Ninh Binh strives to reach industrial production growth target of 7.5% in 2024

Right on the first days of 2024, the Ninh Binh provincial People's Committee asked administrations at all levels and sectors to effectively implement the Government's Resolution No. 01/NQ-CP dated January 5, 2024 in an attempt to foster economic growth, remove difficulties for production and business, and enhance credit growth meeting the demand of production and business in combination with stabilising macro economy.

As a result, industrial production of local enterprises in the first quarter of 2024 recovered and recorded slight growth compared to the same period last year.

Notably, the province's industrial production value in March was estimated to hit 7.57 trillion VND, up 1.3%. In the first quarter, the province's industrial production value hit over 22.17 trillion VND (945 million USD), a year-on-year increase of 3.8%. 

Some key industrial products enjoyed high growth, such as garments up 11.6%; urea fertiliser up 2.3-fold; melted phosphate fertiliser up 59.8%; floating glass up 6.5%; steel up 18.9%; electronic components up 16.3% and camera lenses up 45.2%.

While some other key products saw declines such as camera modules down 12%; passenger cars down 26.4%; trucks down 39.2%; car seats down 22.6%; and car swipes down 9.6%, 

It is predicted that the global and domestic economies are still meeting numerous challenges in 2024, therefore Ninh Binh will continue to implement measures to remove difficulties and hindrances for production and business along with improving the local business climate and competitiveness.

The province set a target of achieving 113.06 trillion VND in industrial production value this year, up 8.7% compared to the figure in 2023.

In order to fulfill the target, the Department of Industry and Trade has advised the provincial People's Committee to issue a plan on developing hi-tech and friendly environmental industries based on the capacity of connecting domestic and foreign firms, and synchronizing industry, service and urban development.

Ninh Binh isalso stepping up investment promotion, focusing on key industries such as automobile production and assembly, electronics, supporting industry for automobile industry and agricultural product processing.

Besides, it has given priority to projects that use land effectively, save energy, and protect the environment.

In the coming time, Ninh Binh will focus on attracting processing and manufacturing projects that have large scale, apply hi-technologies, AI, green energy and supporting industries serving key industries of Ninh Binh.

The province will work harder to remove difficulties for projects on building infrastructure at industrial zones and clusters.

It will create a transparent and favourable investment climate for organisations and individuals investing in building infrastructure of industrial zones and clusters, and set up landlots for developing industry and small handicraft industry.

Translated by Nguyen Thuy