11:31:39 AM | 26/10/2006
Tien Giang is a province in Mekong Delta region well-known for agricultural advantages; however, the province has made positive progress in industry, especiallyin its processing industry, in recent years.
Brining My Tho to an industrial hub
My Tho City’s industry and handicraft have encouraging development steps. The setup of My Tho Industrial Zone and Trung An Industrial Complex have generated a new face for the industrial sector of My Tho City in particular and Tien Giang Province as a whole. In the first six months of 2006, the total industrial production value of Tien Giang Province was estimated at VND1,591.2 billion (US$100 million), an increase of 31.5 per cent compared with the same period last year.
Notably, the industrial production value of My Tho City reached VND658 billion (US$42.12 million) in the six months, fulfilling 65.8 per cent of the annual plan. My Tho was regarded as one of the fastest-growing region. Most businesses in My Tho City have small and medium sizes, limited capital sources and limited approaches to the international market. Therefore, the Party Committee of the city has developed a project to buy modern equipment and machinery. With this programme, the local businesses are able to raise production values and production scales and produce high quality products to expand the markets.
The investment for the industrial sector in the first six months of 2006 was VND885 billion (US$55 million), an on-year increase of 24.2 per cent. During the six-month period, Tien Giang had several large-scaled projects like the establishment of Vinh Quang Seafood Joint Stock Company with an investment of VND22.7 billion, which began operation in February 2006, the construction of aquatic feed plant invested by Uni-President Vietnam Tien Giang Co. Ltd with an estimated capital of US$25.38 million, which became operational in mid-July 2006 and other large projects, which will play a important role in developing the industry of Tien Giang Province in the coming time.
Enhancing processing industry
The programme to develop the processing in the 2001-2005 period had a total of 31 focal projects with a combined investment capital of VND604.45 billion (US$37.78 million). To date, 29 out of 31 projects have been carried out with an aggregated investment capital of VND516.75 billion (US$32.25 million). In 2005, the total industrial production value of Tien Giang Province was VND2,613 billion (US$163.3 million), a yearly increase of 17.28 per cent in the 2001-2005 phase. The export value rose 15.96 per cent a year on average. Several sectors have high growth such as aquatic product processing, animal feed production, vegetable and fruit processing and garment. Most new projects are equipped with modern technologies and operated by international quality management system to produce exports for demanding markets like the United States and European nations, to reduce production costs and to sharpen the competitiveness of local products.
Needing to zone material areas, Mr. Nguyen Van Cong, Deputy Director of Tien Giang Department of Industry
Tien Giang and provinces in Mekong Delta region have advantages in expanding the processing industry as they have profuse material sources. However, the local materials can only satisfy the quantity, not quality. To develop the industry, particularly processing industry, into a spearhead sector, the province should intensively focus on rezoning the material areas and setting up specialised zones to supply qualified and stable sources for the processing industry. In addition, the industrial development must be combined with the agriculture and investment. The province must create favourable capital conditions for enterprises to boost the industry and the processing industry and to increase the competitive capacity of local companies after the global integration.