Over the years, businesses located in local industrial parks (IP) have operated stably, completing and exceeding their plan and enjoying growth in revenue, export revenue and State budget payment, while contributing to creating jobs for local labourers.
Workers of Nissin Manufacturing Vietnam at Luong Son IP in Luong
Son district, which is employing nearly 250 labourers with an average income of
9.8 million VND per month.
The motorcycle components factory of Nissin Manufacturing Vietnam Co., Ltd. in
Luong Son IP in Luong Son district officially came into operation in 2014 with
a capacity of producing 23 million products each year.
In 2022, the firm created jobs for nearly 250 labourers who earn 9.8 million
VND (405 USD) each month. It paid 1.776 million USD to the State budget. The
company has shown strong performance in caring for labourers and creating a
friendly working environment for workers.
Luong Son IP is hosting 39 investment projects, including 17 foreign-invested
ones with a combined capital of 230 million USD. The projects have created jobs for about 15,000 labourers, mostly locals, with
an average income of over 6.5 million VND per month.
In the first nine months of this year, companies in the IP reported a revenue
of 13.18 billion VND, and exports of 499.09 million USD, paying 144.66 billion
VND to the State budget. As many businesses in the IP are enjoying exemption of corporate income tax,
the State budget collection in the next three years is expected to far exceed
the current figure.
Meanwhile, businesses in the Da River’s Left Bank IP are also operating stably.
According to the Management Board of Hoa Binh IPs, in the first nine months of
this year, the IP attracted additional three projects, fulfilling 60% of its
plan. Companies in the IP posted a combined revenue of 15.29 trillion VND. They
have created new jobs for 1,032 labourers.
To date, IPs in Hoa Binh have lured 107 projects, including 25 foreign-invested
ones with a total investment of 519.33 million USD, and 82
domestically-invested ones with a combined capital of 15.87 trillion VND.
Chu Van Thang, Director of the Management Board of Hoa Binh IPs, said that this
year, local IPs aim to attract five new projects, earning 22 trillion VND in
revenue and exports of 770 million USD, and creating new jobs for about 1,880
labourers.
To this end, the province has focused on improving the investment and business
environment, while upgrading the infrastructure of local IPs, and preparing
land stocks for investors, Thang said.
In the first half of 2024, Hoa Binh province granted new business registrations for 210 enterprises with a total registered capital of more than 4.75 trillion VND (187.5 million USD), an increase of 12% year on year, the provincial Department of Planning and Investment has reported.
The working class in Vietnam in general and Hoa Binh province in particular, has made significant strides in terms of quality and making practical contributions to the country's industrialisation and modernisation process. Establishing a well-organised working class that has professional skills, firm political mettle, capable of leading the innovation process, and actively integrating into global trends of globalisation, is the responsibility of the entire Party and political system. However, there are numerous challenges that hinder the robust development of the working class.
Accessing preferential loans from the Vietnam Bank for Social Policies (VBSP), many households in Tan Lac district have escaped poverty and many students progressed on their quest for knowledge.
The companionship of the preferential loans from the Bank for Social Policies (VBSP) has helped many households in Tan Lac district escape poverty sustainably. Along with that, the policy capital has accompanied with many students in their journey to seek knowledge until they achieve the "sweet fruits”.
In the 2023-2024 winter-spring crop, despite unfavourable weather conditions and negative impacts of market, Hoa Binh has basically achieved targets and even exceeded the yearly plan due to the fact that production direction and preparation of production material was carried out early.
Implementing the criteria on the form of production organization in the program for building New Rural Areas, the Party committees and the provincial authorities at all levels have strengthened the direction and implementation of land consolidation and land exchange.
