Dong Thap raises reciprocal capital for industry promotion

10:00 | 13/10/2020 Industry

(VEN) - Dong Thap Province has been focusing its investment resources on development of key local products in order to develop the economy sustainably and effectively exploit its potential.

dong thap raises reciprocal capital for industry promotion
Industry promotion funding has helped many typical rural establishments boost their production and business

According to the Dong Thap Department of Industry and Trade, its industry promotion program has helped rural industrial establishments renovate machinery, equipment and upgrade technology. It has also contributed to economic restructuring towards the development of industrial and craft production in order to create jobs, increase incomes, improve competitiveness and develop sustainably, improve the efficiency of natural resource use, and reduce waste.

In the 2016-2020 period, Dong Thap organized 28 training courses to improve management and entrepreneurship capacity for 740 trainees who are managers of rural industrial establishments, and 11 training seminars with 935 participants. The Mekong Delta province also has supported five technical demonstration models, and the application of advanced machinery and equipment to production for 109 rural industrial establishments.

The total capital of Dong Thap industry promotion in the 2016-2020 period was VND126.8 billion, of which the national industry promotion budget provided more than VND5.3 billion, VND23.8 billion from the local industry promotion funding and more than VND2.6 billion from other local programs. Reciprocal capital of organizations and individuals participating in the implementation and enjoyment of the program amounted to VND95 billion.

Reciprocal business capital

According to Nguyen Van Na, Deputy Director of the Dong Thap Department of Industry and Trade, the program has attracted a large amount of reciprocal capital from enterprises and rural industrial establishments to invest in advanced machinery and equipment in production in order to create increasingly high-quality products and minimize environmental pollution.

To build on the results of the 2016-2020 period, the Dong Thap Industry Promotion Program will not only enhance support for organizations and individuals to develop industrial and craft production and improve competitiveness, but also contribute to speeding up economic growth, shift economic and labor structures in rural areas towards industrialization and modernization, create jobs, and increase incomes.

In addition, Dong Thap will focus on supporting the comprehensive development of the processing industry to meet the requirements of the Fourth Industrial Revolution, startups with new products, local key products, one commune one product (OCOP) products, and craft villages.

As of June 2020, the Dong Thap Industry Promotion Program had 75 participating establishments with 79 products certified for typical rural industrial products at the provincial level, 18 products certified for typical products at regional level and six products certified for typical products at national level.

Hoang Lan