Industry and Trade Sector: Many Effective Solutions to Support Businesses

2:10:15 PM | 27/5/2024

“The industry and trade sector of Phu Yen province has harmoniously applied effective support solutions for companies, especially in removing obstacles to speedier business recovery”, said Mr. Nguyen Thanh Tuan, Director of the Department of Industry and Trade, Phu Yen province.

Sugar (KCP) is always Phu Yen's strength

Could you briefly tell us about the goals and tasks of the Phu Yen industry and trade sector in 2024?

In 2024, the industry and trade sector will strive for the following goals: Industrial production value of VND24,600 billion, up 8.4% year on year; total retail revenue of consumer goods and service of VND52,610 billion, up 6% (including retail revenue of goods of VND42,000 billion); and export value of US$285 million, up 11.4%; and import value of US$190 million, up 15.5%.

To achieve or exceed the above goals, the sector is carrying out consistent tasks and solutions. First of all, the sector will attract investment resources for industrial and commercial development; support businesses to expand production; coordinate and facilitate ongoing projects to start operation soon like the 200-MW wind farm invested by HBRE Phu Yen Joint Stock Company and 50-MW Song Cau Green wind farm invested by Song Cau Green Energy Company Limited.

In addition, the sector will actively support businesses in digital transformation; apply new technology to increase productivity and reduce costs at each production and circulation stage; encourage businesses to apply advanced management technology, especially international management standards, and monitor and promptly grasp business difficulties to advise the Provincial People's Committee on prompt solutions.

Besides, the sector will actively provide information and documents on market, international economic integration and others; facilitate trade promotion; adopt measures to support export promotion with key products and industries that have strong advantages and competitiveness such as seafood, wooden furniture, cashew nuts, apparels and electronic components.

The sector will also adopt solutions to ensure supply and demand of goods, especially essential goods; build and develop a widespread retail distribution network with commercial centers, supermarkets, rural markets and retail stores; support businesses in implementing mobile selling programs, rural marketing programs and selling goods in rural, mountainous areas and industrial zones.

At the same time, the sector will boost industrial promotion to support rural industrial and handicraft development; and encourage enterprises to apply advanced and modern science and technology to expand business.

How has the industry and trade sector advised and implemented solutions and activities to improve the business investment environment, enhance the Provincial Competitiveness Index (PCI) and facilitate investors coming to Phu Yen?

First of all, the sector has organized activities to provide and disseminate information and guide businesses to implement commitments within the framework of international cooperation and free trade agreements that Vietnam is party to; and propagate free trade agreements on the mass media.

In addition to supporting businesses to foster trade, seek markets, trade opportunities and boost exports, especially market information about strong industries such as seafood, cashew nut, wooden furniture and garment, the sector will regularly update and disseminate policy mechanisms to support industry, trade and export to businesses.

Another important task is to always facilitate investors to carry out new energy and renewable energy projects; develop approved power projects as planned and smart grid systems to ensure safe electricity supply and minimize power loss. In particular, the Department of Industry and Trade has firmly directed departments, divisions and affiliated units to promote administrative reforms; especially administrative procedures relating to industry.

Industrial promotion has focused on supporting manufacturers to apply modern machinery and equipment and improve packaging designs to enhance the quality and competitiveness of industrial and handicraft products; facilitate and assist businesses to take part in exhibitions and fairs to expand cooperation and product consumption.

What are the approaches of Phu Yen province to attract investment for industrial, commercial and service sectors in the coming years?

Phu Yen province has much potential to attract investment in industrial and commercial development.

Located on the main traffic axis plus the North - South railway, a convenient transportation network helps smooth connectivity with Southern Central Coast and Central Highlands of Vietnam and Northeast of Cambodia. Additionally, Vung Ro Seaport and Tuy Hoa Airport help the province become an interchange hub for North - South and East - West economic and goods exchanges. Thus, Phu Yen can tap the market demand of other provinces for locally advantageous products and cooperate with them to develop industry and trade.

Phu Yen has a 289-km coastline with many lagoons, bays and estuaries such as Xuan Dai Bay, Cu Mong Lagoon, O Loan Lagoon, Vung Ro Lagoon, Tien Chau Lagoon, Da Dien and Da Nong estuaries which are favorable for fish farming and building fishing wharves and ports to serve the processing industry. The province also has abundant input sources of agriculture, forestry and fishery as well as rich mineral resources with many types of high economic value and large reserves for manufacturing a wide range of products for domestic and export demands.

From those advantages, the province aims to attract investment for the industry and trade sector, including:

Industrially, the sector will focus on metallurgy, oil refinery, energy production (like wind power, solar power, new energy such as hydrogen and green ammonia), chemicals (like pharmaceutical chemicals and fertilizers), agricultural processing, mechanical engineering, digital product manufacturing  (electronic equipment, telecom equipment, information technology, software, chip design and manufacturing), supporting industries, apparel, building materials manufacturing, mining and mineral processing and biological industry.

Commercially, the sector will concentrate on developing trade centers, supermarkets, grocery stores, convenience stores, specialized stores, general stores and especially logistics centers.

What opportunities will the Phu Yen Provincial Planning for the 2021 - 2030 period open up for the development of the industry and trade sector?

The implementation of the Provincial Planning is a condition to attract investment capital, external technical advances and internal resources to awaken potential advantages and create development breakthroughs. This is also an opportunity to restructure production and business activities in accordance with market development trends, improve investment performance, and enhance product competitiveness. The formation of industrial zones and economic zones as planned is an opportunity for the industrial sector to entice investors.

After the planning was approved, the province held a meeting to announce it and promote investment and disclose a list of priority projects to attract investment into the province and Phu Yen Economic Zone. On that basis, the Department of Industry and Trade will continue to coordinate with relevant agencies to facilitate investors to quickly deploy their projects, especially steel production, petrochemical refining, renewable energy, new energy and high-tech projects.

Companies can expand export markets to WTO member countries, ASEAN, the EU, Japan, the US and others. The department is focusing on supporting them to make strong products and seek to expand into new markets.

Thank you very much!

Nguyen Bach (Vietnam Business Forum)