Kien Giang Maintains High Growth in Industry and Trade

5:20:05 PM | 14/12/2011

With tireless efforts to promote local potential and advantages, Kien Giang has made positive moves in all fields. Among those, Industry and trade has played an important role in developing the provincial economy in the direction of modernization – industrialization.
Production and business activities in Kien Giang province have been maintained and developed with high annual growth. In the first ten months of 2011, industrial value was over VND 11,492 billion, increasing by 8.1 percent year on year. Industries with advantages of natural resources and materials such as building materials, cement, and agro-fishery processing were paid attention, manufactured products were competitive in both national and international markets. Key industries such as building material production and agro-fishery product processing boosted in investment have brought about high efficiency, actively contributing to general growth of the economy. To reach highest effectiveness in developing key industries, the province has actively developed 5 industrial zones (IZ) (Thanh Loc, Thuan Yen, Xeo Ro, Tac Cau, Kien Luong 2), 11 industrial complexes and made detailed planning for the remaining industrial complexes in the city, town and districts.
Besides industrial production, local commercial-business activities have been eventful. Total retail sale and turnover from services in the first 10 months of 2011 were over VND 28,714 billion, increasing by 26.97 percent year on year. Goods circulation was stable, in the direction of matching production with consumption. Total import and export turnover, especially export saw high growth thanks to good consuming demand of large markets, was estimated US$545.14 million, equal to 102.86 percent of the plan and increasing by 42.34 percent year on year. Export markets also continuously expanded, apart from traditional markets such as America, Japan and the EU, to new potential markets. Goods distribution networks expanded, adequately fulfilling consuming demand.
In the current context of economic difficulties, the above positive achievements have somehow reflected activeness and great efforts of industry and trade sector as well as enterprises in Kien Giang province. Promoting such results, industry and trade sector targets industrial production value growth rate of 14.2 percent in 2011-2015 and 16 percent in 2016-2020. The province also diversifies products and gives priority to high tech. The province is developing industry in the direction of promoting potential and advantages such as building material production, agro-fishery processing, mechanical-ship building industry, clean industry, new material industry, and food processing industry, along with building infrastructure in industrial zones, sites and complexes to create a preferential investment environment.
Concerning commerce and service, the province set a growth rate goal of 16.2 percent in 2011-2015, of 17 percent in 2016-2020. The core direction is to expand markets, ensure smooth circulation of goods, create stable markets for provincial agro-fishery products and industrial ones; especially actively hold training courses on import and export professionalism, business promotion skills, seek new markets for local enterprises. Build and gradually complete network of market, plazas and supermarkets in the province as well as make economic-social planning, urban and residential planning; boost export of provincial key products of competitive advantages such as rice, frozen shrimp, fish, frozen cuttle-fish, fruit; and develop more new products. Promote export at site, foster service export, target to gain export turnover of US $900 million in 2015 and US $1,300 million in 2020.
Thien Tan