Key rural industries in Tra Vinh Province benefit from promotion fund

13:00 | 13/06/2020 Industry

(VEN)- Tra Vinh’s rural industry has changed markedly over the past six years due to significant improvement of production capacity and product quality facilitated by the province’s industry promotion program.

key rural industries in tra vinh province benefit from promotion fund
Handicrafts is one of the priority industries supported by industry promotion capital

Training and jobs

From 2014 to 2020, Tra Vinh’s Industry Promotion and Development Consultancy Center has implemented five national industry promotion projects supporting the application of advanced machinery and equipment in production and one project on advertising rural industrial products with total funding of VND1.86 billion.

With support from the local industry promotion fund, the center has organized, trained and improved skills for 1,470 workers of rural industrial establishments, with over 80 percent of the laborers being hired after vocational training. The center not only trained and improved management capacity for 883 students, many small-scale establishments have built their own business plans. The funding and projects target key industries in the southeastern coastal province such as food processing, garment and handicrafts.

According to the assessment of the Tra Vinh Department of Industry and Trade, focused on supporting, the provincial industry promotion in recent years has helped rural industrial business reduce production costs and improve product competitiveness. It has also enabled rural industrial facilities to train a skilled workforce and create quality products to meet rigorous consumer demands.

Increasing project attractiveness

However, the effects of Tra Vinh’s industry promotion are uneven. Specifically, the building of technical demonstration models and application of advanced machinery and equipment in production have been slow, directly affecting rural industrial production capacity. According to the provincial Department of Industry and Trade, the shortcomings stem from capital shortage and the reluctance of rural industrial facilities to renovate machinery and equipment, apply advanced technology to production as well as take the initiative in developing markets, especially export markets. In addition, the level of support from the industry promotion fund according to regulations is low, failing to meet the needs of rural industrial establishments.

In order to overcome the above problems, the department has allocated funding of nearly VND9.04 billion for the province’s industry promotion program for the 2021-2030 period in a bid to encourage Tra Vinh’s industry promotion to not only overcome difficulties of low support levels, but also increase project attractiveness. The department has also combined industry promotion with other sources of scientific non-business expenditure and other rural occupational development programs to raise funding for establishments and businesses.

Based on the results of regular surveys of the needs of production facilities and aid beneficiaries, the industry promotion team will update and remove obstacles to maximize project effectiveness and efficiency. Authorities hope the support will yield new production models, help enterprises find markets and using appropriate machinery and equipment will help the province’s rural industry establishments develop sustainably.

The total provincial industry promotion budget for the period of 2014-2020 was over VND8.76 billion. This capital source has been transformed into production capacity and consumption markets for rural industrial production establishments.

Hai Linh