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Final stage: Supporting businesses to improve their competitiveness

International economic integration is both a requirement of reality and an inevitable trend of the globalization era. Therefore, in addition to creating a favorable environment for people and businesses to integrate, Thai Binh province also implements many mechanisms and policies to promote the fast and effective international economic integration process.

Workers of Toyoda Gosei Hai Phong - Thai Binh Company (Tien Hai industrial park) wear masks and keep a safe distance according to the instructions of the Health sector when working.

The US is one of the most difficult markets in the world because of many very strict regulations on standards of imported goods and trade barriers. Therefore, although this is a potential market, many businesses have not been able to access and exploit it. As one of 15 enterprises in the province with goods exported to the US market, Truong Son Thinh Textile and Garment Co., Ltd (Me Linh industrial cluster, Dong Hung district) is really a very dynamic enterprise. Although facing difficulties due to the impact of the Covid-19 epidemic, production and export activities of the Company remained stable. Particularly in the first quarter of this year, the Company's export turnover reached 630,000 USD, increasing more than 10% over the same period in 2020.

Mr. Vu Duy Han, General Director of the company said: In order to penetrate into the US market, enterprises must have a brand, the competitiveness of enterprises as well as the competitiveness of products must be strong enough. Besides, it is also very important to study US tastes, consumption habits, and technical barriers in trade. These things, we have been greatly supported by departments and branches of the province in the past time, so we can promote the advantages of enterprises.

Not only Truong Son Thinh Textile and Garment Co., Ltd., businesses in the province are supported by departments and sectors to improve competitiveness at enterprise and product level.

Mr. Tran Huy Quan, Director of the Department of Industry and Trade - the standing agency of the Provincial Board of International Economic Integration, said: In 2020 alone, functional departments and branches of the province have organized dozens of conferences and seminars, professional training to support enterprises on improving management capacity, accessing foreign markets, disseminating rules of origin, propagating and disseminating new-generation free trade agreements and declaration training in dossiers of application for C/O for exporting enterprises; building and applying ISO, digital transformation in enterprises... In addition, functional departments and branches also support and sponsor enterprises in research and application of scientific and technological advances; implementing the project to improve the productivity and quality of products and goods of Thai Binh enterprises in the period of 2014 - 2020.

Lien Hanh Co., Ltd (industrial cluster of Vu Thu town) invests in technological innovation, automatic machinery for production to catch up with the trend of international economic integration.

Synchronously developing the elements of the market economy

To help enterprises develop production and business effectively and participate in international economic integration, the province synchronously develops elements of the market economy: consumer goods market, service market, financial - capital market, real estate market, labor market, logistics market and other service markets.

Up to now, the province has 26 banks, 8 district branches, 93 transaction offices, 45 people's credit funds, 285 transaction points of the Bank for Social Policies and 1 stock exchange to meet demand of finance and capital for production, business, import and export activities of people and enterprises. The State Bank of Vietnam's provincial branch directs commercial banks to assist businesses in accessing capital and lending to overcome difficulties caused by the Covid-19 epidemic. By the end of 2020, the total outstanding loans to the economy of credit institutions in the area reached VND 64,445 billion.

Training, developing human resources, promoting investment attraction

In the past 5 years, the province's employment program has been implemented effectively, contributing to the development of quality human resources for the integration process. Particularly in 2020, the whole province will recruit 35,100 vocational training students; the rate of trained workers reached 56.5%. The Provincial People's Committee directs departments, branches, units, localities and businesses to well implement the provisions of the law on labor, solutions to develop subjects participating in social insurance and unemployment insurance. The Department of Labor - Invalids and Social Affairs has established and maintained a job exchange.

Mr. Le Van Con, Director of Thai Binh Employment Service Center said: The job exchange floor of the Center has well connected the recruitment needs of businesses with the employment needs of workers. Based on the needs of businesses, we advise the Department of Labor, War Invalids and Social Affairs to have a plan to train human resources to meet recruitment requirements and avoid redundancy. In 2020, the province created new jobs for 32,600 workers.

In addition to publicizing the planning and list of prioritized projects to attract investment, the Provincial People's Committee has issued a number of preferential mechanisms and policies to attract investment for enterprises with projects in Thai Binh Economic Zone, industrial parks and clusters. This is really a push to create a wave of investment in the province, including large economic groups that have been researching and investing in Thai Binh.

Mr. Pham Tung Lam, Head of the Provincial Management Board of Economic Zones and Industrial Parks, said: "Large enterprises operating in industrial zones and clusters means bringing to Thai Binh new and progressive governance models, technical training in production, business and investment cooperation opportunities for enterprises in the province, creating production chains and value chains that are competitive in the domestic and international markets.

In 2020 and the first 4 months of 2021, the province has attracted 48 investment projects in the industrial sector with a total newly registered capital and an increase of nearly 7,000 billion VND; The Department of Agriculture and Rural Development coordinated with the Provincial Business Association and the Department of Planning and Investment to promote investment, attracting many large investment projects in the field of farming, processing agricultural products and food which were promoted production and business in the area.

Production at Thai Binh Petroleum Services Joint Stock Company.

Enjoying the achievements of integration

The work of international economic integration has been effectively implemented, contributing to maintaining the province's economic growth rate next year higher than the previous year. Even in the context of the global economy being affected by the Covid-19 epidemic, in 2020, the province's gross domestic product (GRDP) still increased by 3.23%; total production value increased by 1.8% compared to 2019. In the first 4 months of 2021, the industrial production index of the province is estimated to increase by 12.38%; industrial production value was estimated at 23,511 billion dong, increasing by 9.6%; export turnover is estimated at over US$509 million, increasing by 16.6% over the same period in 2020. These results show that the province's economy is developing on a sustainable basis for long-term progress and integration, international economic success in the near future.


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