The Ministry of Industry (MoI) is seeking government approval for a plan to develop the industrial sector in north’s key economic region until 2015, and a vision to 2020, with total investment of almost VND416 trillion (US$26 billion), state media report.
Of the total figure, between 23 and 25 per cent will come from foreign direct investment. The ministry said it was looking for between 10 and 12 per cent of investment from foreign loans and between 9 and 10 per cent from domestic financial sources.
Under the plan, priority will be given to mechanical engineering, metallurgy, electronics, information technology, building material, chemistry, textile-garment-leather shoes and mining.
Hanoi suburbs will be turned into a hub for manufacturing engines, automobiles, machine tools, precision equipment and complete replacement parts.
Mineral-rich, coastal Quang Ninh province will focus on shipbuilding and producing mining, mineral sorting and screening equipment, machine tools and heavy-tonnage trucks.
The port city of Haiphong will be a venue of shipyards and both light and heavy engineering industries, including electronic appliances.
Other provinces in the key northern economic zone subject to the investment strategy include Hai Duong and Ha Tay, which will focus on motor assembly, in addition to the production of containers and agricultural machines.
Bac Ninh province will emerge as a major site for electronics and electric parts production, and computer assembling.
The key northern economic zone is calling for investment in hot steel rolling and steel panel production up to 2010.
The ministry is also seeking investment for three steel projects with annual capacities ranging from 50,000 to 250,000 tons.
Investment is also needed to develop a major textile and garment industrial site and a series of factories serving the industries in different provinces and cities in the region, said the ministry. (Vietnam & World Economy, VNA)
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