From production to integration - mark of private economy

The private economy is becoming an important driving force for socio-economic development, actively contributing to the budget, creating jobs, promoting internal strength, and fostering the locality's deep integration into the international economy.

The private economy creates jobs for many local workers. Illustration photo: Hien Luong

On the development journey of Dong Nai province, private enterprises are continuously adding bright colors to the economic picture, making worthy contributions to the overall prosperity of the province.

Private economy - a lever for development

Our Party identifies the private economy as one of the important driving forces of the economy. In Dong Nai, one of the localities with a dynamic investment environment nationwide, the private economy has affirmed its position as an important force in the province's socio-economic development. The private economy contributes to reducing the unemployment rate, economic growth, and improving people's lives.

 Dong Nai currently has over 69 thousand registered businesses with a total capital of over 750 trillion VND. The private enterprise sector is creating significant added value and providing jobs for many workers, becoming the main driving force for the locality's economic growth and social development.

Not only developing in scale, the private economy in Dong Nai but also demonstrates a spirit of self-reliance, self-improvement, a legitimate desire to get rich, and contribute to the community. Currently, Dong Nai has 52 industrial parks with a total area of about 17,500 hectares; among them, 45 industrial parks have active projects.

Niikawa Kiyoshi, Director of Megatec Co., Ltd., said: "Our company has been operating in Chon Thanh 1 Industrial Park for 17 years. I find the investment environment here very favorable, and the authorities always create conditions to support businesses to develop. Life here is great, and the people are friendly."

Pham Tien Thuat, Director of Kim Tin MDF Joint Stock Company, located in Dong Phu commune, specializing in manufacturing and trading wood products, especially MDF boards and other industrial boards, said: "The companionship of the locality has created mechanisms and guided businesses to always comply with the legal framework and standardize business operations. The accompanying policies as well as administrative procedures have helped businesses stand firm during difficult times."

Along with attractive investment attraction policies, Dong Nai also promotes trade promotion and supply-demand connection to expand market participation and promote fair competition among economic sectors.

The transportation infrastructure system, invested in a modern and synchronous direction, is expected to create new momentum for Dong Nai's development in the coming time. Expressways, seaports, and airports that have been and are being completed will help remove traffic "bottlenecks"; at the same time, they will create new "runways" for the province to achieve its goal of "taking off" in development. Among them, key traffic routes and provincial roads, district roads, and inter-commune roads have been asphalted. The province is coordinating with ministries, sectors, and localities in the region to gradually complete some key regional connectivity projects, such as: Bien Hoa - Vung Tau Expressway Project, Ring Road 3 - Ho Chi Minh City, Ben Luc - Long Thanh Expressway, Gia Nghia - Chon Thanh Expressway, Ho Chi Minh City - Chon Thanh Expressway... At the same time, industrial infrastructure, industrial clusters, irrigation... are being completed to create momentum for the private economy to develop more strongly.

Stories from reality

Hung Nhon Group Joint Stock Company in Thuan Loi commune is a leading agricultural group in Vietnam. From a small-scale chicken farm, raising chickens as a household in the 2000s, Hung Nhon has now become a large group, affirming the strength of the private economy. The group currently owns 16 member companies with about 1,000 hectares of farms in the Southeast and Central Highlands regions. Among them, the company's broiler farm system alone supplies more than 3 million chickens/year to the market, and the laying hen farm system supplies more than 130 million eggs/year. In addition, the group also has farms raising 14,000 breeding pigs and 375,000 commercial pigs/year.

For over 30 years, from a country that exported a small quantity of raw cashews, Vietnam has become the world's leading exporter of cashew kernels. From 2006 until now, Vietnam's cashew industry has consistently maintained its No. 1 position in the world for cashew kernel exports. The presence of Dong Nai cashews has contributed to bringing Vietnamese cashews to over 100 countries and territories worldwide.

With its position as the "cashew capital" of the country, Dong Nai currently has about 200,000 hectares of cashews and hundreds of private cashew processing enterprises and facilities operating day and night. These enterprises not only create jobs for thousands of local laborers but also play a leading role in linking farmers in the sustainable cashew production value chain. The private economic sector in the cashew industry not only brings in a large source of foreign currency for the locality but also contributes to affirming the reputation of Vietnamese agricultural products in the international market.

Truong Giang Phat One Member Co., Ltd. in Long Binh Ward specializes in producing, processing, and trading fresh, clean, and high-quality pork products, serving for community health. The company has invested in many modern equipment such as cold storage, cutting machines, and meat grinders imported from famous and reputable brands worldwide with the desire to provide the market with cool, delicious, quality meat products at reasonable prices. On average, the company produces about 1,800 tons of pork per year, distributed widely in many large supermarket chains nationwide.

"For private companies to develop, we hope the province will have more practical mechanisms, such as a fund to support the development of private enterprises, shorten licensing times, and support innovation. Enterprises are very eager to accompany the province's development," said Vu Van Tu, Director of Truong Giang Phat One Member Co., Ltd.

Reported by Hien Luong