Goods consumption in big markets such as the US and the EU is showing brighter signs, creating a driving force for orders for Vietnamese key exports such as garment and textile, packaging, footwear, wood processing, and particularly electronics, with many enterprises have received orders until mid-year.

ABB Harvest packaging Co. Ltd. said that 400 workers have returned to their factory to meet orders for the second and third quarters of this year. The company can fulfill orders that need to be delivered in March and April.

Besides, many enterprises have proactively invested and upgraded manufacturing equipment to meet increasing demands.

In late 2023, Duc Giang Garment Corporation (Ducgarco) perfected an innovation creative centre with adequate processes from designing, sewing, marketing, and training, among others, to better serve customers.

Phu Cuong Spinning Mill Factory has implemented restructuring, conversion, and upgrading of equipment in an attempt to improve productivity and competitiveness.

According to statistics from the Vietnam Customs, from the beginning of this year to February 15, the total country’s trade value reached 84.74 billion USD, of which exports accounted for 44.42 billion USD, an expansion of 19.6% year on year.

In a recent report of VinaCapital, exports in the first month of 2024 are estimated at 33.57 billion USD, a soar of 42% compared to the same period last year. Notably, the export turnover of computers and electronics rose by 60% year on year.

Minister of Industry and Trade Nguyen Hong Dien acknowledged that industrial production and trade are experiencing an upward trend, but there are still challenges ahead caused by the world’s economic and political situations, which are difficult to forecast.

The minister requested relevant units under the ministry to instruct and support enterprises to catch up with market trends, effectively taking advantages of free trade agreements to which Vietnam is a signatory.

VNA