Southeastern region strives to develop private sector

The southeastern region currently has more than 50,000 private enterprises with a combined registered capital of around VND130,000 billion. One prominent feature of private enterprises in the southeastern region is their enterprising spirit and pursuit of commodity production in all fields.

In 2005, the production value of Ho Chi Minh City reached nearly VND39,000 billion, a year-on-year increase of 15 percent. The figure in Binh Duong was VND9,800 billion, (up 17 percent) and Dong Nai, more than VND5,800 billion, (up nearly 18 percent). The production value of these three localities accounted for most of the total southeastern region’s value and made great contributions to regional growth.

Ho Chi Minh City leads the country in private enterprise development. Last year, the city completed a training programme for 1,000 directors and invested VND14 billion in researching and manufacturing supporting equipment. The city also helped enterprises apply measures to improve quality and productivity, such as an international management system or energy savings. Online registering was also applied, attracting great attention from enterprises.

In recent years, southeastern provinces and cities have focused on developing private enterprises instead of establishing State-owned enterprises. The private sector’s annual growth stands at nearly 24 percent and accounts for one-fourth of the total regional industrial production value, demonstrating that citizens’ strength and potential are being fully exploited.

One prominent feature of private enterprises in the southeastern region is their enterprising spirit and pursuit of commodity production in all fields. In recent times, the scale and production efficiency of some private enterprises has been the same as enterprises in other economic sectors.

For example, 12 years ago Hung Dai Duong Company realised that demand for granite was increasing while its import price was high. The owner spent a lot of time researching before deciding to invest VND50 billion in building a granite production factory. His products are the same quality as imported products while their prices are 30-40 percent lower. Thanks to the successful operation, the company established several other factories in the central and northern regions with a combined investment capital of nearly VND200 billion. The company earns around US$2.5 million from exports annually.

For Dona Biti Company, success has come from a comprehensive training programme for its nearly 4,000 labourers. The company’s officials and workers are regularly trained at a cost of dozens of billions of Vietnamese dong. The company always strives to product high-quality and competitive products. 

The private economic sector in the southeastern region is bringing to its strength in the integration process, particularly in term of human resources, in order to promote production and improve the region’s competitive efficiency.

(Source: VOV)