The industrial sector has targeted to obtain an average annual growth rate of 15.2-15.5 per cent in the 2006-2010 period and plans to constitute 44 per cent of the national gross domestic product (GDP) by 2010, said Deputy Minister of Industry Bui Xuan Khu.
The sector also plans to meet domestic demand for essential industrial products as well as contribute about 80 per cent to the country's total export turnover, Mr. Khu added.
Khu further said that by 2010, the State-owned sector will make up 31 per cent in the industrial economic structure, while the private sector will hold 33 per cent and the foreign-invested sector, 36 per cent.
The sector will prioritize not only rapid growth but also product quality, production efficiency, product competitiveness and market expansion, and the development of production materials and subsidiary industries, Mr. Khu added.
Focus would be on agriculture, forestry and marine processing, textiles and garments, shoe-making, and electronics and shipbuilding, he said, adding that “such industries can exploit the advantages of our natural resources, create thousands of jobs and meet the huge demand of the international market".
The government also sees growth in industries like electricity, petrol, coal, basic chemical substances, mine ores and machinery production. He said “such industries will help the country become more self-sufficient and allow the entire industrial sector and economy to grow.”
To meet the development demand throughout the country, both foreign and domestic investment would be sought to maintain an annual growth of 17 per cent for electricity and reach 106-118 billion kWh by 2010.
“Each year about 30-35 million tons of petrol will be exploited as well,” he said.
An oil refinery and petrochemical projects will expand to meet 30-35 per cent of national petrol demand and 20-30 per cent of plastics demand.
By 2010, the government aims to have 60 per cent of products, mostly cement, paper, food processing and agricultural machinery, made with locally-made machinery.
Other areas that have high potential for growth include software, electronic accessories, pharmaceuticals and cosmetics, and detergents.
Mr. Khu said the Ministry of Industry would seek foreign investment in these areas. It also wants domestic companies to engage in transfer of technology from foreign companies and production of high-tech products that could be purchased by multinational companies.
Khu added that the ministry will continue to conduct administrative reform at its agencies and complete legal documents for conformance for international integration. The ministry will also accelerate the formation of policies to fight smuggling and counterfeit goods.
In 2005, the sector registered an increase of 17.2 per cent in production value and industry and construction constituted 41 per cent of the GDP. The export value of industrial products was US$24.5 billion, accounting for 76 per cent of the national export turnover and a year-on-year increase of 21.1 per cent.
VNA
Vietnamese
