Binh Duong export growth hopes to bounce back

VCN - Thanks to positive signals from the recovery of export orders, Binh Duong is expected to regain growth momentum in 2024.
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Production activities at Tin An Investment Company. Photo: T.D
Production activities at Tin An Investment Company. Photo: T.D

Efforts to maintain the market

The export growth has always been a bright spot in the economic picture of Binh Duong. Particularly, in 2023, amid general difficulties, Binh Duong's trade surplus reached nearly 9 billion USD, ranking 3rd in the country. Entering 2024, Binh Duong sets a target of increasing export turnover by 9.5% over the same period.

A report from the Binh Duong Statistics Department shows that in January 2024, the trade surplus continued to be maintained at 0.9 billion USD. Specifically, total import-export turnover reached 4.5 billion USD, of which export turnover reached 2.7 billion USD, up 44% year on year. Some major export items witnessed outburst such as: wood and wood products by 205.3%; iron and steel and iron and steel products by 162.3%; handbags, leather wallets, backpacks, hats, umbrellas by 161.2%; footwear of all kinds by 127.9%; Textiles and garments by 126.4% year on year

Having just completed export procedures for orders on the first day of the New Year at Thu Dau Mot Customs Branch, Mr. Bui Thanh Phong, in charge of import-export department, Tin An Investment Joint Stock Company, excitedly said, on average, about 180 import and export declarations with 300 containers of goods are carried out by the company. Currently, the business has many long-term orders in 2024. In the coming time, the business will import more machinery, equipment and raw materials to serve production for these orders. Enterprises wish to continue to be facilitated and supported from Binh Duong Customs Department and Thu Dau Customs Branch in their business activities.

Wood and wood products are one of Binh Duong's main export products and are currently recording a strong recovery in orders. Sharing joy in the New Year, Ms. Duong Thi Tu Trinh, Deputy Director of Duc Thien Co., Ltd. said that the company has resumed production activities and increased labor recruitment in the last months of the year. Currently, the business has enough orders until the end of the first quarter of 2024, ensuring jobs for workers and exporting about 100 containers of goods/month.

Mr. Huynh Quang Thanh, General Director of Hiep Long Company evaluated the positive signal of wood export growth in the fourth quarter of 2023. Therefore, in 2024, Vietnam's wood exports may bear potential to achieve better growth than in 2023 along with the recovery momentum of the world economy. However, export businesses still face challenges due to the sluggish export market growth and the socio-economic fluctuation. In addition, exporting is becoming more and more difficult due to increasingly strict product production standards in other countries, requiring businesses to adapt.

Diversify import and export methods

According to Binh Duong Customs Department, in the province there are currently about 3,483 enterprises with regular import and export activities, ranking 4th in the country. The main export items are wood and wood products, textiles, machinery, equipment and spare parts...

To support businesses and regain the momentum of recovery and growth for export activities, currently the functional branches of Binh Duong province have focused on supporting import and export, associations and businesses to effectively exploit the signed free trade agreements and enable businesses to expand and diversify markets, ensure supply chains and export products.

In particular, the transport infrastructure serving the province's import-export activities is invested in a relatively synchronous and modern manner, connecting with major seaports through the road transport system and international river port (Binh Duong General Port). In particular, in order to promote import-export goods transported by rail, Vietnam Railway Corporation has coordinated with Binh Duong province to recognize Song Than station as an international intermodal station. After more than 3 months of operation, this new export and import method has brought efficiency in terms of safety, cost savings, and easy access to center industrial producers of goods and raw materials from China and third countries.

Deputy Director of Binh Duong Customs Department Nguyen Thanh Binh said that with the advantages of fast transportation, low price, and easy connection, Song Than international intermodal terminal is receiving the attention of many businesses. Moreover, import and export of goods promotion through Song Than international intermodal terminal have offered another effective method of transportation and benefit them in reducing costs, shortening goods delivery time and ensuring safety. Besides, direct transportation across the border no longer suffer from congestion at the border gate as being transported by road in the past, which bears economic value especially for agricultural products that requires short time delivery.

In addition, in 2024, Binh Duong Customs Department will continue to promote administrative procedure reform in the direction of simplicity, clarity, transparency, openness, convenience, uniformity and facilitating customers most. Besides, import-export activities are associated with strengthening discipline in performing public duties. The unit will set priorities for businesses with main revenue to carry out stable procedures at the branches and facilitate agents and customs clearance services...

By ​Thu Diu/ Thu Phuong

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