Thanks to the firm and flexible direction and management of the province and timely solutions to remove difficulties for businesses, in 2022, Vinh Phuc's industry has made spectacular growth with total production value estimated to increase by 15.5%, affirming the province’s role as an economic growth engine.
With the motto: "All investors who come to Vinh Phuc are citizens of the province", over the past time, Vinh Phuc has focused on perfecting the system of mechanisms and policies on investment attraction, organizing dialogues directly between provincial leaders and enterprises to promptly remove their difficulties and obstacles; improving the investment environment, supporting site clearance, tackling labor shortage, stabilizing prices, ensuring supply chains; and implementing reform and simplification of administrative procedures in customs.
The province has been promoting the application of information technology in the management and supervision of import and export goods, import and export tax collection to avoid troubles, reducing time and costs for the business community; providing online public services at level 4 to handle administrative procedures in the field of customs. The province has minimized the time to handle administrative procedures in the natural resources and environment sector, thereby removing difficulties and obstacles for enterprises to maintain their business activities.
In 2022, the province's total industrial production value is estimated at more than VND340 trillion, up 15.5% over the same period in 2021. Some key products of the province increased sharply such as sales of electronic components up by 24.4%; motorcycles of all kinds up by 11.02%; clothing by 7.21%, and tiles by 6.01%. With the strength of modern technology, high automation and deep involvement in the global supply chain, electrical components manufacturers have made a spectacular breakthrough in production and business amid the impact of the COVID-19 pandemic, with total revenue in 2022 estimated at more than VND194 trillion, up 24.4% compared to 2021; export value up by 15%; creating more than 75,000 jobs, accounting for 65% of the total number of employees working in FDI enterprises in industrial parks, an increase of more than 8,400 employees compared to December 15, 2021.
According to the assessment of functional sectors, in the coming time, the province's industrial production will continue to grow strongly as the province now has 16 industrial parks with a total area of over 3,110 ha. Vinh Phuc province will continue to prioritize attracting FDI from multinational corporations, organizing investment promotion conferences in key markets such as Europe, the United States and Japan. Vinh Phuc has concentrated on completing the infrastructure of industrial parks and clusters to attract investment; strongly applying information technology in administrative procedure reform, creating a favorable investment environment for enterprises; encouraging and supporting enterprises to apply online trading.
The strong growth of the industry in 2022 continues to affirm that industry is the driving force, pillar and foundation for Vinh Phuc's economic growth. The province will strive to continue controlling the COVID-19 pandemic well; solving the problem of rising raw material prices due to increased gasoline prices affecting production costs to maintain growth momentum for the industry, contributing to Vinh Phuc's goal of achieving economic growth in 2023 from 9 to 9.5%.
By Nguyet Tham,Vietnam Business Forum