Thanh Hoa Province:

Industry promotion helps local economy

06:00 | 19/12/2021 Industry

(VEN) - Industry promotion funding has helped many businesses and craft villages in Thanh Hoa Province improve production and trading efficiency, boosting the local economy. 

In recent years, Thanh Hoa Province’s industry and trade sector has implemented vocational training programs, helping enterprises procure modern production lines, develop production, improve product quality and create additional jobs.

In 2019, Thanh Hoa Province’s industry promotion program assisted the Truong Son Industrial Wood Joint Stock Company in the province’s Nhu Xuan District to build and operate a CARB P2 standard plywood production model at a cost of VND12.2 billion. The project brought in annual revenue of almost VND34 billion and has created stable jobs for 100 employees.

industry promotion helps local economy
Technical demonstration model of wood production for civil use and export at the Hai Oanh Forest Product Processing and Production Co., Ltd.

The Ministry of Industry and Trade approved a VND1.35 billion national industry promotion program for Thanh Hoa in 2021. The program provided financial assistance for four projects to help two forest product processing facilities, one fine art and handicraft production establishment, and one organic fertilizer producer procure and apply advanced machinery and equipment.

Meanwhile, the local industry promotion program funded eight projects at a total cost of VND1.472 billion, helping seven producers apply advanced machinery and equipment in the production of industrial and handicraft products, and one enterprise participate in an industrial and commercial goods fair in Hanoi.

According to authorities, industry promotion has greatly helped rural industrial development by increasing manufacturers’ productivity, improving product quality, saving raw materials and energy, minimizing environmental pollution, and creating new products. Some industry promotion beneficiaries exported products to the US, Malaysia, Thailand, Chinese Taipei and the Republic of Korea.

Industry promotion has helped reduce hunger and poverty, contributing to the province’s new rural area construction program.

In 2022, the provincial industry and trade sector will strive to fulfill its registered target with estimated industry promotion capital of VND5.427 billion, focusing on helping enterprises apply advanced machinery and participate in domestic fairs, and opening supply-demand connections.

Industry promotion capital has helped rural industrial establishments increase competitiveness, expand markets, promote rapid and sustainable growth, and improve production and trading efficiency.

Nguyen Hoang