Nam Dinh Export effectively exploits the market recovery

With the recovery of the world market and increased export orders, our province’s export activities in the first quarter of 2024 have had positive developments. In the last months of the year, the province’s export activities are forecast to have a breakthrough, so businesses continue to make efforts to approach, conserve, and promptly exploit all export opportunities.

Effectively exploit the market recovery

In the first 3 months of the year, the export turnover of goods reached 630 million USD, up 22% over the same period in 2023, of which: the State sector reached 8 million USD, down 19.8%; Non-state sector reached 171 million USD, up 21%; The foreign investment sector reached 451 million USD, an increase of 23.5%. The main export products are garments, footwear, and forest products. Compared to 2023, a year with many difficulties and a relatively large decrease in import-export turnover, up to now, our province’s production and export has recovered quite well.
According to Director of the Department of Industry and Trade Vu Thi Kim, through a survey to grasp the industry’s situation, it shows that in the group of large enterprises, manufacturing enterprises in key industry groups of the province have stabilized, recovered, and even increased. increase orders and number of new partners; The remaining group of businesses all strive to exploit and access diverse markets to develop orders. In general, the vast majority of businesses have increased orders, although some businesses do not have too many large orders but ensure long-term orders, at least they have signed contracts to supply products to partners. abroad until the end of the fourth quarter of 2024.

The positive results achieved in commodity exports in the first quarter of 2024 are explained by the functional sectors due to: The Government’s efforts in developing export market diversification, especially upgrading Relations with major trading partners such as the US, China, Japan… help strengthen the confidence in the business environment of many investors around the world. Nam Dinh is located in the center of the Southern Red River Delta, has the ability to connect quickly and widely to many localities in Vietnam, and has many advantages when FDI enterprises shift the investment wave to our country. to exploit advantages from Free Trade Agreements (FTAs) that Vietnam participates in. In the recent period, Nam Dinh has also actively attracted investment to receive the wave of shifting supply chains from China. The results of attracting FDI investment into Nam Dinh in 2023 increase, thereby creating a better production foundation; Currently, there are initial steps for new results when foreign businesses complete the construction of factories, go into production, and have goods for export. Besides, the world market context is recovering, gradually shifting to a new state, adapting to major fluctuations in 2022 and 2023. In important markets of the vast majority of export enterprises, Nam Dinh province’s exporters such as the US, EU, Japan… are increasing moves to stimulate consumer demand again, expanding demand for imported goods. In particular, the capacity of the province’s export enterprises is increasingly improved, increasing their ability to cope with unusual market situations and developments. On the other hand, the province’s businesses also have a deeper grasp of the requirements and regulations of export markets; make efforts to approach, conserve, and promptly exploit all export opportunities; Focus on increasing growth in key and traditional markets, especially the European market, and promote the development of niche and potential markets.

It is forecasted that commodity exports will continue to surge

Comrade Nguyen Van Ty, Director of the Provincial Statistics Department, said: There are many signs that the province’s commodity export sector continues its recovery trend, and will even make a breakthrough. Import turnover of goods in the first 3 months of the year reached 364 million USD, up 17.4% over the same period in 2023; The trade balance of goods had a surplus of 266 million USD. Imported goods are mainly raw materials for production and processing such as garment raw materials, leather and related products, cotton, fibers, and textile fibers; are all raw materials for the production of the province’s main export products. The results of importing goods and raw materials in the first quarter promise that the province’s production and export results in the following months will continue to increase, reaching higher values. In particular, the group of processing and manufacturing enterprises in the province shows that 68.57% of enterprises forecast that production volume in the second quarter of 2024 will increase, 25.72% of enterprises in the province forecast that production volume will remain unchanged. compared to the first quarter of 2024. Notably, with the new group of FDI projects investing in the province, there will gradually be more large enterprises in high-value product groups such as electronics, computers and components; machinery, equipment, tools and spare parts… when the factory goes into production in the second quarter or the last months of 2024. This continues to be a source of products that contributes to increasing the efficiency of the province’s export of goods.

In order to effectively exploit the consumption recovery of the current world market, functional branches and localities of the province continue to apply active solutions to support businesses to better expand production and promote production. Trade and consumption of products are favorable. This will promote dissemination so that businesses can take full advantage of incentives from signed and implemented FTAs; innovate trade promotion activities, helping businesses open up the export of goods; simplify import and export procedures… To make the most of opportunities in exporting goods, currently, businesses in all industries in the province share the same opinion: Continue efforts to innovate production activities. , improve product quality and ensure production plans and programs closely follow consumer demand; Focus on researching, updating new technology, promoting automation to reduce product costs…

According to a representative of Bao Linh Joint Stock Company (Y Yen), with 15 years of development experience, the Company has now expanded its production scale with 6 factories producing garments and labor protection uniforms in Vietnam. communes of Yen Hong, Yen Binh, Yen Thanh, Yen Quang (Y Yen), Minh Tan (Vu Ban). Besides the domestic market, the Company’s products are exported mainly to Japan and Korea. Even in a period when many businesses in the same industry are having difficulty selling products in foreign markets, the Company’s export output remains relatively stable, currently continuing to increase due to increasing consumer demand. gradually. The positive signs of the export market help the Company increase its confidence and be more steadfast in continuing to exploit and promote core factors such as taking advantage of the operating efficiency of many factories at the same time. Helps resolve effectively, even “speedily”, contracts with short delivery deadlines, large orders, which arise unexpectedly according to the needs of partners; accept reduced profits to accept even small orders. In particular, the Company focuses on improving and upgrading production factories with advanced and modern systems; Apply and ensure to maintain high standards in production such as WRAP, AMAZON, SMETA, 2P, OCS/RCS certifications; Pay attention to training, fostering, and improving professional qualifications to maintain a team of experienced, intelligent, hard-working, and responsible officials and workers with a professional working style and always maintain integrity. top credit.

By increasing solutions and focusing on effectively exploiting the market recovery, functional sectors and businesses of the province are making efforts towards the 2024 export turnover target of 3.3 billion USD. ./.

Article and photos: Thanh Thuy