Creating new growth drivers for business development

Aiming for double-digit growth by 2025, the province continues to create a favorable business environment; promote the development of digital economy, green economy, and circular economy; expand and diversify import and export markets associated with improving product quality, participating more deeply in global supply chains for the business community, making an important contribution to the socio-economic development of the province.

In 2025, A My Industrial Joint Stock Company (Lap Thach) sets a growth target of 13%, of which export alone will grow by 14% compared to 2024. Photo: The Hung

In recent years, enterprises in the province have made remarkable progress in both quantity and quality. Currently, the province has more than 17,000 registered enterprises with a capital of more than 230 trillion VND, including more than 470 FDI enterprises, creating jobs and stable income for nearly 600,000 workers, making an important contribution to the total budget revenue of the province.

To support business development, the Provincial People's Committee has directed departments, branches and localities to promote administrative procedure reform (AP). From December 14, 2023 to December 14, 2024, the Chairman of the Provincial People's Committee signed 108 Decisions promulgating 854 APs, including adding 242 new APs, amending and supplementing 540 APs, and abolishing 134 APs.

The province has deployed a public service portal; the electronic one-stop information system has completed upgrading the connection function and synchronizing administrative procedure data between the National Public Service Portal and the provincial Public Service Portal to publicly post 1,859 administrative procedures.

Along with that, in 2024, credit institutions in the province will create conditions for more than 3,300 enterprises to borrow capital with outstanding loans of 59 trillion VND; exempt and reduce interest rates for 220 customers, lend to 40 new customers, outstanding loans reaching 400 billion VND... thereby helping the province maintain the top 10 localities with the highest domestic budget revenue in the country, up 3.9% compared to the ordinance estimate and equal to 101.5% compared to 2023. This is the driving force for enterprises to increasingly develop and expand their production scale.

In January 2025 alone, the labor utilization index of industrial enterprises in the province increased by 1.09% over the previous month and increased by 0.40% over the same period.

Export leather shoe production line at Vinh Yen Shoe Joint Stock Company. Photo: The Hung

In 2025, A My Industrial Joint Stock Company (Lap Thach) sets a growth target of 13%, of which, export growth alone will be 14% compared to 2024. To achieve this goal, the company continues to improve product quality, pioneer innovation, creativity, invest in technology, improve human resource capacity, improve service quality; expand the market and attract many strategic partners to contribute to enhancing the reputation of Vietnamese brands in the international market.

The company's representative said: Export markets have high demands for environmentally friendly products, so the company's entire brick production process is optimized to minimize emissions and energy consumption.

In particular, the technology of recycling raw materials and using renewable energy has been applied, bringing sustainable development in production. Thanks to that, the product is not only environmentally friendly but also ensures the safety of users' health.

This makes A My ceramic tiles the top choice for projects with high requirements for quality and green elements, while affirming its pioneering position in the construction materials industry. Currently, the company's products have been exported to more than 25 countries and are present in 63 provinces and cities nationwide.

Nearly 30 years of presence in Vinh Phuc, Honda Vietnam Company has continuously developed, becoming one of the leading enterprises in the field of motorcycle manufacturing and a prestigious automobile manufacturer in the Vietnamese market.

To contribute to the province's goal of achieving double-digit growth in 2025 and the following years, the Company continues to launch new vehicle models applying advanced technology to reduce emissions during use; expand research on the demand for electric vehicles through a cooperation project with Lotteria Vietnam and the University of Transport Technology; strengthen energy-saving activities and develop clean energy sources.

Along with that, the company maintains the operation of rooftop solar power systems at two factories in Vinh Phuc and Ha Nam with a total capacity of 8MWp, helping to reduce CO2 emissions into the environment. In 2024, Honda Vietnam's motorbike production output will increase by 21%, automobiles will increase by 17%; contributing more than 13 trillion VND to the provincial budget, an increase of 14%. The localization rate of motorbikes will reach 98%, and that of automobiles will reach 27%.

Currently, industrial production projects that have been put into production and business in previous years continue to maintain, increase output and expand investment, especially projects producing electronic components, automobiles, motorbikes, garments, construction materials (iron, steel, tiles, etc.), in which, it is expected that automobile output will increase by 6.6%, motorbikes will increase by 9.3%, tiles and electronic components revenue will increase by 2 times compared to 2024, etc., continuing to be key products, contributing positively to the province's economic growth in 2025.

Mai Lien

Source: https://baovinhphuc.com.vn/Multimedia/Images/Id/123689/Create-dynamic-environment-for-businesses-to-develop-new-development