Maintain industrial growth momentum

In the first months of 2024, industrial production still faces many difficulties and challenges. However, with the efforts in management, leadership and direction of all levels and efforts to overcome difficulties and flexibly seek to expand output markets of enterprises, Thanh Hoa industry still achieved positive results.

Garment output increased by 7.6% in the first 5 months of the year (in photo: Product quality inspection at Tien Son Garment Corporation).

SAB Vietnam Industrial Factory, invested by Weixing Group in Bim Son Industrial Park, specializes in manufacturing clothing accessories such as zippers, plastic buttons, metal buttons, etc. After 2 years of construction, in March 2024, the factory was completed and officially put into operation. Mr. Wang Wo, General Director of SAB Vietnam Industrial Factory, said: "Immediately after the inauguration of the factory, we had many customers come to visit and sign many orders. We are focusing on boosting production, building reputation and brand to connect with more customers. In the first year of operation, we expect to have a revenue of more than 56 million USD, creating jobs for more than 500 workers. When operating stably, we will increase capacity, creating jobs for about 1,000 workers, with expected revenue of about 100 million USD/year".

In addition to new industrial products entering the market, the first months of 2024 have also witnessed the recovery and steady growth of many key and traditional industries, such as: petrochemical products, electricity production, tobacco, ready-made garments of all kinds, shoes, sports sandals, beer...

As a major contributor to the province's industrial growth, in the first 5 months of 2024, Thanh Hoa's textile and garment industry's production activities have improved significantly as orders returned in large numbers. Of which, the textile industry's output increased by 16%; garment industry increased by 7.6%. The above results were achieved thanks to businesses proactively restructuring production, reducing costs, and flexibly searching for markets. Up to this point, most textile and garment enterprises have had enough orders until the end of the second quarter of 2024 and are accelerating production, seeking new orders, creating momentum for growth throughout 2024.

Along with garment, the petrochemical industry also grew impressively, typically: Products such as engine gasoline increased by 24.3%; fuel oil increased by 135.5%; paraffin wax increased by nearly 89%... were important driving forces that brought the industrial production index in May up 5.11% compared to the previous month, up 10.89% compared to the same period.

According to the Department of Industry and Trade, the steady growth of key industries is the driving force for the industrial production index of the whole industry in the first 5 months of the year to grow by 15.57% over the same period; the export value of goods reached over 2.3 billion USD, up 21.9% over the same period and reaching 38.9% of the yearly plan. The above positive signals predict that the target of increasing the industrial production index by 14.9% or more in 2024 is well-founded.

According to the Department of Industry and Trade, in order to strive to achieve the highest industrial growth target, the department will regularly monitor and grasp the situation, focus on removing difficulties and obstacles, creating favorable conditions for industrial production establishments to maintain stable operations and maximize capacity; create all conditions to accelerate the progress of industrial projects to put them into operation soon, creating more production capacity for the economy. Along with that, the unit will focus on solutions and implement policies to encourage strong development of industry in rural areas, especially agricultural processing industry, production of equipment, machinery, materials, animal feed, fertilizers for agriculture; develop small-scale industry associated with restoring traditional occupations and cultivating new occupations with good and sustainable consumption markets; implement industrial promotion programs to promote support for enterprises to apply scientific and technological advances in production and participate in value chains to form supply chains and consume products.

However, forecasts show that the international commodity market will grow in the coming time but not strongly. Political conflicts and economic inflation will still have a negative impact on domestic industrial production activities. Therefore, businesses need to continue to closely monitor market developments to develop appropriate production and business plans. At the same time, proactively reduce production costs, reduce prices, promote trade promotion activities and flexibly use sales methods to increase sales and product competitiveness in the market.

Article and photos: Bach Nguyen

Source: https://baothanhhoa.vn/giu-vung-da-tang-truong-cong-nghiep-217114.htm