Ninh Binh's industrial output surges 24.46% in 2019

The province's index of industrial production (IIP) saw a year-on-year increase of 24.46 percent in 2019, proving its policy of developing the industrial sector as a key driver of the economic growth.

Ninh Binh's industrial output surges 24.46% in 2019

Production line in Lam Giang company

The growth was the highest recorded in the 2015 - 2019 period.

According to Mr Hoang Trung Kien, Director of the provincial Department of Industry and Trade, in 2019, the industrial production continued its sound performance, recording a total value of around 71.38 trillion VND (3.08 million USD), up 24.46 percent against 2018, representing 25.85 percent higher than the yearly target.

The figure was mainly driven by automobile assembly and manufacturing enterprises, prominently Huyndai Thanh Cong automobile maker and floating glass company CFG Ha Long. Hyundai Thanh Cong automobile assembly company has manufactured up to 40.000 units per year; while CFG Ha Long has reached its maximum capacity of producing up to 600 tons per day.

Businesses specialized in manufacturing electronic components, and support industry also made sizeable contributions to the industrial production value. In addition to that, the garment and textile, cement, and fertilisers sectors continued keeping their growth.

In recent years, Ninh Binh has issued number of policies to develop the car assembly and manufacturing and electronics industries as its key economic sectors, along with a program on developing the support industry to 2025; a plan on developing industrial zones. These policies have helped to bring about the good industrial production index.

To turn industrial production into a spearheaded economic sector in a sustainable and stable manner in the coming time, the province has adopted an arrays of measures and tasks.

They include continuing implementing the project on developing industry, small and handicraft industry, boosting investment attraction as well as the effectiveness of projects inside industrial zones.

The locality will encourage the development of high and environmentally-friendly technology and support industry projects, effectively implement the project on assisting the support industry in service of the automobile, electronics, textile and footwear industries.

It has set to boost infrastructure construction; promptly implement investment attraction policies, streamline administrative procedures; provide favorable conditions for investors in a bid to create a fair business climate, thus speeding up industry sector growth.

Translated by Nguyen Thuy