Thai Binh Province Seeing Big Change in Industrial Sector

Previously, the industry of Thai Binh Province was always dull before a developed agriculture of a locality in the Red River Delta.

 

However, since implementation of the renovation policy and especially after the 16^th Provincial Party Congress, the industrial sector of Thai Binh began affirming its position in the provincial economy with the motto “Focusing on developing industry and handicraft strongly, setting up several strategic industrial zones and complexes and prioritising traditional industry and trade village development.”

 

With the above guideline, the infrastructure system of the industrial sector has been invested in and renovated; hence, the production capacity increased sharply in recent years. In the 2001-2005 period, the industrial production increased averagely 17.8 per cent a year while the export revenues rose 23.6 per cent a year. The industrial export value accounted for 94.3 per cent of the total provincial export earnings. Many products satisfy both national and international standards and ISO9002 and 9001 standards, including Long ceramics, Beyker beer, Dai Viet beer, Vital mineral water and Red Star rubber.

 

To date, Thai Binh has five industrial zones, namely Phuc Khanh (120 ha), Nguyen Duc Canh, (101.89 ha), Tien Phong (66.35 ha), Tien Hai (128.23 ha) and Cau Nghin (97.5 ha). The province is building Gia Le and An Hoa industrial zones.

Besides, Thai Binh City and districts set up eight industrial complexes, which help push up the industrial growth in the province. Major products in these complexes include recycled nylon packages, gas lighters and processed food.

 

With existing industrial zones/complexes and attractive investment incentive policies, by the end of 2005, Thai Binh drew 196 investment projects with a combined registered capital of VND4,250 billion (US$265.25 million), which need a total workforce of over 53,000 people. Of the sum, 126 projects capitalised VND2,875 billion (US$180 million) are operational and are employing 37,265 workers. In 2005 alone, the province attracted 32 projects with a total registered investment capital of VND408 billion (US$25.5 million), employing 5,195 labourers.

 

After the introduction of the Resolution of the Provincial Party’s Steering Committee, the development of traditional trade and trade village grew strongly in Thai Binh Province. All districts and Thai Binh City paid due attention to this task. About 173 villages have been recognised by the provincial authorities. Nearly all communes in the province have traditional trade villages, which created regular jobs for more than 200,000 people.

 

Expanding trade villages and households mainly specialise in textile, wood processing, metalware manufacturing, handicraft bamboo and rattan, and embroidery. Several imported industries are also being successfully expanded such as box making, bead knitting, hook manufacturing and false eyelash production.

The growth of the traditional trades and trade villages has strong influences on the economic structure shift. The production value of trade villages accounts for 60-70 per cent of industrial value of the non-state sector.

 

To increase investment capital, Thai Binh Province has focused on all foreign sources: ODA, FDI and NGO sources. The province focuses on developing the infrastructure system in industrial parks and zones and creating a favourable investment environment. At the same time, Thai Binh and its districts continue building several industrial complexes in major residential areas to rationally rearrange the traditional trade and handicraft development in rural areas.

Thai Binh is checking its implementing policies and researching governmental policies to apply a flexible, transparent and consistent mechanism and policy to encourage investment. It will continue streamlining administrative procedures in order to shorten assessment time for investment projects, resolve land issues, and eliminate troubles for investors. The province will increase relations with ministries and branches and join hands with corporations to take advantages of market, capital, technology and management experience. As large investment projects come, the province will set up a steering committee to resolve all issues related to the projects for investors.