Priorities to Processing and Supporting Industries

8:34:44 AM | 4/12/2023

Tuyen Quang province has witnessed a consistent rise in the number of industrial processing and supporting investment projects, contributing significantly to the augmentation of industrial production value and local employment opportunities. 

The headphone manufacturing and processing factory of Future Of Sound Vina at Phuc Ung Industrial Cluster, Son Duong district, Tuyen Quang province

Aligned with the resolutions of the 17th Tuyen Quang Provincial Party Congress (2020 - 2025 term), the strategic emphasis on promoting key sectors such as agricultural and forest product processing, construction material manufacturing, supporting industries, mechanics, electronics, and garments remains pivotal for stimulating economic growth. The Department of Industry and Trade has diligently implemented strategic measures to attract investment capital, yielding commendable initial results.

Presently, Tuyen Quang hosts 97 industrial processing investment projects, encompassing 15 agricultural product processing projects, 25 forest product processing projects, 28 construction materials manufacturing projects, seven mining and processing projects, and 11 textile, garment and footwear projects. In 2021 alone, the province attracted 22 projects with an investment capital exceeding VND4,100 billion, primarily concentrated in agricultural and forest product processing, construction materials manufacturing, supporting industries, mechanics, electronics and garment sectors. Noteworthy operational projects include the Future of Sound Vina headphone equipment manufacturing factory, the K-Electronic II electronic components manufacturing and assembling factory, and JW agricultural product processing factory.

Mr. Nguyen Trung Kien, Deputy Director of the Department of Industry and Trade, emphasized Tuyen Quang's considerable potential for attracting and developing industrial projects, especially in processing and supporting industries. The province boasts abundant and stable input supplies, a workforce that meets businesses' recruitment requirements, and continuously improving transportation and industrial infrastructure. Consequently, the number of industrial processing and supporting investment projects has experienced consistent growth over the years.

As of October 2023, the estimated industrial production value reached VND17,419 billion, fulfilling  84.1% of the full-year plan, reflecting an 18.4% year-on-year increase. Significantly, the production value of the processing and supporting industries constituted a substantial portion of the province's total industrial production value.

Looking ahead, the Department of Industry and Trade commits to sustaining the scale and capacity of production and processing projects. The focus will be on expeditiously implementing practical and timely support policies for agricultural, forest and aquatic product processing projects. The department will actively monitor and encourage industrial production enterprises to operate at maximal capacity, striving to achieve planned industrial growth. Additionally, it will collaborate closely with relevant departments, branches and local authorities to enhance investment promotion, leveraging domestic and foreign resources to develop industries where the province holds advantages, such as hydroelectricity, agricultural and forest product processing, construction materials manufacturing, supporting industries, electronic assembly, mechanical engineering and metallurgy.

Furthermore, the department will execute the Tuyen Quang Industrial Promotion Program for the 2021-2025 period. This involves close coordination with relevant agencies to formulate and execute annual industrial promotion plans, manage national and local industrial promotion funds judiciously, and provide effective and practical support to businesses adopting scientific advances and technological innovations. The promotion of advanced green and eco-friendly technologies in agricultural processing facilities, components manufacturing, mechanical engineering and electronics will be actively encouraged.

Source: Vietnam Business Forum