Binh Duong received many export orders at the end of the year

	International intermodal train service to transport goods from Song Than Station to China launched
	Binh Duong’s key exports lack orders

Many businesses are speeding up export orders at the end of the year. Photo: provided by enterprise

Export of goods are improved

The warming global market is the driving force for export activities in Binh Duong to improve significantly in the last months of the year. Data reported by the People's Committee of Binh Duong province shows that export turnover reached nearly US$ 2.8 billion in October, up 20% over the previous month and up 10.1% over the same period. The trade balance maintained a trade surplus of over US$ 7.17 billion in the first 10 months of 2023.

The most typical is the wooden furniture manufacturing and processing industry, currently accounting for nearly 18% of the province's export share. As one of the businesses on the recovery momentum, Lam Viet Joint Stock Company (Tan Uyen City) has received orders from foreign customers, serving Christmas and New Year 2024.

Sharing with reporters, Mr. Nguyen Liem, General Director of Lam Viet Joint Stock Company, Chairman of Binh Duong Wood Processing Association, said that the reopening of the US and European markets was an opportunity for the wood industry to expand the market after difficult times. The business's operations were better, because wooden furniture products had reconnected with some traditional markets such as the US and the European Union. Along with hunting for new markets, the company had more orders for export by the end of 2023.

Similarly, Ms. Pham Thi Mai Lan, Deputy General Director of Kettle Interiors Asia Company (Tan Uyen City, Binh Duong) said that orders were gradually recovering due to the recovery of the US and European markets, and an increase of the shopping demand at the end of the year, so the company were trying their best to secure orders. In 2023, Kettle Interiors Asia Company's revenue was expected to reach about 70% of 2022. The company expected a brighter market in 2024.

With positive signs, many businesses have actively recruited human resources, focusing on boosting production to take advantage of the year-end business season. According to records, in industrial parks such as Dong An, VSIP, and Song Than, many businesses have posted recruitment signs, and there have even been scenes where the human resources department went to the gate to quickly recruit workers, with income ranging from VND 7-15 million/person/month. Typically, Leading Star Vietnam Garment Joint Stock Company needs to recruit 1,000 sewing and goods checking workers, with priority given to those with experience.

CEO of TBS Logistics Company Le Manh Ha said that the number of goods into warehouses had begun to increase. This as a good sign for production activities and economic growth. The demand for goods consumption which was forecasted increase in at the end of the year would open up hope of promoting production as well as contributing to the growth of the logistics service industry in the coming time.

There are still many difficulties ahead

Although the export situation of some industry groups has improved, some industry groups still face many difficulties and challenges. Mr. Nguyen Liem said that the challenge of businesses was to explain the legal origin of wood and forest products according to EU regulations on carbon border adjustment mechanism, Anti-deforestation Law... Accordingly, in order to support businesses in promoting the export of forest products to the European market, industries and levels should support the legal basis for tracing the origin of forest products, developing legal raw material sources and promoting commerce. Binh Duong Wood Processing Association should regularly update member businesses with the latest legal regulations to facilitate production and market development.

Ms. Nguyen Thanh Ha, Deputy Director of the Department of Industry and Trade of Binh Duong province, said that Binh Duong was in the group of provinces and cities with the largest export turnover in the country, so it was deeply affected by the global economic growth slowdown, market fluctuations and policy adjustments of major economies. In the period 2021-2023, the province's export growth was unstable, tending to gradually decrease in the period from mid-2022 to 2023 due to lack of export orders.

To support businesses and regain the momentum of recovery and growth for export activities, functional branches of Binh Duong province have focused on many solutions to support import and export, continuing to promote the role of connecting with system of Vietnamese trade agencies abroad, supporting associations and businesses to effectively exploit signed free trade agreements to expand and diversify markets and expand supply chains and export products.

To promote export activities, Deputy Director of Binh Duong Customs Department Nguyen Thanh Binh said that the unit was implementing many solutions to facilitate businesses through promoting reform, modernization, and shortening the time and cost of customs clearance procedures.

In addition, businesses in Binh Duong province are trying to find orders through organizing fairs and exhibitions at home and abroad, and promoting into new markets such as the Middle East.