Despite the difficulties caused by inflation and price hike, the industrial production of Binh Thuan province managed to maintain sustained growth momentums in the first six months of 2011. This result was very impressive as Vietnam was struggling to curb inflation.
The Binh Thuan Department of Industry and Trade said thanks to effective and proactive solutions to deal with adverse impacts engendered by rising inflation and soaring prices of inputs and fuels, the industrial production valued of Binh Thuan province rose 12.9 percent year on year to VND2,413.5 billion in the first six months of 2011, equal to 42.1 percent of the full-year plan. Particularly, hydropower production value topped VND516 billion, up 7.8 percent over the same period in 2010).
From January to June 2011, Binh Thuan province licensed four investment projects to lease 3.33 ha in the Phan Thiet Industrial Park, Phase 2 and five investment projects to rent 22.59 ha in the Ham Kiem Industrial Park 1. The province is finalising procedures for the construction of Tan Binh seafood processing complex, the first phase of Thang Hai Industrial Complex, and Nghia Hoa Industrial Complex. Many electric power projects are also carried out effectively.
In spite of being trapped in both objective and subjective challenges, the industrial production in the six-month period still retained steady growth. This outcome was resulted from persistence and effort of all economic sectors as well as efforts in public administration reform and business support of provincial authorities. In addition to these is the close and flexible instruction and governance of the Provincial People’s Committee and effective coordination of competent branches in executing the Resolution 11/NQ-CP of the Government dated day February 24, 2011.
However, the province also saw a lot of shortcomings needed to be addressed in the period. Although the industrial production value was greater than the same period last year, it completed only 42.1 percent of the full-year year only. The output of six out of 17 major products was under a half of the yearly plan. Many businesses were still confused and inactive in production and technological renovation.
They lack competitive and high-quality products to expand the presence on domestic and international markets. What’s more, the construction progress of industrial projects remained slow because many investors failed to mobilise enough capital in time. The amount of investment capital into industrial parks remained humble, thus failing to catch the interest of big investors.
According to Mr Tran Van Nhut, Director of Binh Thuan Department of Industry and Trade, difficulties triggered by escalating inflation, soaring prices of inputs and exorbitant interest rates offer both challenges and opportunities for businesses in the province to substantiate their vision and quality, find new ways and solutions to turn challenges into opportunities, seek out solutions to existing difficulties, and affirm their names and positions in the stormy market.
In the last six months of 2011, Binh Thuan province will continue pressing on the investment progress of infrastructure construction in industrial zones and power projects, particularly Tan Binh 1 seafood processing industrial complex, Thang Hai industrial complex, Vinh Tan 2 thermal power plant, Binh Thuan 1 wind-to-power plant, Thuan Nhien Phong wind power plant, and Phu Quy wind power plant. It will continue examining and reviewing investment projects to revoke licences of incapable or disqualified investors. It will also support companies to reallocate their production establishments into concentrated industrial zones, implement policies to assist them to manufacture products of local advantage, renovate equipment and technology to enhance productivity and quality, and lower product prices, and boost popularity, etc.
Hong Hanh
Vietnamese
