Industrial production to overcome the pandemic and regain its momentum
10:54 06/01/2021
In the second half of 2019, in Bac Ninh, there are more projects such as: GoeTek, Hanwha Techwin Security ... going into stable production, contributing great value to the electronics industry. Along with the recovery of Samsung and the strong growth of many key projects in concentrated industrial zones, the indicators of industrial production value, export revenue of Bac Ninh have increased compared to 2019.

However, the situation has not been improved for long, when in early 2020, COVID-19 epidemic broke out globally, affecting not only the Samsung Group's production and business but also the entire industry in the province. Difficulty in circulation affects production, the fact that people limit spending to overcome the consequences of epidemics also have a great impact on the purchasing power of the international market in general and the consumer electronics market in particular. .

In the first quarter, industrial production still maintained growth momentum from the end of 2019, so the value reached more than 300 trillion dong, on average, each month reached about 100 trillion dong. By the second quarter, due to the impact of the COVID-19 epidemic, industrial production value dropped sharply from April, in April it was only over 71 trillion dong, in May reached 75.2 trillion dong, 98.4 trillion dong (average monthly in the second quarter is just over 81 trillion dong).

With many positive support measures from the Government, ministries, central agencies, Bac Ninh effectively implemented "dual tasks", drastically preventing and combating epidemics, and maintaining and developing economic activities. - Society, ensuring people's life stability. The province drastically directs solutions to solving difficulties for businesses, facilitating access to capital, credit, finance, tax, commerce, electronic payment, and shortening the time to review loan applications. Tax, fee and fee reduction, registration tax reduction for domestically manufactured and assembled cars, the extended tax amount is estimated at about 2,440 billion VND; the amount of taxes, fees and charges has been reduced by more than 230 billion dong, creating conditions for industrial production in the province to grow again from the beginning of the third quarter, averagely it reached more than 120 trillion dong per month.

Specifically, Samsung Electronics Company (SEV) is a unit that accounts for a high proportion in the provincial industry, the lowest revenue in April only reached 713 million USD, but started to increase sharply from July with the results. reached 1,484 billion USD, in August was 2.073 billion USD, in September more than 2.5 billion USD (due to the launch of new product duo Galaxy Note 20 and Note 20 Ultra 5G, Galaxy Tab S7 and Tab S7 + tablets, earphones wireless Galaxy Buds Live, Galaxy Watch 3 watch… were well received by the market).

For Samsung Display Company (SDV) in the first quarter, the average export value is approximately from 1.14 to 1.2 billion USD, but in April it dropped to only 758 million USD, low value. most falling in May reached 705 million USD. But started to increase strongly again since July when the demand for screens of partners SEV, Apple increased to launch new products in late August and early September. Therefore, August export sales of SDV reached nearly 1.25 billion USD.  Over the past 9 months, in the concentrated industrial zones, there are 175 projects in operation, bringing the total number of projects in operation up to now is 1,000 projects and bringing industrial production value to about 850 trillion dong. The production of important products increases gradually compared to the middle of the year such as: Electronic components, smart watches ... The total import and export turnover increased corresponding to the same period from 6.8% to 9.1%. Along with the production recovery of enterprises, the province actively prepares conditions to take advantage of "golden" opportunities to welcome a new wave of investment with quality FDI inflows. Promote the implementation of online public services at level 3, 4, well implement the "4 in place" mechanism in business registration. As a result, in 9 months, Bac Ninh Industrial Park attracted 85 investment projects with a total registered investment capital of 409.59 million USD (65 FDI ​​projects, capital 317.97 million USD; 20 domestic projects with capital of 91, 62 million USD). Granted 325 times of investment certificates adjusted for 269 FDI projects and 56 domestic projects. The total newly and adjusted investment capital in 9 months is 768.14 million USD.

Although the production and business situation of enterprises decreased since the end of the first quarter due to the impact of the COVID-19 epidemic that broke the global supply chains, but with efforts, support, stimulus, and conditions of the Government and the province, production and business of the Samsung Complex and businesses soon overcame difficulties and regained growth, contributing to increasing industrial production value as well as export value of Bac Ninh At the end of the year, to compensate for the shortage in the second quarter. With that foundation, it is expected that industrial production of the whole province will overcome the "epidemic" to regain the growth momentum and achieve the plan by 2020, which is the industrial production value of VND 1,139.8 trillion./.

Source: Translated by Nguyen Mai Huong, Chief of Office, Bac Ninh IZA
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