Working together with Businesses to Get through Tough Times

12:40:49 PM | 22/6/2020

In the first months of 2020, determined to live through the devastating Covid-19 epidemic, the Thai Binh industry and trade sector has made ongoing efforts to fulfil its sector development tasks and targets to have important, decisive contributions to the province's GRDP growth in 2020. The sector has focused on business support solutions to achieve these goals.

Right from the beginning of 2020, the Department of Industry and Trade actively advised the Provincial People's Committee to host a ceremony to launch an emulation program to encourage local businesses to boost business activity, thus creating a new spirit and high determination for the business community and all employees in the province. The sector has focused on effectively implementing Plan 84/KH-UBND dated December 20, 2016 of the Provincial People’s Committee to carry out the Industry and Trade Sector Restructuring Scheme to 2020 and further to 2030.

In the first quarter of 2020, the province’s industrial production value was estimated at VND16,453 billion, up 11.7% over a year ago. Total retail sales of goods and services were forecast to rise 6.3% year on year to VND11,852 billion. In the March quarter of 2020, high-performing industrial products included speaker drivers (nearly 6,819,000 pieces, up 52.7%), animal feed (25,588 tons, up 46.7%), electricity (688 million kWh, up 22.6%), and ammonium nitrate product (50,769 tons, up 21.7%).

By 2020, the province planned to build 12 industrial zones covering 2,511.13 ha and planned to expand to 2,811.13 ha by 2030 (Decision 3494/QD-UBND dated December 28, 2017 of the Provincial People's Committee). Currently, Thai Binh province has set up seven industrial zones on a total area of 1,341.3 ha. In particular, the leased industrial land area is 369.29 ha and the remaining rentable area is 323.51 ha. The land occupancy rate is 93.5%. Industrial zones now house 156 operational projects, which have already spent VND16,896 billion (accounting for 84.85% of their registered investment value) and employed 55,316 workers. The province also planned 50 industrial complexes covering 2,578.6 ha. 43 industrial complexes were established, with a total area of 2,283.6 ha, of which 42 had detailed plans, covering 1,688.25 ha, of which the rentable industrial land area is 1,240.08 ha). As much as 399.35 ha of land was leased, or 32.2% of the rentable land. At present, investors registered to invest over VND7,831 billion in 301 projects and employ 74,638 workers. Particularly, 242 projects are in production and 27 projects are under construction. They have already spent VND4,985 billion (63.66% of the registered value) and employed about 30,450 workers.

At present, the department is also consulting the Provincial People’s Committee on solutions to ensure supply and demand balance and stabilize the market; directing enterprises to manufacture anti-Covid-19 apparels; providing information on seafood import and export with China for local importers and exporters; and informing enterprises of goods clearance processes through border gates in Quang Ninh, Lang Son and Lao Cai provinces. In addition, the department is monitoring operations, advising the provincial government to remove difficulties and obstacles for investment projects, especially large projects like experimental coal mining projects in the Red River coal basin, Thai Binh power center, low pressure gas plants and wind power projects.

Source: Vietnam Business Forum

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