Phu Yen Department of Industry and Trade Targets Above-average Growth

5:57:19 PM | 20/11/2014

In recent time, the difficult economic situation and low consumption have negatively affected the performance of enterprises in the province of Phu Yen. However, at the beginning of the year, the Phu Yen Department of Industry and Trade has focused on implementing the action plan of the Ministry of Industry and Trade, which contributed to successfully attaining the development goals of industry. The key indicators of industry have achieved high growth rates, creating motivations for development for 2015.
 
In 2013, industrial production rose 6.2 percent over the previous year. Industrial production in the first 6 months of 2014 is estimated to increase by 7.3 percent compared to the same period in 2013; total industrial production value is estimated at VND6852.45 billions, accounting for 46.75 percent of the annual plan and increasing by 8.25 percent over the same period. Overall, the main products of the province are growing steadily; they are seafood processing, garments, fertilizer, sugar crystallization, pharmacy, starch, wood handicrafts exporter, cashew and cement. Besides, the Vung Ro oil refinery project of the Vung Ro Oil and Gas Company has been started. This is a big project and it will contribute greatly to the development of the industrial sector and the economic restructuring of the province in the future.
In the field of trade, in 2013 the total retail revenue of goods and social services reached VND17.497 billion, accounting for 97.21 percent of the targeted plan and increasing by 9.5 percent compared to 2012. The export turnover reached US$ 110.5 million, or 58.18 percent of the targeted plan, decreasing by 15.75 percent compared with 2012.
 
Total retail sales of goods and social services in the first 6 months of 2014 was estimated at VND9.539 billion, accounting for 43.47 percent of the annual plan and increasing by 11.38 percent compared to the same period in 2013. The export turnover was estimated at US$ 41.367 million, reaching 27.58 percent of the plan year and decreasing by 9.32 percent over the same period. The main reason of the decreasing number of exports is turmoil in the market. The import turnover was estimated at US$ 21 million, reaching 32.23 percent of the targeted plan and increasing by 43.2 percent over the same period.
 
The commercial infrastructure has been gradually improved; the distribution network of the wholesale and retail system of the large companies is extended. The markets of the rural and mountainous areas continue to be strengthened; the distribution networks of the wholesale markets and retailers are extended, creating favourable conditions for small retail and household businesses to develop various types at different levels. In 2014, the Phu Yen Department of Trade and Industry has also upgraded the first graded market and built up the third graded market and formed the distribution networks to better serve the needs of the consumers.
In the field of the industrial and trade promotion, the Department of Trade and Industry has conducted the training courses on sewing, rattan, and wooden handicraft for 1,000 workers in the province; the total budget is valued at VND1.5 billion. The project has supported businesses to apply modern machinery to produce shredded, dried beef fibres and adopt heating technology to dry "banh trang".
 
In addition, the Phu Yen Department of Trade and Industry advised the provincial people's committee to organize trade fairs in 2013 in Phu Yen and the Fisheries- Industry- Trade Fair in the framework of Fisheries Festival in 2014, and organized successfully the trade mission in the Savannakhet province and some provinces of Laos. Besides, the department has organized many festivals to introduce Vietnamese products in rural markets to serve people's needs for essential commodities.
 
According to Dao Tan Cam, Director of Phu Yen Department of Trade and Industry, the department has taken a series of comprehensive and effective measures to curb inflation, stabilize the economy and social security, remove the difficulties and problems of the enterprise, and tightly direct enterprise to control production costs to ensure low product prices and improve production and operation efficiency. The department also organizes seminars to help businesses learn more about the price stabilization program for essential goods, cooperate with functional offices to supervise the markets to control prices and prevent speculation and price increases and strictly sanction legal violations like smuggling and fraud, unlawful business, manufacturing and sale of counterfeit goods. This helps to contribute to restructuring commercial activities in accordance with the law.
 
According to Dao Tan Cam, the whole industry will further attract investment resources to develop the key industries, especially projects in the fields of petrochemicals, mechanical engineering, basic chemicals and pharmaceuticals. This creates favourable conditions to help the businesses accelerate the implementation of investment projects to create new products and increase industry production capacity. The Phu Yen Department of Trade and Industry will also strengthen supporting measures to help businesses seek new customers and expand export and domestic markets to ensure the achievement of the targeted plans.
 
Thien Hoang