With its third quarter GRDP growth of 10.15%, Ninh Thuan ranked 9th in the country and 3rd out of 14 provinces in the North Central Coast and the Central Coast. The industry and trade sector made important contributions to this success. To promote its positive performance, the sector will further review and remove difficulties to complete its goals in 2023.
The synergy of wind and solar power in Thuan Bac district, Ninh Thuan province
Industrial production grew positively. The Industrial Production Index was estimated to increase by 11.01% year on year in 10 months of 2023. The mining sector accounted for the highest share (rising by 55.32%), followed by electricity production and distribution (12.56%) and processing and manufacturing (2.60%). The strong growth of some key industrial products such as sugar, salt, cashew nuts and electricity helped industrial growth from a year earlier. Ninh Thuan targeted to bring the added industrial value to VND1,375 billion in the fourth quarter and to VND5,883 billion in 2023, rising 16.12% year on year and contributing 3.47% to the GRDP growth.
The Ninh Thuan Department of Industry and Trade also focused on directing and accelerating the progress of renewable energy projects after the Ministry of Industry and Trade issued the electricity generation price framework for transitional solar and wind power plants. Accordingly, electricity price agreements have been reached for four completed projects: Hanbaram wind farm (93MW), Thien Tan Solar Farms 1.2 and 1.3 (120MW each), and Trung Nam Thuan Nam Solar Park (172MW).
According to the development direction, the province strived to raise energy and renewable energy to account for 12% of the province's GRDP and solve 7.3% of employment needs in the province by 2030. The locality will focus on tapping the potential natural advantages of sunny and windy conditions to develop solar power, onshore wind power, offshore wind power, LNG gas power, pumped storage hydropower and new energy sources (hydrogen, tide and biomass). By 2030, the industry will contribute 40% to the province’s GRDP.
In addition to industry, trade and service activities continued to grow. In the first 10 months of 2023, total retail revenue of consumer goods and services totaled VND31,413.7 billion, up 16.4% year on year.
In order to reach its goals, the industry and trade sector has actively reviewed difficulties, especially in energy, investment and land policies. In the coming time, the sector will concentrate on effectively implementing the national electricity development plan for the 2021 - 2030 period, with a vision to 2050; call for investment in offshore wind power projects, self-consumed solar power, pumped storage hydropower and new energy source (hydrogen); and continue to support solving difficulties to promote processing growth.
To boost trade and service, the sector will continue to promote potential strengths, take advantage of opportunities and room for growth in tourism service, speed up digital application, especially in tourism, trade, services and logistics. It will strongly develop e-commerce, carry out trade promotion programs and utilize free trade agreements to increase exports.
Source: Vietnam Business Forum
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