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Prioritize investment attraction in supporting industries

Wednesday, 23/05/2018

In the past years, the provincial Party Committee, People's Council and People's Committee have promulgated mechanisms, policies and institutionalized policies to prioritize investment attraction, promote the development of supporting industry (SI), create increasing value for industrial production and create jobs for laborers.

JAHWA VINA Co., Ltd (Khai Quang IP) is a FDI enterprise manufacturing electronic components.

The economic integration has helped Vinh Phuc become one of the most attractive destinations for investment, the appearance of large investment projects from multinational corporations such as Samsung, Toyota, Honda ... helping Vinh Phuc to be involved in the global supply chain. Therefore, the development of supporting industry is one of the priority policies of Vinh Phuc to promote the development of the industry.

According to the statistics, in 2017, Vinh Phuc industry continued gaining strong breakthroughs; FDI enterprises in the industrial zone achieved over USD 3.5 billion, making an increase of 23% compared to 2016; export value reached over USD 2.6 billion, rising 29% compared to 2016; contributed over VND 2,000 billion to the State budget.

Particularly, the field of electric and electronic supporting industry reached over USD 2.3 billion, rising 40% compared to the same period; export value was over USD 2.1 billion, rising 36% compared to the same period; contributed over 500 billion to the State budget, rising 108% compared to the same period in 2016, attracted and created new jobs for more than 16.00 workers.

In the first two months of 2018, the industrial production index in the province increased over 14% compared to the same period, some industries continued having high growth rates, contributing to the growth of the industry as well as general growth of the provice. In which, electronic parts production increased 31%, textile and garment increased up 15%, motorcycle production up 11%, motor vehicle production up 6.4%.

Sharing with us, Ms. Le Thi Tam, Head of Industrial Management Division - Department of Industry and Trade said that, although the supporting industry achieved some good results in their process,

the supporting industry had many problems affecting the development process because of the out-of-dated technology and production capacity, low competitiveness, imported materials.

Determining the importance of developing the supporting industry, the provincial People's Committee issued Decision No. 36/2017/QD-UBND on the implementation of supporting infrastructure rents for secondary investors according to Resolution No 57/2016/NQ-HDND of the People's Council of on some specific measures to attract investment and support the development of enterprises in Vinh Phuc province.

The projects were supported in the field of automobiles, motorcycles, precision mechanics, electronics, telecommunications and supporting industry...

Having the view “always accompanying with, actively helping to remove difficulties for enterprises in the province, the provincial People's Committee continues to direct functional branches to implement many strong and decisive solutions to create a favorable environment for investing attractment and development of enterprises, focusing on promoting and attracting investment in supporting industrial projects ..

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