(HBO) – Hoa Binh province has invested much in industrial parks and clusters in recent years to attract more domestic and foreign investment. It is an important orientation in the province’s economic development strategy. Thanks to such effort, its industrial production reached more than 27.5 trillion VND (1.21 billion USD) last year, up 17.22 percent from the same period last year and 2.5 percent higher than the yearly target.
In the Da River Left-Bank Industrial Park,
more than 650 workers of the R Vietnam Technical Research Co., Ltd were still
busy making lens for export orders on the threshold of the New Year. Last year,
the company produced about 11 million product items and its export turnover reached
nearly 14.5 million USD, a year-on-year increase of 30 percent, despite
difficulties from fluctuations in the global economy.
Aside from the strong growth in export, the
firm has provided jobs for hundreds of locals and given them stable incomes
which averaged 6.5 million VND per person per month, said Nguyen Long, a
manager of the company.
Workers of the R Vietnam Technical Research
Co., Ltd in the Da River Left-Bank Industrial Park are making lens for export.
According the local authority’s report, the
province’s industrial production hit over 27.5 trillion VND in 2017, up 17.22
percent against the same period of the previous year. Its industrial production
index rose by 9.7 percent from 2016. Local industrial and handicraft firms remained
stable production with continued growth of key products, said the province’s
Department of Industry and Trade.
Some major products enjoyed strong growth like commercial electricity (8.01
percent), garment and textile (55.17 percent), brick (26.32 percent), cement
(22.45 percent), electronic products (26 percent), structural steel (18.92
percent), medium-density fibreboard (37.12 percent).
Also, export revenue experienced sound expansion thanks to local efforts to
diversify export markets while maintaining traditional ones like the US, the
EU, Russia, ASEAN, Japan, China and the Republic of Korea.
The province exported 505 million USD worth of products in 2017, a year-on-year
surge of 36.19 percent and 8.6 percent higher than the set plan. Meanwhile, it
spent more than 413.8 million USD on imports, up 28.8 percent from the previous
year and surpassing the set target by 5.57 percent.
A slew of measures have been deployed to effectively carry out the industrial
development project during 2016-2020 with vision towards 2030 to set up
large-scale production areas.
In July 2017, the provincial People’s Committee issued Plan No.91 on
implementing the industrial development project in 2016-2020 with vision
towards 2025. Accordingly, the province eyes an average growth of 10.5 percent
in added value of the industrial sector and a 15 percent growth in industrial
production value. Meanwhile, it expects that industry and construction will
make up 57.8 percent of its economy.
Infrastructure is key to develop local industry. The province will focus
investment on completing infrastructure in five industrial parks: Luong Son, Da
River Left-Bank, Mong Hoa, Lac Thinh and Yen Quang.
It will invest in developing basic infrastructure in six industrial clusters:
Chieng Chau, Khoang U, Phu Thanh II, Hoa Son, Dong Tam and Dong Lai-Thanh
Hoi./.
Prime Minister Pham Minh Chinh attended a groundbreaking ceremony for an electronic printed circuit board (PCB) factory at Da River Left Bank Industrial Park in Hoa Binh province on April 13. The electronic PCB factory is invested by Japan's Meiko Group at a total cost of 200 million USD.
In the first quarter of 2024, the credit institutions in the province have actively deployed the legal documents of the State and the State Bank relating to currency, credit and interest rates. At the same time, they have promoted the capital mobilization, focusing on the solutions to expand the credit investment along with strengthening the credit quality management, lending to priority programs to promptly meet the capital needs for export - business and consumer demand during Tet in 2024.
Outside the key economic region of Hoa Binh, yet Lac Son district has utilised its potential and strengths regarding labour, land, and transportation connectivity to attract investment to the locality, contributing to promoting socio-economic development.
In a move to expedite the execution and disbursement of the 2024 capital plan for ODA projects, aiming for a disbursement rate of over 90% of the allocated funding, the Hoa Binh People's Committee issued Document No. 483/UBND-KTN on April 3, 2024, regarding such efforts.
Nguyen Van Thap from Kim Duc hamlet, Vinh Tien commune, Kim Boi district, has built the brand of Hoa Qua Son for local fruits. His efforts have brought about income for his family and generated job opportunities for locals, helping hundreds of households escape from poverty.
The Hoa Binh administration was entrusted by the Prime Minister with a budget of 3.43 trillion VND (142.91 million USD) for investment in 2024. The provincial People's Council approved nearly 3.76 trillion VND, which has been meticulously allocated to projects, achieving 100% of the assigned capital plan.
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