Creating Impetus for Economic Growth

5:02:57 PM | 14/12/2011

For the past years, Vinh Long has continued to see high growth in industry and trade. Despite difficulties, there has been no price fever in local markets. Total retail commodity circulation has held a high growth rate.
Among those, industrial production value practice in 10 months was estimated VND5,128 billion and 254 million, 76.09 percent of 2011’s plan, increasing by 19.26 percent against 2010. The change in 2011 is the notable growth rates of the public sector (increasing by 55.62 percent in 10 months) and the foreign funded sector (increasing by 28.61 percent), which helped to maintain the overall industry high growth rate.
 
According to Mr Le Quang Trung, Director of Department of Industry and Trade, many enterprises have been active in production and doing business, utilizing government supporting policies, overcome difficulties, sped up production, innovated design, improved product quality, and increased production to meet domestic consumption and export demands. Total export turnover has dramatically risen with a growing percentage of industrial-handicraft goods.
 
Particularly, production values of most public sector enterprises have risen significantly, for example: Cuu Long fertilizer factory increasing 2.29 times, Cuu Long Mechanical Joint Stock Company increasing 1.53 times, and Cuu Long Tobacco Company increasing 41.25 percent. Foreign funded businesses have maintained high growth, such as BO HSING Limited Company increasing 2.3 times, and CJ VINA AGRI Limited Company increasing by 3.1 times.
 
Mr Trung said that there has been closer and closer relationship between enterprises and governmental management agencies through many surveys, meetings, and exchanges to grasp businesses’ difficulties so that they can recommend to the provincial People’s Committee, governmental agencies and departments suitable measures to help enterprises overcome obstacles.
 
Besides, communication and implementation of governmental policies and direction have timely reached objects. Investigation, market control, anti-smuggling and low quality goods, price registration and quote activities are boosted regularly from province to localities, helping stabilize the market and prevent business violations.
 
Concerning achievements, Mr Trung said that Governmental, Ministries and Departmental measures to curb inflation and stabilize the economy have worked and resulted in increasing commodity stability, which helped to create impetus for growth. Provincial Party and People’s Committees’ attention, survey and timely guidance have contributed to tackling enterprises’ difficulties and obstacles. The electricity supply being more stable has enabled businesses to actively schedule their production and business. In addition, their efforts to overcome challenges caused by adverse fluctuations of the market were also a contributing factor.
 
Sharing about objectives and tasks in 2012, the Department of Industry and Trade said that they target to increase industrial production value by 22 percent against 2011; pilot build infrastructure in one industrial complex to call for investment; newly build and upgrade 17 markets; and gain US$350 million of export turnover and total social retail goods circulation of VND 25,200 billion.
 
Moreover, the Department has always regularly observed and caught up enterprises’ operation status to consult and recommend the Provincial People’s Committee to handle their difficulties. The Department has also concentrated on providing guidelines for key production industries, which are fishery processing, animal feeds, garment and textile for export, export shoes, lubricants, fertilizer, pharmaceuticals, and building material production. Practical assistance programmes were fostered for enterprises in fields of industrial extension, commercial promotion, human resource training, technology transfer, information about international economic integration.
 
Ha Phuong