Investment Thứ sáu, 03/05/2019 08:08

Ninh Binh sees high growth in industrial production in Q1

The northern province of Ninh Binh recored an industrial production index growth of 21.4 percent in the first quarter of 2019, according a report released by the Department of Industry and Trade.

Garment production line in NienHsing company, in Khanh Phu industrial zone.
Garment production line in NienHsing company, in Khanh Phu industrial zone.

In the first quarter, the province’s industrial production reached over 14.4 trillion VND, posting an year – on – year increase of 21.4 percent .

High growth was seen in a number of sectors, including automobile assembly (60.1 percent), garment (29.1 percent), camera module (30.3 percent);cellphone earbuds (18.2 percent) and urea fertilise (38.6 percent). However, cement and clinker production suffered a drop of 14.2 percent; NPK fertiliser down 2.5 percent.

According to Hoang Trung Kien, Director of the provincial Department of Industry and Trade, the growth index reflects the efficiency of state management in the field of industry and development orientation. The policies that received high praises from economic experts and enterprises are Resolution No 07 – NQ/BCSĐ, dated February 13, 2017 on leading and steering the development of automobile assembly and electronic industry into a spearheaded economy; contributing to raising the province’s budget; the Program on supporting the province’s industry by 2025; and policies and mechanisms to improve the investment and business climate, increasing the provincial competitiveness index, and easing difficulties facing enterprises.

Besides, the planning of developing industrial clusters has helped draw more projects into the province.

In 2018, the Department of Industry and Trade submitted to the provincial People's Committee a plan on establishing new industrial clusters, including small-and medium-sized agricultural and sea food processing areas.

Ninh Binh has to date attracted 170 projects into its industrial parks with total registered capital of over 11 trillion VND, creating jobs for 44.600 people.

Total revenue of the operating companies and plants in 2018 reached 5.3 trillion VND, contributing 85 billion VND to thestate budget.

Along with advantages, there are lots of disadvantages and difficulties that require the joint effort of authority and the enterprise community.

Therefore, Ninh Binh has defined increasing the efficiency of investment attraction policies, with heed paid to the automobile assembly and electronic industry projects ,prioritizing hi –tech and environmentally friendly projects, and boosting the construction of industrial cluster infrastructure in line with calling for investment resources.

Translated by Nguyen Thuy

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