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Industry leaders bounce back from global economic crisis
Representatives of businesses and the HCM City Department of Industry and Trade spoke to Sai Gon Giai Phong (Liberated Sai Gon) newspaper about the need for enterprises to restructure production.
Department Director Nguyen Van Lai:
The sector has recovered fast after the crisis last year thanks to a synchronised stimulus package and Government policies. Industrial production continued to increase and last year HCM City had the sixth highest industrial growth rate of all localities, reaching VND182 trillion (US$9.5 billion). This accounted for 42 percent of the industrial production of the southern key zone and 27 percent of industrial production values nationwide.
This year, economists predict further difficulties for the sector. For HCM City industry, commerce and exports to meet targets, we need to work with enterprises to solve their difficulties and barriers, to develop production and encourage Vietnamese to use local products.
Enterprises should not rely on the stimulus package but should invest in modern facilities and sustainable development.
Sai Gon Transportation Mechanical Corporation CEO Nguyen Tien Dung:
Though the crisis drastically reduced our production and business last year, we analysed the situation and quickly made plans for intensive development, expanding our domestic market as well as moving to export our products
This year we predict further difficulties and challenges, but we still plan to grow by 10 per cent, invest intensively in our markets – especially foreign markets – and export specialised cars to countries in our region.
We will also carry out the Suoi Tien Bus Station project, worth US$125 million spanning 12.5km in HCM City's District 9 and concentrate on training our staff.
Meanwhile, Government and local authorities should pay more attention to enterprises which support them by preserving foreign currency. And HCM City should restructure its transportation network to encourage the use of small cars to reduce traffic jams.
Wooden Furniture Exporter Satimex co-director Bui Ngoc Quoi:
Our enterprise keeps on restructuring. In the first months of this year, we faced lower demand and price reductions, because of the crisis, while production and salary costs increased.
We focused on restructuring the production line, including installing more modern, efficient machines and co-operated closely with customers and providers.
Meanwhile, we propose to draw up a clear and detailed development plan, so our staff know what's happening and how to help make it happen.
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