more workers. It is expected that in 2024, the company's revenue will increase by 10% compared to 2023.

Harvest "sweet fruit"

Sumidenso Vietnam Co., Ltd.'s revenue in 2024 is expected to increase by 15 - 20% compared to
2023

With many solutions and efforts to overcome difficulties, most FDI enterprises are waiting to reap "sweet fruits".

At this time, Tinh Loi Garment Company Limited has received enough orders for 100% of its workers to work until the end of January 2025. To ensure orders, workers have worked overtime 2 hours/day. Currently, the company exports finished products to partners every week according to signed contracts. The company's main export markets are the US and Japan.

Mr. Le Hong Quan, General Director of Tinh Loi 2 Factory, added that the company's revenue in 2024 is expected to increase by 15 - 20% compared to 2023.

Dong A Aluminum Company Limited expects total output in 2024 to reach over 60,000 tons, up 15% over the previous year, of which nearly 80% will be exported, mainly to the US, Australia, and Canada markets. Revenue is expected to reach VND2,800 billion, up about 10% over 2023, with tax payment of VND250 billion. "In the last months of the year, the number of orders continues to increase both domestically and for export. The company is accelerating production to meet the order requirements of all partners. In particular, the company always ensures product quality to maintain its global brand," Mr. Truong Gia Huy added.

A series of other FDI enterprises such as Brother Vietnam LLC, Ford Vietnam, Makalot Vietnam Garment... orders also increased by 10% - 20% compared to 2023. Many enterprises produced beyond the plan and increased compared to the same period in 2023. Some enterprises have also found large orders for 2025.

According to the Department of Planning and Investment, in addition to the initiative and efforts of FDI enterprises, all levels, sectors and localities in the province have actively supported with specific actions. The province has cut many administrative procedures, improved the investment and business environment, enhanced competitiveness; strengthened trade promotion; actively removed difficulties for enterprises...

Hai Duong currently has nearly 600 FDI projects from 27 countries and territories with a total registered capital of more than 10.582 billion USD. In 2024, FDI attraction is estimated to reach 500 million USD, reaching 100% of the plan. Compared to 2023, the province's total export turnover is estimated to increase by 8.6%, reaching 10.3 billion USD and imports are estimated to reach 8.3 billion USD, up 10.4%. Revenue of the FDI sector in 2024 is expected to reach more than 9 billion USD, contributing over 500 million USD to the budget.

LONG VY

Source: https://baohaiduong.vn/doanh-nghiep-fdi-o-hai-duong-tang-toc-cuoi-nam-399009.html