In 2010, the industrial production value of Thai Binh province reached VND10,194 billion, representing a year on year increase of 26.94 percent and ranking second in the Red River Delta region; export turnover totalled US$445 million, 4.38 times that of 2005; and total retail sales valued VND14,075 billion.
In the 2006 - 2010 period, exploring and managing mineral resources in Thai Binh province was always a top concern. The State-owned Vietnam National Coal, Mineral Industries Holding Corporation Limited (Vinacomin) introduced plans for exploring, processing and using coal from the Red River Delta coal field. The State-run Vietnam National Oil and Gas Group (PetroVietnam) is preparing offshore gas production in the Gulf of Tonkin to serve the province's industrial development. Services and commercial infrastructure is being modernised; rural market systems are upgraded; petroleum retailing systems are modernised; four commercial centres, six supermarkets and do-it-yourself shops are built; prevention of smuggling and trade fraud is strengthened; and market development is stable. The province also effectively established and operated consumer protection and management associations to protect the legitimate interests of consumers and businesses.
The Resolution of the 11th National Party Congress, the Resolution of the 18th Provincial Party Congress, and Resolution 04 of the Provincial Party Committee on promoting industrial development in the 2006 - 2010 period, and Industrial Park Development Scheme from now to 2020, offer opportunities for Thai Binh province to restructure its economy towards industrialisation and modernisation and to become an industrialised province by 2020.
Resolution 04 of the Provincial Party Committee on promoting industrial development in the 2006-2010 period generated important results. Industry has promoted its role in provincial development and economic structuring. The proportion of industry and construction in gross domestic product (GDP) rose 24 percent in 2005, to 33 percent 2010, faster than the agriculture and services sectors. Total State Budget collection in the province reached VND2,095 billion in 2010, rising 3 times from 2005. The province has attracted many investment projects with advanced technologies like Thai Binh power centre, steel production, shipbuilding, yarn spinning, and export footwear. In 2010, the provincial competitiveness index of Thai Binh province rose to 22nd, from 50th in the previous year.
Based on the Resolution of the 18th Provincial Party Committee, the Thai Binh industrial and trade sector has mapped out overall development directions from now to 2015: Continuing development of modernising industry and commerce, focusing on concentrated industrial parks to develop industries; and developing cottage industries and handicraft villages. The province will focus on attracting large scale and high technology industrial projects, with priority given to energy, agriculture, aquaculture and supporting industries; diversifying business models; building new countryside; and developing domestic and export markets. In the 2011 - 2015 period, industrial production value is expected to increase 20 percent a year on average; exports are projected to expand 13 percent annually; and imports are estimated to rise 12 percent.
To achieve these goals, the industry and trade sector is carrying out some primary tasks and solutions. First, it builds and carries out industrial and commercial development plans like industrial zone network development in the 2010 -2020 period; agriculture - aquatic processing plan; electricity, engineering and metallurgical plans; market, trade centre and supermarket plans; and energy-saving apparel industry development plans. Second, the sector focuses on implementing measures to curb inflation and ensure local market stability. Third, it steps up investment promotion activities, develops industrial parks, and builds cottage industry villages. Fourth, it takes care of expanding domestic markets and maintaining export markets. Fifth, it actively advises the province to cooperate with State-owned enterprises to pick up the pace of investment projects in Thai Binh province.
Vietnamese
