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Enterprises overcome challenges

(CTT-Đong Nai) – In this economic recession period, as many Dong Nai's enterprises are facing challenges ranging from downsizes to closed down, some are seeing positive business results.

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Coconut jelly product from GC Food and its export ambition. 

Thanks to their efforts and leadership, these companies are overcoming the recession, slowly building up for the next development.

Positive growth

At GC Food Joint Stock Company (Ho Nai Industrial park), despite facing many challenges simultaneously, the year 2022 could be considered as a successful year, both financially and productively. The total revenue was 430 billion VNĐ, a 29% increase compared to 2021. Based on these achievements, the company aims to increase their revenue by another 22%. In the next 3 years, the company will invest more than 400 billion VNĐ into technology and expand the scale of production, in order to satisfy both domestic and international needs.

Mr. Nguyen Van Thu, Chairman of GC Food's Board of Directors, said after the successes of aloe vera and fresh farming products, the company is planning to export coconut jelly to the world. Following the growth of coconut jelly popularity, the company will expand the manufacture facility, boosting productivity to 30 thousand tons a year.

In mechanical and construction business, Cua An Gia Limited Company (Long Thanh district) targets their products' prices at mid to high range.  The raw materials are imported from Germany and are contracted as an exclusive business partner. Mr. Dinh Duc Dien, company's director, said in the past 2 months, the company has received more orders from customers than before, and some projects are being pushed to meet the delivery dates. During the time when other companies are facing hardship, his company entering a production peak is a huge effort, and this encourages the company to continue developing.

Similarly, Dai Sy Phu Limited Company (Bien Hoa city), a company who main products are electric machines, and kitchen interior design, has just opened another showroom on the busy Vo Thi Sau street. According to Mr. Dai Sy Phu, company's director, the opening of this showroom will help bringing his brand “King of Kitchen" closer to customers. Furthermore, Dai Sy Phu can work together with other major brands in the country, becoming a major supplier and building his own secondary dealers.

The needs for more support

In reality, the manufacturing, selling, and exporting products situations are still having difficulties. A recent survey from nearly 10 thousand companies concluded that 80% of them are on the verge of downsizing, some even have to shut down. Economic experts believe that the situation will not improve much by the end of this year. 

Even enterprises which are slowly recovered, they still have challenges waiting for them. This is due to the world is still experiencing an economic recession, and the inflation rate is rising.The world's politic and economy is still uncertain, the drop in supply and demand, will make the situation more difficult. Therefore, companies can not become complacent and have to keep on improving their productivity.

Besied the enterprises' own efforts to stay afloat, government's organizations and agencies also need to step up their trade promotion activities; especially communications with foreign companies, and updating market information, as they will help domestic enterprises be able to adapt and overcome challenges.​​​

Author: Nam Vu

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