Vinh Long’s industrial production targets 12% growth in 2017

The Mekong Delta province of Vinh Long has set to expand the local index of industrial production to 12%, and reach VND42,000 billion in total retail sales of consumer goods and services, and US$360 million in export turnover in 2017. 

To that end, the locality’s industrial and trade sector was required to give development support policies to solve difficulties facing enterprises’ production and business, and promote administrative reform to attract more investments into the province, said Vice Chairman of the provincial People’s Committee Tran Hoang Tuu.

Accordingly, businesses, especially those operating in key export sectors such cement, fertilizer, rice, handicrafts, and aquatic product will be supported. 

The local authorities will focus on implementing a number of plans to restructure the industry and trade sector, and supporting enterprises in applying new technologies and improving the design and quality of their goods to increase competitiveness. 

The construction of their infrastructure facilities industrial parks (IPs) has been requested to be completed on the schedule committed by investors.

Additionally, trade promotion activities and links between local enterprises with counterparts and distributors in other localities will be intensified, towards expanding markets for local farm produce. 

According to the provincial Department of Industry and Trade, the industrial production in the locality in 2016 recorded the signal of recovery and stable growth with the index of industrial production rising by 11.03%, higher than the national index and ranking the fourth in the Mekong Delta region. 

The province’s industrial production value in the year hit nearly VND25 trillion (US$10.97 billion), up 11.5% year-on-year, importantly contributing to the total gross regional domestic product (GRDP) in the context that the locality’s agriculture sector was heavily affected by climate change. 

In 2016, the local authorities granted new investment licenses to six foreign-invested projects and three domestic ones in IPs with total investment of US$150.5 million.

IPs in the locality have so far attracted 44 projects with total disbursed capital of VND1.15 trillion (US$48.3 million) and US$119.6 million. 

The industrial production and export values in IPs reached VND11.6 trillion (US$539.5 million), and US$238.2 million, year-on-year increases of 21.6% and 9%, respectively.

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