Allocation of industry promotion funds lagging

07:00 | 25/08/2022 Industry

(VEN) - According to the Agency for Regional Industry and Trade (ARIT) under the Ministry of Industry and Trade, VND140 billion was earmarked for the 2022 national industry promotion program, but only VND29 billion or 20.7 percent of the funding has been allocated to localities.

In the first half of 2022, the Agency for Regional Industry and Trade sent four industry promotion inspection and supervision teams to northern, central and southern provinces and cities. It worked with Ninh Thuan, Thanh Hoa and Tay Ninh provinces to prepare for a regional-level industry promotion conference and outstanding rural industrial product exhibition of 2022. The ARIT also coordinated with the Vietnam Institute of Trade and Industry Studying (VITIS) to provide training for industry promotion officials from August 2022.

allocation of industry promotion funds lagging
Testing a dragon fruit washing machine as part of the national industry promotion program

The Industrial Development and Public Information Center 1 (IPC1), in charge of implementing national industry promotion projects in the northern part of the country, carried out surveys of rural industrial establishments and worked with relevant organizations to implement industry promotion projects in Nghe An, Thanh Hoa, Ninh Binh, Nam Dinh, Ha Nam, Phu Tho, Thai Nguyen, Tuyen Quang, and Yen Bai provinces. Due to tardy allocation of state capital for industry promotion, IPC1 has disbursed only VND1.4 billion for four projects, accounting for 5.74 percent of the total allocated funding.

The ARIT will continue to review and assess projects added to the list of 2022 national industry promotion projects while drafting and signing national industry promotion contracts and urging units to implement periodical reporting and testing, advance payment and finalization of national industry promotion contracts.

IPC1 will continue to implement industry promotion projects and conduct surveys in order to build a 2023 national industry promotion plan, and further implement scientific research and technology development for outstanding rural industrial product development.

The Agency for Regional Industry and Trade (ARIT) is working with organizations and localities to overcome newly emerging difficulties, and implement the national industry promotion program on time and efficiently.

Bui Viet