Thai Binh Creating Advantages to Pull Investment into Industry and Trade Sector

 

Industrial production value (based on constant price set in 2010) was estimated at VND30,523 billion (US$1.5 billion) in 2013, up 11.87 per cent over 2012. The index of industrial production (IIP) in 2013 rose 10.03 per cent over the previous year. In the first six months of 2014, the industrial production value was projected at VND16,135.9 billion, up 10.3 per cent from a year earlier, and the index of industrial production climbed 4.33 per cent year on year in the first six months of 2014.

 

Some major industrial projects in the province are being invested as scheduled. The ammonium nitrate plant, with a designed annual capacity of 200,000 tonnes, is planned for completion and operation in the fourth quarter of 2014. Hanoi Brewery 2, with an annual output of 100 million litres, is running at half of designed capacity, or 50 million litres. The first and second thermal power plants in Thai Binh Power Centre, with a combined capacity of 1,800 MW, are planned to start generating electricity in 2016 and 2018, respectively.

 

In the trade sector, total retail revenue was estimated at VND23,040 billion in 2013, up 11.58 per cent year on year. The export turnover was projected at US$975 million in 2013, up 20.92 per cent year on year, while import spending reached US$896.8 million, up 19.54 per cent from a year earlier. Retail revenue valued VND10,655.5 billion in the first six months of 2014, up 14.35 per cent year on year.

 

In trade promotion, we actively participated in conferences aimed at removing difficulties facing enterprises, including credit, interest rate, land and environment issues. We closely and actively implemented Decision 17/UBND on interest subsidy for loans used for ground levelling. Besides, we regularly advised and solved problems arising from big projects such as power centre, ammonium nitrate plant and coal exploration project. We especially paid attention to removing difficulties against transport projects.

 

Export promotion and investment promotion in foreign countries were carried out. The department reached Japan in August 2014, Russia and Czech Republic in September. The department will lead a delegation to South Korea and Myanmar in November, while considering introducing apparels, porcelain, beer and soft drinks to Laos and Cambodia.

 

We have advised the provincial government on policies on industrial, agricultural, health, education and handicraft development in the province. We have also based on difficulties and opinions of enterprises to suggest the provincial government issue policies to help them deal with difficulties, particularly in site clearance, power access, transportation, personnel recruitment and personnel training.

 

We have also reviewed the development of industrial zones in order to boost investment attraction results and have proper development policies.

 

Basically, the current investment climate in Thai Binh is now very pleasant to all investors. This is why the province is a favoured destination for domestic and foreign investors. The Department of Industry and Trade will continue attracting investment capital for supporting industries, high-tech industries, environment-friendly sectors, and agricultural sector. The province will spare well-located positions to build industrial zones to house investment projects, while stepping up administration reform to ease procedural works for investors. The province will also focus on attracting investment capital from Japan.