Businesses join hands to achieve growth targets

FINAL PART: ADAPTING QUICKLY TO UNLOCK NEW GROWTH OPPORTUNITIES

As international integration deepens, Dong Nai City’s economy has become more directly affected by global fluctuations. In that context, enterprises are required to remain flexible and adapt quickly to maintain production and seize market opportunities. This proactive approach not only helps businesses overcome immediate challenges but also opens up new growth opportunities, contributing to the city’s goal of achieving double-digit growth.

FDI enterprises are seeking stronger cooperation with domestic businesses to raise localization rates. In the photo: Production activities at Action Composites Hightech Industries Co., Ltd. in Nhon Trach 3 Industrial Park (IP) – Phase 2.

Dong Nai currently exports to more than 180 countries and territories, with major markets including the United States, Japan, China, South Korea, and Europe. Against this backdrop, stronger linkages between domestic and foreign direct investment (FDI) enterprises, combined with efforts to capitalize on competitive advantages, increase localization rates, reduce costs, enhance product value, and participate more deeply in global supply chains, are expected to create a solid foundation for overcoming challenges and sustaining growth momentum.

Flexible solutions needed

In 2025 and the first four months of 2026, the city’s industrial production and exports continued to grow steadily, thanks to enterprises' flexible implementation of timely measures to stabilize production and business operations. In particular, linkages to form supply chains are no longer merely an option but have become an essential condition for businesses to stand firm and expand their markets.

As each link becomes more closely connected, Dong Nai City’s room for growth continues to expand, laying the groundwork for the locality’s double-digit growth target.

Dang Van Diem, Chairman of the Dong Nai Business Federation, said there remains significant room for local enterprises to participate in projects across various sectors, including industry, agriculture, real estate, trade and services, logistics, technical infrastructure, and tourism.

In supporting industries, local enterprises have opportunities to supply components and input products for FDI partners. However, domestic enterprises' participation in supply chains remains limited because many have yet to fully meet technical standards and production scale requirements.

Therefore, according to Diem, enterprises need to strengthen capacity through workforce training, investment in machinery, and the application of new technologies. At the same time, developing effective connection programs between domestic enterprises and the FDI sector is considered a key solution to help businesses participate more deeply in global supply chains.

The Dong Nai Business Federation will continue serving as a bridge to authorities to support enterprises in promptly resolving difficulties in production and business activities, while also organizing trade promotion programs to connect businesses and expand consumption markets.

In Dong Nai, many FDI enterprises still have to import between 70% and 90% of production materials. Therefore, FDI enterprises stated they are willing to place long-term orders if domestic suppliers can provide products that meet quality, quantity, and competitive pricing standards.

Bae In Han, General Director of Hyosung Dong Nai Co., Ltd. in Nhon Trach 5 Industrial Park, Nhon Trach Ward, said Hyosung Group has continuously sought to increase localization rates for exported fiber products over recent years.

The company is ready to cooperate with Vietnamese enterprises capable of supplying quality products that meet green standards at competitive prices. Currently, Hyosung has partnered with several Vietnamese enterprises to supply packaging materials and logistics services.

In addition, for its motor business segment, Hyosung plans to send procurement specialists from South Korea to Vietnam to search for and develop additional domestic suppliers, thereby further improving localization rates.

According to C.P. Vietnam Livestock Corporation in Bien Hoa 2 IP, Tran Bien ward, the company cooperates with more than 400 domestic enterprises to supply input products.

Meanwhile, many other FDI corporations in Dong Nai are also seeking domestic suppliers, including Bosch, Meggitt, Nestlé, LIXIL, Vedan, Cargill, SMC Kenda, Haohua, and Schaeffler.

Pham Quang Vinh, former Vietnamese Ambassador to the United States and former Deputy Minister of Foreign Affairs, said the international political situation is expected to remain complicated due to competition among major powers, tariff policies, and conflicts. These factors will strongly affect enterprises, supply chains, and investment activities. Therefore, businesses need to proactively monitor developments, build flexible strategies, expand markets, and improve their positions within global supply chains.

A test of business resilience

Since the beginning of the year, global developments have remained volatile due to conflicts and geopolitical tensions, driving up energy prices and logistics costs while disrupting supply chains in some areas.

Enterprises in Dong Nai and across Vietnam have faced rising production costs and narrowing profit margins, particularly in sectors dependent on imported materials. Nevertheless, thanks to flexible and timely solutions, Dong Nai’s industrial production and exports have continued to grow strongly. Specifically, during the first four months of 2026, the Index of Industrial Production rose by 14.15% year-on-year. In the same period, the city recorded 3,203 newly established enterprises with total registered capital exceeding VND117 trillion.

According to the Dong Nai City People’s Committee, the locality attracted nearly VND18 trillion in domestic investment capital and US$1.26 billion in FDI during the first four months of 2026, mainly in export-oriented industrial manufacturing sectors.

Tran Ngoc Liem, Director of the Vietnam Chamber of Commerce and Industry – Ho Chi Minh City Branch (VCCI-HCM), affirmed that Southern localities, including Ho Chi Minh City and Dong Nai, continue to stand out in attracting newly established enterprises.

In the new stage of development, domestic enterprises have been identified as an important driver of growth. To achieve the growth target, coordinated measures must be implemented to address challenges, improve the investment environment, promote digital transformation, and enhance competitiveness. At the same time, public investment should be stepped up, especially in large-scale infrastructure projects, to generate spillover effects and attract private-sector investment.

According to Liem, VCCI-HCM will continue to closely coordinate with localities to improve provincial competitiveness indexes while serving as a bridge between Vietnamese enterprises and international investors.

In addition, the organization will step up trade and investment promotion activities and establish direct connection channels linking local enterprises with export markets and strategic partners.

Dao Trong Khoa, Chairman of the Vietnam Logistics Business Association and Vice Chairman of the International Federation of Freight Forwarders Associations, noted that conflicts in the Middle East are affecting global markets through three major channels: energy prices, transportation costs, and supply chain risks.

In response to these challenges, enterprises need to develop contingency plans, reassess their markets and customer base, select capable partners, and ensure sound financial management. Moreover, businesses should shift toward energy-saving models and accelerate their digital transformation to maintain stable production and business operations.

According to economic experts, during the current period, Dong Nai enterprises should prioritize preserving cash flow, restructuring costs, and focusing on high-margin products and markets rather than pursuing expansion at all costs. Meanwhile, businesses need to accelerate digital transformation, diversify supply chains and markets, strengthen resilience against fluctuations, proactively meet green standards, strengthen business linkages, and capitalize on high-quality FDI inflows for sustainable growth.

By staff writers - Translated by M.Nguyet,  Minho