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Local Economy

Last updated: Tuesday, March 26, 2019

 

Long An Strives to Become Industrial Province in 2020

Posted: Thursday, January 10, 2019


During nearly three years of enforcing the Resolution of the 10th Provincial Party Congress, Long An province has always registered high industrial growth, thus facilitating local economic restructuring in the right direction. The share of industry and construction in the gross domestic product (GDP) increased from 43.3% in 2015 to 44.3% in 2017.

The role of growth driver affirmed
Mr. Duong Van Hoang Hoanh, Deputy Director of Long An Department of Industry and Trade, said the province’s industrial development has always secured a relatively high growth, driven by foreign and domestic investment funds. The industrial production index rose 13.5% in 2016, 14.2% in 2017 and 16.05% in 2018. The industrial production value expanded 19.8% in 2016, 16.6% in 2017 and 16% to VND212,730 billion in 2018. The annualised growth in the 2016 - 2018 period was 17.5%. Currently, Long An province has 1,962 companies and 7,259 industrial facilities, mainly engaged in manufacturing and processing. Industrial products account for 80% of the province's export value.

The industrial structure has shifted positively with a gradual increase in processing, mechanical engineering, electricity and electronic sectors and decrease in labour-intensive, environment-polluting industries like garment and textile. The competitiveness of enterprises and products has strengthened both in domestic and export markets.

Besides, the tenant occupancy rate in industrial parks is increasing. As of September 2018, the province had 16 active industrial parks with an occupancy rate of 80.33%, and 19 small industrial complexes with an occupancy rate of 86.55%.

These encouraging results over nearly three years will be the foundation and motivation for Long An’s industry and trade sector to further fulfil the targets set forth in the Resolution of the 10th Provincial Party Congress, gradually raise the share of industry and construction to 50% in the local economic structure and realise the goal of developing Long An into an industrial province in 2020.

In priority of green industries
Long An province has introduced a list of investment-encouraged industries, conditionally invested industries and investment-restricted sectors. When it reviews investment processes and procedures, the province will assess project technologies invested in some sectors to make sure that such technologies are advanced, thereby helping local industrial enterprises access clean, advanced and friendly technologies. The province has also made great efforts to attract environmentally friendly investment projects, particularly attracting 13 solar power plants, including three kicked off in September 2018.

The Long An Provincial People's Committee issued a plan on sustainable development and climate change adaptation which gives priority to developing green industries, agricultural processing industry. The province focused on researching and tapping renewable energy development potential, especially solar energy; supported investors to study investment procedures and policies for a thermal power plant in Long Huu Dong commune, Can Duoc district to ensure new, modern and environmentally friendly technology. In particular, the provincial government issued an action plan to fulfil the Paris Agreement on Climate Change; carried out the Target Programme to respond to climate change and green growth in the 2016 - 2020 period, focusing on building and developing high-tech industries that turn high added values and competitive products; and improved product quality of existing industries like processing industry. The province also encouraged development investment for ecological industrial parks and hi-tech parks, developed the industry into a leading environment-friendly economic sector.

Hoang Lam








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