Nam Dinh enterprises determined to promote production and business to achieve breakthrough growth

Manufactured at Giao Yen Professional Sports Garment Joint Stock Company (Giao Thuy).

Breakthrough in industrial production, flexibly solving the problem of product consumption

Nam Dinh 's industrial production index (IIP) in the first quarter of 2025 increased by 23.25%, the highest level in the past 5 years. In particular, the processing and manufacturing industry, the backbone of the province's industry, increased by 23.5%, contributing mainly to the overall growth. Despite difficulties in input material costs, many businesses still strive to maintain production, maintain jobs for workers and promote expansion. Some industries with outstanding growth rates: Food processing increased by 17.93%; textile increased by 15.03%; bed, wardrobe, table and chair production increased by 15.2%; metal production increased by 10.72%; electrical equipment production increased by 8.72%; garment production increased by 8.26%... In particular, the computer manufacturing industry, a newly emerging high-tech sector in Nam Dinh, has made great strides. QMH Computer Co., Ltd. (under Quanta Computer Inc.) after 5 months of operation has increased the number of employees by nearly 2.5 times and its capacity has increased more than 2 times compared to the time of launch.

Not only facing high input costs, many businesses also have to solve the problem of declining purchasing power and output congestion. However, thanks to creative sales strategies, applying digital technology, expanding the domestic market and boosting exports, businesses in the province have turned the situation around, achieving encouraging results: The consumption index of the entire processing and manufacturing industry increased by 143.46% over the same period, showing a strong recovery in purchasing power; inventories of the entire processing and manufacturing industry decreased by 16.03%, helping businesses release capital and reduce financial pressure. Some industries have seen strong increases in consumption, demonstrating the flexible adaptability of businesses: Production of beds, cabinets, tables and chairs increased by 123.2%; production of leather and related products increased by 35.09%; production of costumes increased by 21.37%. Although the world market is still volatile, the province's enterprises have proactively taken advantage of export opportunities and diversified markets, helping the export turnover in the first quarter of 2025 reach 939 million USD, an increase of 56.2% over the same period. Main export items: Garments, computers, leather and footwear, forestry products. Import turnover reached 781 million USD, an increase of 125.5%, mainly raw materials for production. Trade surplus of 158 million USD, creating a great advantage for the local economy .

Thanks to the steadfastness of businesses and the support of the government, Nam Dinh's economic growth in the first quarter of 2025 reached 11.86%, the highest level in history, ranking first in the Red River Delta and third in the country. In particular, the industrial and construction sector played a key driving force, contributing 7.31 percentage points to the overall growth rate. The number of businesses resuming operations and expanding production increased. In the first quarter of 2025, the whole province had 520 newly registered and resuming operations, an increase of 1.8% over the same period with the total number of registered workers added to the economy 2.7 times higher than the same period in 2024, reflecting strong confidence in the province's investment and business environment.

Determined to maintain growth momentum

In addition, according to the Provincial Statistics Office: The results of the survey on business trends of enterprises in the processing and manufacturing industry (a group of enterprises in the backbone sector of the province's industry) show that: The forecast for the second quarter of 2025 continues to be positive, when 89.44% of enterprises assess that production and business activities will be stable or develop better.

However, Vietnam's economy continues to face great difficulties as the US has just announced the imposition of reciprocal import tariffs on goods with more than 180 trading partners; about half of the economies are subject to a common tax rate of 10%, effective from April 5, while major US trading partners will be subject to a higher rate of up to 50%, effective from April 9. Vietnam is among the countries subject to high tax rates when the US imposes a reciprocal tax of up to 46%, causing businesses to worry that their goods will be severely impacted, reducing the competitiveness of Vietnamese goods compared to products from other countries. To proactively respond to the current situation, the Prime Minister requested the immediate establishment of a rapid response team on this issue headed by Deputy Prime Minister Bui Thanh Son, and Deputy Prime Minister Ho Duc Phoc was assigned to chair and direct ministries and branches to listen to opinions from businesses, including large exporting enterprises. The Government has also directed the implementation of comprehensive, harmonious, reasonable and effective measures, both short-term and long-term, to quickly and most effectively overcome difficulties, obstacles and external shocks.

The province has also quickly taken action, requiring departments, branches, functional sectors, and localities to closely follow all directions from the Central Government; to be calm, courageous, flexible, and proactive in actively implementing the policies set forth by the Central Government as well as promptly deploying programs and measures to guide and support enterprises exporting goods to respond promptly, effectively, and most practically to all developments, overcoming all difficulties related to the US imposing reciprocal tariffs of up to 46% on Vietnamese goods. At the same time, it is recommended that sectors and localities consider this an opportunity to affirm their own mettle and intrinsic strength; an opportunity to restructure the economy towards rapid but sustainable development, greening, digitalization, based on science and technology, innovation; promote the construction of an independent, autonomous economy associated with deep, substantive, and effective international integration; promote market expansion, product and supply chain diversification; promote localization; Strengthen exploitation of domestic markets and resources.

Require sectors, localities and units to promote the application of technology and digital transformation to improve the efficiency of management and service for businesses; resolutely concretize Resolution 57-NQ/TW of the Politburo on scientific and technological breakthroughs, innovation and national digital transformation with solutions suitable to local realities. Continue to promote administrative reform, improve the quality of service for people and businesses and ensure a transparent and open investment environment. In addition, continue to promote investment attraction and support business development. Major projects such as Quanta, JiaWei, Sunrise Material are being given maximum conditions for investment implementation, in parallel with promoting two steel factories of Xuan Thien Group in Nghia Hung. In 2025, Nam Dinh is striving to start construction of a series of new industrial parks, such as Trung Thanh (June 2025), Hai Long (quarter III/2025), along with speeding up the approval of Nam Hong, Minh Chau, Xuan Kien industrial parks; promoting related tasks to soon invest in the construction of industrial parks that have been decided to be established to expand industrial space, create momentum to attract domestic and FDI investors and create a spillover effect, promoting the province's socio-economic growth.

In the coming time, sectors and localities will actively and promptly implement support policies from the Central Government, helping businesses overcome difficulties, restore production and business such as tax exemption, access to credit, find customers, and stabilize the market. The Department of Industry and Trade will promote activities to provide information, connect, and expand markets for domestic businesses. In particular, focus on organizing trade promotion programs to export markets, prioritizing the connection between central agencies and provinces and cities nationwide with trade agencies of other countries. Support domestic goods to access retail systems abroad. Provide free support for businesses with information and knowledge about international economic integration, opportunities and challenges of free trade agreements (FTAs), helping to improve competitiveness and penetrate deeper into the global value chain.

Continue to recommend that the business community in the province needs to make more efforts and be more proactive, in addition to the companionship and support of authorities at all levels and functional sectors to overcome difficulties as experienced in recent years in the context of the COVID-19 pandemic, military conflicts in many places around the world, supply chain disruptions, etc., constantly promote production and business growth, determined to maintain growth momentum, and successfully achieve the province's GRDP growth target of 10.5% or more in 2025.

Article and photos: Thanh Thuy

Source: https://baonamdinh.vn/kinh-te/202504/doanh-nghiep-nam-dinh-quyet-tam-thuc-day-san-xuat-kinh-doanhbut-pha-tang-truong-db2051e/