Accelerating Industrial Growth

According to the Department of Industry and Trade of Long An Province, in the first six months of 2011, exportation made significant progress. The province earned US$816.5 million from exports in the reporting period, fulfilling 47.9 percent of the full-year plan and rising 17.1 percent against the same period in 2010. Particularly, domestic companies made US$289.2 million (equal to 61.4 percent of the yearly plan and up 36.4 percent year on year); foreign-invested enterprises raked in US$527.3 million (equal to 42.7 percent of the full-year plan and up 8.7 percent year on year). The province’s major exports included rice, cashew nuts, apparel, footwear and aquatic products. The Long An Department of Industry and Trade estimated earnings at US$1,706 million from exports in 2011, up 17.9 percent against 2010. Specifically, Vietnamese-invested companies will contribute US$520 million, equal to 110.4 percent of the initial plan and up 15.8 percent year on year; and foreign-led enterprises will gross US$1,186 million, equal to 96 percent of the plan and up 18.9 percent year on year.

 

The province is forecast to import US$1,355 million in 2011, equal to 102.7 percent of the full-year plan and up 14.1 percent from 2010. Particularly, Vietnamese-invested enterprises will spend US$410 million, 110.8 percent of the annual plan and up just 1 percent year on year; and foreign-led companies will disburse US$945 million on foreign goods, equal to 99.5 percent of the yearly plan and up 20.9 percent against 2010.

 

2011 is the first year of implementing the five-year socioeconomic development plan from 2011 to 2015. Thus, the Provincial Party Committee and the Provincial People's Committee are determined to keep industrial and constructional growth of 21 - 21.5 percent a year. The province will develop the production of competitive commodities consistent with local strengths. It will mobilise resources of all economic sectors and attract more foreign investment to develop production and export, create well-branded products to meet market requirements, and realise the economic growth rate of 12.5 to 13 percent.

 

Mr Dang Van Lop, Director of the Department of Industry and Trade, said: To achieve these goals, the industry and trade sector of Long An province focuses on implementing synchronous solutions and four groundbreaking economic programmes: Mobilising all resources to build traffic, electric and water infrastructure systems for industrial development; Developing human resources, creating jobs and reducing poverty synchronously; Exploiting and utilising resources and protecting the environment; and Investing in building and developing new rural areas. To complete its assigned tasks, the Long An industry and trade sector will adopt a number of measures like studying the construction of preferential support policies to develop specific industrial sectors, making a list of priority investment projects, and coordinating human resource training. With its determination to pass through difficulties and challenges, the industry and trade sector will complete all tasks in 2011. It will also positively respond to the Politburo’s sound guideline of “Vietnamese people use Vietnamese goods first.” Long An province will promote domestic trade in 2011.

Mr Lop said the industry and trade sector of Long An province will continue strengthening trade promotion activities to support enterprises to stabilise their current markets and develop new ones by helping them take part in trade fairs and conferences, publishing handbooks on local agriculture, forestry, fisheries and handicraft sectors, organising business matching for Long An province-based companies with the rest in the country, enhancing the quality of electronic portals and e-commerce websites, publishing the Industry and Trade Bulletin on policy updates for enterprises, and organising market day promotions for Vietnamese goods in rural areas and industrial parks.

 

In addition, it will strengthen and develop linkages and cooperation with Ho Chi Minh City and neighbouring provinces in promoting investment, receiving technology, expanding material markets, selling products, building distribution, wholesaling and retailing systems, and developing power networks in rural areas.