Tien Giang Province’s Industrial Sector with In-depth Integration

 

In 2009, the industrial production valued VND7,200 billion, reaching the full-plan and increasing 17.6 percent from a year earlier, of which the non-state sector generated VND5,147 billion, up 24.8 percent thanks to the operation of new seafood companies; the foreign-led sector made VND1,783 billion, fulfilling 894.9 percent of the yearly plan and rising 4.1 percent from 2008 thanks to effective operations of several companies like VBL Limited (beer), TongWei Vietnam Limited (fish feed production); and the local economic sector raked in VND105.2 billion, completing 66.6 percent of the full-year plan.

 

The export turnover is estimated to reach US$416 million in 2009, or 109.5 percent of the full-year plan, of which Vietnamese-invested businesses earned US$385 million, or 92.5 percent of the province’s total export revenues while foreign-led enterprises made US$31 million, or 7.5 percent of the total export turnover. Key exports of Tien Giang included rice, processed seafood, garments, handicrafts and farm produce. Last year, seafood exports accounted for 63 percent of the province’s export turnover.

 

On the domestic market, with active measures to rein in inflation and maintain macroeconomic stability as guided by the Prime Minister, in 2009, the market was relatively stable and prices of key products like rice and agricultural materials stably increased, except for some volatile commodities like gold and petroleum. Cement and fertiliser prices decreased. In the last months of 2009, the consumer price index climbed 4.4 percent.

 

In general, in 2009 the total retail sales of goods and services were estimated at VND18,300 billion (US$1 billion), up 14.65 percent from 2008. Last year, the province focused on upgrading and building new markets and shopping centres like Cai Lay shopping centre, Thien Ho shopping centre (Cai Be), Cho Gao shopping centre, Tan Hoi, Phu Quy, Tan Binh, Long Khanh and Tam Binh markets (Cai Lay district), Hoa Loc and My Loi markets (Cai Be district), Vinh Kim fruit market, etc.

 

Together with the general development of the trade and industry sector, last year, the Department of Industry and Trade also helped local enterprises to attend training courses, trade fairs or exhibitions. Additionally, the department also assisted enterprises to deal with their difficulties to boost production, business and export.

 

In 2010, the trade and industry sector of Tien Giang province aims to increase the industrial production value to VND8,520 billion, up 18.3 percent year on year and earn US$440 million from exports, up 5.8 percent from 2009.

 

Mr Dang Thanh Liem, Director of Tien Giang Department of Industry and Trade, said: In order to stabilise production and business activities in the future, the department will focus on implementing commercial and industrial development plans and projects.