Hai Duong industry promotion prioritizes capital mobilization

14:00 | 11/07/2021 Industry

(VEN) - In order to increase production and business efficiency, the industry promotion program of Hai Duong Province has been supporting rural industrial enterprises by prioritizing mobilization of capital and human resources, and providing consultation and information about new machinery and production equipment.

In 2020, Hai Duong Province’s Industry Promotion and Development Consultancy Center supported the Vu Cong Co., Ltd (Nam Trung Commune, Nam Sach District) in building a technical demonstration model of processing dried agricultural products for export. The model included a semi-automated production line at total investment of more than VND15 billion, with a capacity of 400 tonnes of finished products per year - much higher than the previous production method.

hai duong industry promotion prioritizes capital mobilization
An agricultural processing technical demonstration model at the Vu Cong Co., Ltd

According to a representative of the Vu Cong Co., Ltd, fresh agricultural products are classified, cleaned, disinfected with ozone and shredded before being put into the drying oven. The new advanced production line guarantees high quality, helping increase product value and market competitiveness.

According to 2014-2020 data from Hai Duong Province’s Department of Industry and Trade, the province implemented 85 industry promotion projects with total support funding of nearly VND18.03 billion, including five projects to support building technical demonstration models, 80 projects on application of advanced production machinery and equipment and six other projects to support businesses’ participation in fairs and exhibitions to promote consumption of rural industrial products.

The department said these projects helped beneficiaries develop production and expand markets. Provincial rural industrial enterprises need much support in terms of investment and application of advanced equipment in production. However, due to the limited state budget allocation, few large-scale projects have been implemented.

To overcome this limitation, Hai Duong industry promotion is focusing its attention in the 2021-2025 period on mobilizing and combining all possible capital sources to support the development of industrial production in general and rural industry in particular, mainly improving management capacity, technological innovation, product quality and competitiveness, and expanding markets.

To fulfill this target, Hai Duong Province’s Department of Industry and Trade has proposed that the province increase annual funding for local industry promotion. It also proposed that the Ministry of Industry and Trade increase the support funding level for each project to encourage investment of rural industrial establishments in production; and issue regulations on the formation of an industry promotion collaborators’ network at district and communal levels to gather information from industrial production facilities in order to improve their effectiveness and investment efficiency.

In the 2021-2025 period, Hai Duong Province will prioritize support for building technical demonstration models, transferring science and technology applications and developing typical rural industrial products.

Hai Linh