Raising Industrial and Export Production Value

 

Industrial production value in 2014 (based on constant price in 2010) was estimated at VND174.6 trillion (US$8 billion), up 6.6 times (565 percent) over 2013 and equal to 365 percent of the full-year plan. Total retail revenue of goods and social services was estimated at VND18.06 trillion in 2014, up 13.1 percent over 2013. Exports surged in 2014, mainly driven by electronics and telecom products manufactured by foreign-led companies.

 

The industry and trade sector of Thai Nguyen province effectively implemented Resolution 02/NQ-CP dated January 7, 2013 of the Government on a number of measures to remove production and business difficulties, support the market and deal with bad debts; carried out new rural construction programmes in the 2011-2015 period; fought against smuggling, counterfeiting and commercial fraud; and attended ‘Buy Vietnamese” campaign which encouraged Vietnamese people to give priority to made-in-Vietnam goods on their shopping lists.

 

Besides, the sector has implemented various construction projects to enhance the economic capacity, and develop industrial production and export value. Major developing industrial products of the province were smartphones and tablets, extracted and downstream-processed ferrous metal, crude ores, iron and steel, and garments and textiles. Key exports included polymetallic ores, mobile phones and tablets, apparels, medical equipment, and assorted tea. Meanwhile, main imports were machinery, equipment, spare parts, electronic components, apparel fabrics, iron and steel, and animal feed materials.

 

In 2015, the sector continues to review, adjust and supplement short construction plans. Particularly, the sector will worked out detailed plans for industrial zones, supporting industries, raw material zones, key products, shared infrastructure, and electricity networks. Encouraging all economic sectors to invest to create new products and generate jobs for local people is also an important task. Based on these tasks, the Department of Industry and Trade will direct affiliated units and coordinate with relevant bodies to review and propose changes in incentive policies and investment attraction.

 

Besides, the department will build industrial and commercial infrastructure structure, support capital and information technology for small and medium-sized enterprises (SMEs), and provide financial, credit and technical support for cottage industry villages to create new jobs and building material zones for processing industries. The Department of Industry and Trade advocates supporting, directing and urging businesses to review and organise production and business operations, exercise thrift, reduce input costs and indirect costs, enhance labour productivity to lower product prices and enhance product competitiveness. The department will step up trade promotion activities to search and expand markets, encourage companies to bring Vietnamese products to rural areas, facilitate them to expand domestic and foreign market shares, intensify market inspection and control to prevent fraud and smuggling, ensure the supply of essential commodities for consumers to prevent price fevers.

Thai Nguyen province also hoped the Ministry of Industry and Trade and centrally-run economic groups will help the province to speed up the progress of major investment projects like the second phase of Thai Nguyen iron and steel mill, transport and power networks to support key industrial projects in the province like Samsung high-tech complex, Thai Nguyen steel and iron mill, and Nui Phao polymetallic mineral processing and production project.