Phu Yen Province's Industry Exposes Strength

In the past five years, the Phu Yen industry grew 18 per cent a year on average. The industrial contribution to the GDP increased from 18 per cent to 25 per cent. The industrial sector generated an export turnover of US$30.5 million. Inside the industrial sector, the processing industry is steadily growing. Many products of Phu Yen have strong foothold in the domestic and foreign markets, such as RE and RS sugar, bottled beer and seafood.

 

To tap its industrial strong points, the province has significantly developed its infrastructure system and built industrial zones for industrial development. With its three industrial zones, Phu Yen is confident of having new breakthroughs. To date, more than 65 projects with a total registered capital of VND1,060 billion (US$63 million) and US$25 million have been licensed. At the same time, four small industrial complexes are being built near material sources.

 

Phu Yen targets to raise the industrial proportion in GDP to 30 per cent by 2010 and create industrial jobs for more than 20,000 people. By then, the export revenues in the province will exceed US$100 million.

 

The processing industry accounts for a quite high proportion in the industrial sector of the province and tends to be expanded. The province plans to raise the processing capacities of sugar plants to 5,800 tonnes of sugarcane a day and raise capacities of manioc plants to 1,000 tonnes of raw materials a day. The province will also increase the seafood processing capacity to 4,000 tonnes a year and diversify products. Phu Yen will call more investment into the processing industry, especially for processing lobster and tuna. Besides, the province will also create the most favourable conditions for the operation of new processing plants.

 

As for mechanical and electronics industries, the province will create conditions for the investment completion of the JRD Vietnam auto plant with an annual capacity of 15,000 vehicles and for the building of a new motorbike factory. It will also offer attractive incentives for the activation of the oil refinery project to serve the petrochemical industry. With labour and material source advantages, Phu Yen will continue investing in the modernisation and capacity increase of garment enterprises (aiming at 8 million products a year). It will also seek investment to raise beer output to 80 million litres a year and 1.5 million litres of purified water a year.

 

Phu Yen will survey many localities for new mineral reserves, carry out exploitation projects, process minerals and produce construction materials. The province has also developed traditional handicraft and trade villages for tourism industry and for export. At the same time, it targets to create new jobs for 10,000 people in rural areas.

 

To continue stable development step, the industrial sector will prepare all conditions like the site and human resources for industrial zones, industrial complex and especially future South Phu Yen Economic Zone. The province will improve investment environment and promote trade activities to expand export markets. Phu Yen will also develop trademarks and apply international standards to meet the international integration requirements.