Binh Dinh’s five-year industry promotion leap

10:39 | 28/03/2017 Local Industry

(VEN) - Five years after beginning to implement a government decree on industry promotion, Binh Dinh Province has accomplished dozens of related programs and projects, contributing significantly to the industrial growth in the rural province on the south-central coast of Vietnam.  

binh dinhs five year industry promotion leap

Furniture and fish powder

From 2012-2016, Binh Dinh implemented 86 projects and programs enjoying assistance worth more than VND11.44 billion from national and local industry promotion programs. The assistance included VND5.682 billion of national industry promotion capital for 18 projects, and VND5.76 billion of local industry promotion capital for 68 projects.

Industry promotion programs provided training for local workers and assistance for restoring traditional crafts. They also helped provincial businesses improve management capacity, develop notable rural industrial products, build technical demonstration models, implement technology transfer, and apply advanced machinery to production.

With the local industry promotion program’s capital, the provincial Industry Promotion Center assisted the An Duc private enterprise in An Lao Town of An Lao District to apply machinery to wooden furniture production. The program financed VND200 million of the project’s VND514 million cost. The enterprise assessed that the machinery application has helped improve productivity and product quality, as well as lower production material consumption and the number of substandard products.

The center is also assisting the Minh Tuan Agricultural and Forest Product Co. Ltd to build a model to produce fish powder using local materials for supply to feed factories. The project is under trial operation. It is expected to yield revenues of VND26 billion per year and provide 20 jobs with a per capita income of VND4 million per month.

According to the provincial Department of Industry and Trade, industry promotion programs and projects contributed to increasing the number of production establishments, craft villages and jobs in the province.

Project diversification

Although industry promotion funding that Binh Dinh accessed is larger than that for other provinces in the central region (including the Central Highlands), the industry promotion assistance for each project is lower than the project’s investment demand and is thus unattractive to businesses. In a number of enterprises, the new machinery was not fully utilized. It still took businesses a long time to apply for the national industry promotion program’s assistance.

Binh Dinh has found many specific solutions to ease the problems. The provincial Industry Promotion Center will continue to implement projects and programs approved annually, diversify projects enjoying assistance, and develop branding for rural industrial products. Implementation of these solutions will be prioritized in localities with a low socioeconomic ranking, localities with new rural area construction projects, and mountainous areas, among others.

The center will also work with relevant authorities to survey and find markets for products of rural industrial production establishments.

Immediately after four national industry promotion projects totaling VND 1.1 billion were approved for Binh Dinh for 2017, the provincial Industry Promotion Center began the necessary activities to get the projects accomplished in time and in accordance with plans.

Hai Linh