Industry and Trade Sector Driving Socioeconomic Development

8:08:21 PM | 4/5/2022

Despite being heavily affected by the COVID-19 pandemic, the industry and trade sector of Hung Yen province achieved impressive results thanks to many strong solutions to remove difficulties for businesses, thus affirming the driving role in local socioeconomic development.

Positive changes

When it was re-established in 1997, Hung Yen was still an agricultural province where agriculture accounted for 46.52% of the economy, while the industry and construction sector made up for only 32.48%. After 25 years, the province's socioeconomic development has made a leap forward, with a reversion between agriculture and industry - construction. Hung Yen has gradually formed foundations for the goal of becoming an industrial province in the near future.

In 2020 and 2021, despite suffering heavy impacts from COVID-19, Hung Yen's economy still grew well, with the GRDP expanded by 6.52%. The economic structure comprised 63.67% of industry - construction, 27.65% of trade - service, and 8.68% of agriculture - fishery. Total budget revenue reached VND18,660 billion, 37.27% higher than the plan. Total development investment fund amounted to VND36,407. GRDP per capita was VND87.43 million. The poverty rate was 1.3%.

Mr. Nguyen Van Tho, Director of Hung Yen Department of Industry and Trade, said that to achieve the above results, the department actively carried out many key breakthrough tasks. Accordingly, the agency advised the Provincial Party Committee, the Provincial People’s Council and the Provincial People's Committee on resolutions, policies, and specific programs and plans to bolster industrial and commercial development; coordinated with relevant bodies and localities to effectively draw investment funds for industrial and commercial development; promoted exports and diversified markets. In 2021, amid the COVID-19 epidemic, the province's export value still reached US$5.1 billion, 1.62 times higher than in 2015 and 8.7 times higher than in 2010.

In addition, the department coordinated with other relevant bodies to woo investors to develop industry and trade, invest into electronics, mechanical engineering, automobile assembling, steel rolling, textile and garment, furniture and other industries and affirm their name and position in the market. Furthermore, the agency also had solutions to boost business establishment, launch trade promotion; and effectively develop and implement price and market stabilization plans.

Actively removing difficulties for businesses

Given COVID-19 epidemic impacts, the Department of Industry and Trade advised the Provincial People's Committee to adopt many business support solutions in a bid to help local enterprises to revive their operations. In 2021, it hosted a workshop on supply and demand matching for Hung Yen longan and agricultural products at the Provincial Convention Center in both offline and online forms attended by 17 demand points in provinces and cities in the country and 45 foreign demand points in 21 countries, including China, Japan, the United States, Australia and South Korea. After the meeting, the department actively worked to bring Hung Yen-branded longan to e-commerce platforms (such as Shopee, Sendo, Voso and Postmart), and link the product with distributors, supermarkets and wholesale markets.

Besides, it had solutions to smooth transportation and distribution of goods; worked out plans to ensure supply of food, foodstuffs and essential goods for people; instructed units to reduce power bills for customers as guided by the Ministry of Industry and Trade; and excellently performed investment consulting, promotion and attraction.

According to the plan of Hung Yen province to 2025, the supporting industry will become an important industry, capable of manufacturing and supplying components and spare parts for domestic industries. By 2030, it will gradually join global supply chains operated by multinational corporations. 

What's more, administrative reform is defined as a key task and an important role in local socioeconomic development. Since 2017, the department gradually shifted to providing online public services of Level 3 and Level 4. Up to now, all 116 administrative procedures are being delivered at Level 3 and Level 4, including 92 out of 116 administrative procedures of Level 4 (accounting for 79.3%) and 24 administrative procedures of Level 3 (20.7%). The PAR Index of the Department of Industry and Trade climbed to the top in the province for years (ranked No. 2 out of 17 departments in 2019 and 2020).

In the coming time, the department will further grasp business operations of local enterprises to have appropriate solutions or advise the provincial government to take timely measures, Mr. Tho affirmed. At the same time, it will renew and expand industrial and trade promotion; consult and support companies to boost their production capacity; and facilitate investing activity.

Additionally, it will intensify industrial inspection to promptly handle violations and create a healthy business environment; launch trade promotion; enhance information and knowledge of international economic integration, especially free trade agreements such as CPTPP, EVFTA and RCEP, hence, raising perception, trust and confidence in international integration.

Last but not least, the department will take measures to strengthen discipline, educate moral virtues, improve responsibility and professional capacity of personnel to undertake all their assigned tasks. This will help raise the Provincial Competitiveness Index (PCI) and District and Department Competitiveness Index (DDCI), he noted.

By Vietnam Business Forum