Hoa Binh sees progress in industrial, handicraft production

9/18/2019 - 8:28:31 AM

Vu Thi Hop, Chairwoman of the Da Hop JSC – investor of the Da River Left Bank Industrial Zone in Hoa Binh province, said the company did not only invest hundreds of billions of VND in developing infrastructure at the industrial park, but also strived to attract investors, particularly in environmentally-friendly and hi-tech industries that require large investment.

Workers of Dai Mo Rubber Plastics JSC at Luong Son Industrial Park.

The industrial park currently houses 23 enterprises, including six FDI firms. Last month, the Da Hop JSC received representatives from Japan’s Private Finance Initiative (PFI) to promote industrial investment not only at the Da River Left Bank Industrial Zone, but also in other districts of the province.

The province’s industrial and handicraft production has seen progress since the beginning of the year with improved business climate that continued to motivate the economic growth. The industry, particularly processing and manufacturing, was the key driver of the economic growth.

In the first three quarters of the year, the province’s industrial and handicraft production valued at 26.8 trillion VND, up 12.7 percent compared to the same period last year and equal to 71.7 percent of the yearly target. Its Index of Industrial Production (IIP) picked up 10.5 percent year on year with significant growth recorded in various areas of the processing and manufacturing industry, such as clothing, electronics, bricks, MDF boards, cement, animal feeds and steel structures.

Many local textile-garment and footwear producers have orders until the year end and are working hard to fulfill these orders and look for new ones.

During the period, accumulated electricity production exceeded 8.2 million kWh, representing72.6 percent of the yearly goal. Positive sign was also witnessed in the mining with production of construction stone expanding 40.1 percent year on year while that of coal increasing 22.3 percent year on year.

Hoa Binh expects the industrial production value to reach nearly 10.6 trillion VND in the last three months of 2019 to bring the entire year’s figure to 39.4 trillion VND, creating impetus for the province’s economic growth in the following years./.

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