Vietnam Gov't Okays US$10.9 Bln for Power Equipment Production
The Vietnamese Ministry of Industry and Trade (MoIT) has recently approved a master plan to pour around VND180 trillion (US$10.9 billion) into electricity equipment production between 2006 and 2015 with vision to 2025.
Of the sum, VND43 trillion (US$2.6 billion) will be used for the 2006-2010 period while the remaining for the sector's development between 2011 and 2015.
The national power equipment production sector targets to raise its annual average growth rate of production value of 19-20 per cent by 2010, and of 17-18 per cent between 2011 and 2015.
It also expects to meet 60 per cent of domestic demand for electric wires and transformer stations by 2010 and 70 per cent by 2015, as well as satisfy 55 per cent of local demand for electric motors and dynamos by 2015.
As part of efforts to facilitate the sector development, the MoIT has applied some incentives, including those on tariff, investment and market expansion consultancy and investment promotion. (News, Young People)
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