Quang Ngai’s Industry & Trade Boasts Repeated Breakthroughs

With much effort to expand the market, diversify export products, actively handle difficulties for enterprises, Quang Ngai’s Industry and Trade sector has continuously made breakthroughs, strongly developed both in quantity and quality, and confidently asserted its key position in local social - economic development.

 

Provincial industrial production value in 2010 was VND 17,740 billion, 2.56 times that of 2009, which helps to raise the proportion of industry – construction in the economic structure from 46.12 percent in 2009 to 58.95 percent in 2010. Industrial production saw a sharp move upward, mainly as in the last six months of 2010, Dung Quat oil refinery factory operated at full 100 percent of capacity designed (6.5 crude oil per year), manufactured product reached 5.72 million tonnes, increasing by 3.75 fold against 2009; besides, some other big factories in economic zone and industrial park were also put into operation and manufactured new products.

 

In the commercial field, total retail of goods and turnover from consumer services in 2010 were over VND 17.229 billion, increasing by 28.58 percent against 2009; particularly export turnover gained over US$270 million, 92.5 percent higher than 2009. The market was stable and moving in a positive direction; supply and demand of commodities, especially necessities, were still ensured, despite buying power’s increasing tendency. Retail markets, stores and supermarket networks continued to be built, forming a new distribution network in all provincial areas to meet resident’s needs. Supermarkets become a modern business form with many conveniences and change buying habits of people. The petrol and gas station network is also receiving investment, fulfilling the increasing need for production and consumption.

 

In 2011, the industry and trade sector sets the following goals: industrial production value of VND 20,857 billion; increasing by 17.6 percent against 2010; and export turnover of US$ 305 billion, increasing by 12.9 percent against 2010. According to Deputy Director of Department of Industry and Trade Truong Quang Dung, 2011’s targets in industrial, business development and export planned by the provincial People’s Committee are generally demanding. Meanwhile, at the moment, prices of materials for production, food and foodstuff still rise, which has negative impacts on industrial, commercial production and export activities. However, by concentrating on implementing key solutions to curb inflation, stabilize the macro-economy, and ensure social welfare under Resolution 11/NQ-CP dated February 24th 2011 by Government, there has been no big fluctuation in industrial and business operation status in Quang Ngai over the past time.

 

The oil refinery and other big projects in Dung Quat Economic Zone and industrial parks still ensure production activities; besides, there are some projects finished and ready to put into operation in 2011, which will increase provincial industrial production value. Besides, the market is still active, power demand is stable, goods’ supply and demand balance is kept under control, total commodity retail sale and turnover from services continues to rise year on year. The sector has also built and implemented specific action programmes and plans on industrial, commercial development and export in 2011; and initiated movement among officials in the event of the 60 year ceremony of Industry and Trade’s establishment.

 

Mr Dung stressed: “With positive signals, it is believed that the whole industry and trade sector will beat and exceed the goals in 2011, highly increasing provincial industrial production value – business development, contributing to local modernization and industrialization.”