Industry and Trade Sector Actively Supporting Business and Production

9:32:04 AM | 15/7/2022

The industry and trade sector of Nam Dinh province has introduced many business support solutions to boost manufacturing and business operations, and achieved remarkable results. Industrial production and trade have grown highly. Vietnam Business Forum has an interview with Madam Vu Thi Kim, Director of Nam Dinh Department of Industry and Trade, on this matter. Ngoc Dung reports.

Could you briefly introduce outstanding achievements of the Nam Dinh industry and trade sector in recent years?

In the past time, the Department of Industry and Trade of Nam Dinh province strictly, drastically and effectively implemented measures to prevent and control the COVID-19 epidemic as directed by the Government, the Prime Minister and central authorities. The department also executed resolutions of the Government and plans of the Provincial People's Committee on business support tasks in a bid to remove difficulties faced by local enterprises and develop their production and business operations to help Post-COVID-19 economic recovery. Industrial manufacturing and trade grew well in the province as follows.

The province’s industrial manufacturing extended recovery momentum and achieved good growth. The Index of Industrial Production (IIP) rose by 11.8% over 2021. High-growth industries include processing and manufacturing, electricity production and distribution, water supply and wastewater management and treatment.

Regarding trade, the export value was estimated at US$873.7 million, up 16.1% year on year, while the import value was forecast at US$502.1 million, up 20.7%.

The reopening of social and economic activities in the new context of COVID-19 epidemic has created positive momentum for trade and service recovery in the province. In the first four months of the year, the consumer price index (CPI) rose 2.3%. Total retail revenue of consumer goods and services climbed 12.4% year on year to VND19,419.1 billion.

With effective control of COVID-19 epidemic, all markets, supermarkets, and convenience stores in the province have worked normally to keep the abundant supply uninterrupted and keep relatively stable prices.

To support enterprises to restore production and business, what activities and solutions has the industry and trade sector focused on?

The Department of Industry and Trade reduced electricity bills for people and businesses; organized meetings with associations and investors to listen to and support them to remove difficulties and stabilize production and business activities.

Up to now, the province’s production has always guaranteed. Most enterprises restarted their production and business activities to strengthen a solid position for economic development. In addition, given rising global and domestic petroleum prices, the department promptly conducted inspection to learn about petroleum reserves and supply and regulatory compliance of distributors and retailers of petroleum products in the province.

What are prioritized areas of the industry and trade sector in the coming time and solutions for sustainable development and value enhancement?

The industry and trade sector of Nam Dinh province is determined to develop industry, trade and services into key economic drives, facilitate rapid economic restructuring to bring industry, construction and services to 89% of the GDP by 2025.

Specifically, its key development targets in the period 2020-2025 include the annual industrial growth of 14-14.5%, the merchandise export value of over US$4 billion in 2025 and consumer retail revenue growth of 12% a year.

Accordingly, the sector figured out industrial development orientations by prioritizing investment for high-tech industries and creating products of high added value such as mechanical engineering, electronics, chemicals, pharmaceuticals, biotechnology, and supporting industries. It will invest to expand and upgrade industry, productivity and product quality for new industries like textile and garment and agricultural processing; focus on developing major and large-scale industries while attaching importance to small and medium-sized enterprises to mobilize all investment sources for industrial development; and continue to coordinate with other sectors to advise the Provincial Party Committee and the Provincial People's Committee to strongly improve the investment and business environment and support people and businesses to stabilize production and business activities.

Thank you very much!

Source: Vietnam Business Forum