Constant Improvement on Industrial Production Value

Industry and handicraft are now not the biggest contributor to the economy of Vinh Long province, but they are currently diverse, based on local material and labour resources. Major industrial sectors include mechanical engineering, electrical engineering, electronics, metal processing, chemical, construction material, glass, ceramics, food processing, garment, textile and leather. The most important industries of the province are food processing, construction material production, chemical and pharmaceutical.

 

In the 2001-2011 period, the average annual industrial growth rate was 19.39 percent. This period witnessed a strong growth of private sector (which expanded 19 percent a year on average) and foreign investment sector (which jumped 50 percent annually). Many industrial companies invested to scale up production, renovate equipment and shift production to market demand. As of 2011, the value of industrial production increased 12 folds over that in 1992. The proportion of industry - construction to the province's gross domestic product (GDP) rose from below 10 percent in 1992 to 16.24 percent in 2011. Currently, the province has 11,210 industrial production companies which employ 68,172 workers. Private companies account for 96.53 percent of total industrial - handicraft production units. Fast-growing industrial sectors include footwear, seafood, export pottery, apparel, chemical, pharmaceutical, and fine-art handicraft.

 

The province has two industrial parks and one industrial line. Presently, the stable operation of industries inside industrial zones has positively contributed to the province’s economic growth. They are investing to expand production scale and applying advanced technologies transferred from developed countries to enhance labour productivity.

 

Mr Nguyen Minh Tho, Director of the Department of Industry and Trade, said: "In the past years, the industrial and handicraft sectors of Vinh Long province have maintained high growth rates. Industry and handicraft in rural areas continue to expand and develop, especially cottage industries and traditional handicraft production villages.” Notably, industrial development is driven by local material sources and labour force to raise incomes and improve living standards for local people. Infrastructures inside industrial zones like water supply, traffic routes and services have been invested to promote local potentials and advantages.

 

He said industrial and handicraft sectors of Vinh Long province have made many major breakthroughs in the short time thanks to close leadership and direction of the Ministry, the Provincial Party Committee, the People’s Council, and the People's Committee. The authorities hold regular meetings with businesses to seek measures to address problems and facilitate enterprises to develop. The Department of Industry and Trade together with competent agencies and district-level industry and trade committees has close and strong coordination, support and facilitation to realise development tasks. Many companies have invested to upgrade equipment and technologies to enhance competitiveness, raise working skills for workers, and boost labour productivity and business efficiency.

 

Better infrastructure inside industrial zones supports investors to deploy new projects and expand production capacity. Trade, investment and trade fair activities have created favourable conditions for enterprises to enlarge domestic and international markets, acquire new experience, strengthen business relations, boost product and brand popularity, capture markets and outline business strategies.