Ninh Binh develops support industries

These efforts have paid off with the industrial production value in the eleven months reaching 52.3 trillion VND, up 6.1 percent over the same period last year.

To date, the IZs have housed 112 valid investment projects with total registered capital of 60.82 trillion VND (2.62 billion USD), including 28 FDI projects worth 516.44 million USD (equivalent to approximately 10.93 trillion VND).

A number of big projects have put into operation, producing new products and contributing to the province's economic growth and budget collection. They include Thanh Cong Hyundai Motor's factory; Mcnex Vina Co. Ltd.'s modul camera and electronic component plant; CFG Ninh Binh floating glass plant; and Sejung JSC's automobile component plant.

In the past few years, Ninh Binh has paid attention to Programme of developing support industries. In 2016-2020 period, the province has defined automobile manufacturing and assembly as a key economic sectors, contributing to more industrial production value. Therefore, Ninh Binh province has issued numbers of policies, mechanisms to create favorable conditions for inverstors in terms of land hiring proceduces, constrtuction and administratives procedures… 

The Provincial Department of Industry and Trade proposed the province's People's Committee promulgate Resolution No. 07/NQ-BCSD dated February 13, 2017 on developing automobile manufacturing and assembly and electronic industries into spearhead economic sectors, contributing more to the province's budget collection.

The department of Industry and Trade also suggested implementing policies encouraging investment in support industry to reduce imports and increase the ratio of locally processed and assembled products.

It recommended building communication programmes to promote outstanding industrial products and create unique ones to call for investment, as well as encouraging firms to renovate and increase productivity.

The industry and trade sector has proactively put forth numerous practical measures to remove difficulties faced by enterprises such as continuing to implement programmes and plans on developing industry and small handicrafts; national industrial extension and supporting industry in 2020.

In addition, the Department of Industry and Trade suggested the provincial People's Committee take synchronous and consistent policies and solutions in building industrial zones and clusters to draw more investment. 

Translated by Nguyen Thuy