Optimism on economic recovery in Dong Nai

Dong Nai’s industrial production showed signs of recovery in the second quarter of this year and its industrial production growth accelerated in the fourth quarter.

Dong Nai’s industrial production showed signs of recovery in the second quarter of this year and its industrial production growth accelerated in the fourth quarter. Local enterprises are optimistic about the out- look for Dong Nai’s economy next year.

The province’s industrial production seen speed up

Dong Nai’s wood processing sector was among those experiencing difficulties early this year due to the global economic slowdown but the sector is now showing signs of recovery. Hoa Binh Wood Joint Stock is a typical example. Hoa Binh’s export turnover is expected to reach about US$ 20 million in 2009. Its products are exported to Britain, the US, Italy and Japan. Hoa Binh has won orders that ensure enough work for the company for the whole year of 2010. Apart from this sector, the industries are gearing up their production capacity in the remaining months of the year to meet the demand. Tien Len Steel Group Joint Stock Co, along with others in the province, is speeding up its production as fast as possible. Tien Len Group expects to rake in around US$10 million in exports this year. General Director of Tien Len Group Nguyen Manh Ha said that the Group plans to recruit an additional 300 workers by 2010 to accommodate for the growing production volumes.

Manufacturing building materials at Dong Tien Joint Stock company

Dong Nai Long Chau Co Ltd, which specialises in cattle, poultry and fishery feed production, is planning to expand export markets to

Cambodia

and some countries in the Southeast Asia.

Industry shows positive signs

Many garment companies have won contracts that ensure enough work for the full year of 2010. This is a very positive signal for the province’s garment and textile industry. Dong Nai Garment Joint Stock Company (Donagamex) is an example. Donagamex aims to earn VND 550 billion in revenues in 2010, VND 100 billion higher than that of 2009. Of this figure, about US$ 30 million is to come from exports. Presently, a new facility is under construction and is expected to be put into operation in the first quarter of 2010. Once operational, the new facility will employ about 1,000 workers. Donagamex announced that it will spend about VND 50 billion to expand its production capacity in 2010.

A factory of Dong Nai Garment Joint Stock Company (Donagamex)

The overall industrial operation goes towards a positive direction because the industrial economy demonstrated an active change of stopping dropping and going upward in the last quarter of this year. Local companies are increasingly confident about the provinces economic outlook in 2010.

Reported by Khac Gioi – Vi Lam