New Strength for Phu Yen Industry & Trade

10:22:41 PM | 31/5/2011

Starting at a low point, after 20 years of continuous effort, industrial and trade activities in Phu Yen have born sweet fruit.
2010 marked an important step in the provincial agenda of modernization, when key industrial criteria all held a higher growth rate than in 2009. To shift the economic structure toward industry, the province invested in development of technical infrastructure, creating conditions to draw investment to the sector. At the moment, Phu Yen has formed some crucial industries such as agricultural – aquatic – forestry manufacturing, beer and brewing, pharmacy, electricity generating etc. Every year, local industry launches many products into the market. In 2010, total provincial industrial production value reached VND 4,800.5 billion, increasing by 15.4 percent against 2009. Key industrial products of strong growth are aquatic manufacturing, up by 48.9 percent; cashew nut, up by 13.2 percent; and pharmaceuticals, up by 23.7 percent.
Besides strong development of industrial production, commercial activity also saw dynamic movement. The total value of retail selling and social service turnover came up to VND 9,340 billion, increasing by 26.9 percent against 2009. Some commercial works have been formed and developed, such as Co-opMart Tuy Hoa supermarket and Tuy Hoa market. Export turnover was US$120 million, up by 26.2 percent year on year. Products with increased export turnover include wooden products up by 14.5 percent and construction pano glass up by 40.5 percent.
In general, despite facing many challenges, thanks to strong measures and efficient management, Phu Yen Industry and Trade kept a stable growth rate in 2010. The industry timely addressed difficulties, boosted industrial, commercial, service and exporting development in the direction of better quality and efficiency, positively contributing to provincial economic-social development.
Mr Dao Tan Cam – Director of Phu Yen Department of Industry and Trade said, with such bright achievements, industry and trade has helped empower Phu Yen, creating new power and strength for provincial development in coming years. According to Mr Cam, in 2011 – 2015, industry targets annual GDP growth of 18 -19 percent, total retail selling and service aims for 23 – 25 percent, and export expects 23 – 24 percent; gaining export turnover of US $ 350 million by 2015. To meet the goal, Phu Yen will focus on boosting agricultural – forestry – aquatic manufacturing together with planning material zones. The province will assist manufacturing sites to develop and improve production efficiency, and appeal for investment in aquatic manufacturing factories that can apply modern technology, aiming at export. At the same time, it will prioritize developing economic zones, industrial parks and complexes; complete infrastructure for Nam Phu Yen Economic Zone and planned industrial zones, as well as invest in industrial parks to meet the development needs of rural and small handicraft industries.
For commercial business, Phu Yen will develop modern selling forms; pay attention to developing rural and mountain markets; and urge economic sectors to develop commercial infrastructure as planned. The priority will be to meet domestic market needs, especially the Central Highlands market. The campaign “Vietnamese consuming internal goods” will be well implemented, focusing on quality products of Phu Yen. At the same time, enterprises will be encouraged to expand markets and boost exports.
 Duy Quang