Industry and Trade Extending Positive Growth Momentum

9:20:39 AM | 18/3/2024

Over the past two decades, the industry and trade sector of Hau Giang province has made many encouraging achievements, maintained positive growth momentum and played an important role in industrialization, modernization and international economic integration. Vietnam Business Forum has an interview with Mr. Nguyen Van Quan, Director of the Department of Industry and Trade, Hau Giang province.

Hau Giang is ambitiously aiming to achieve a total import-export turnover of US$1,229 million by the year 2024

Could you briefly introduce outstanding achievements of the industry and trade sector of Ha Giang province in recent years?

In 2023, with the close guidance of the Provincial Party Committee and Provincial People’s Committee and the resolved effort of all employees, the industry and trade sector of Hau Giang province achieved encouraging successes and helped Hau Giang obtain the gross regional domestic product (GRDP) growth of 12.27%, ranking second in the country.

Stable industrial production showed signs of optimistic growth. The value was estimated at over VND66,518 billion, up 24.21% year on year and 2.77% higher than the yearly plan. Total export and import value was US$1.2 billion, 4.92% higher than the annual plan. Of the sum, exports were worth US$833 million, 6.72% higher than the yearly plan and imports were valued at US$363 million, 1.01% above the yearly plan.

Trade and service continued to grow as high as 8.84%. The expanded trade and service business network and rich, diverse supply of goods effectively met local market demand. Total retail revenue of consumer goods and services were estimated at VND54,637,830 billion, up 17.76% year on year and 6.09% higher than the target set for 2023.

Given its great potential and advantages, how has Ha Giang province attracted investment capital and developed industry?

Industry is one of the important driving forces for economic development in Hau Giang province. After it was established, Hau Giang has two industrial parks with a total area of 492 ha and an occupancy rate of 93.32%, hired by 63 projects, including 45 projects in operation. The province also has seven active industrial complexes with a combined area of 486.55 ha and an occupancy rate of 70.95% (275.2 ha), leased by 50 projects which registered to invest VND9,597.66 billion (US$412 million) and US$390 million.

Industrial zones create jobs for nearly 30,000 workers and help raise local fiscal revenue and industrialize rural areas. According to the plan to 2025, Hau Giang will have three more industrial parks with a total area of 784 ha and five new industrial complexes with an aggregate area of 230 ha, and expand two existing industrial complexes by 31.5 ha. In 2023, the province's import and export value reached US$1.96 billion.

The province’s industrial growth index was 13% a year in the last two years. Industrial production value increased significantly every year and accounted for a large structure, estimated at VND64,947 billion in 2023, representing a year-on-year growth of 17.76% and exceeding the yearly plan by 0.35%.

To support companies to develop production and business, innovate technology, improve competitiveness and diversify markets, what solutions have been implemented by the Department of Industry and Trade of Hau Giang province?

The Department of Industry and Trade has actively coordinated with relevant agencies to work with investors and businesses, and promptly advised the Provincial People's Committee to seek and apply solutions to difficulties and obstacles faced by them in carrying out investment projects and industrial manufacturing. The department has also adopted solutions to support companies to revive production and business. In addition, the department has also developed a business support plan to bring OCOP products to e-commerce platforms and collaborated with relevant agencies to adopt digital transformation in annual trade promotion events to support businesses, cooperatives and other business entities with the opportunity to access information technology, improve their competitiveness, and promote and introduce products on major e-commerce platforms. Currently, Hau Giang province has launched 105 OCOP products and 904 agricultural products on e-commerce platforms such as Clamshell, Postmart and Sendo.

In particular, the department has directed the review, reduction and simplification of administrative procedures to improve the quality of administrative reform, digital transformation and the business investment environment. The agency also announced, published and completed administrative procedures according to regulations; minimized late deliveries; promptly handled new legitimate feedback and recommendations from people; and improved service quality to people and businesses dealing with administrative procedures and public services in real time in the electronic environment.

The department has accelerated the digitization of administrative records and settlement results and electronic storage according to the province's plan; enhanced the effective proliferation of administrative discipline, office culture and working regulations; used public satisfaction as a measure of official service; and arranged appropriate resources for effective working in general and administrative reform in particular towards e-government, digital government and digital citizens.

Thank you very much!

By Manh Dung, Vietnam Business Forum