Lao Cai’s huge funding for industry promotion

17:09 | 09/01/2016 Industry

(VEN) - The Lao Cai Province People’s Committee has approved a VND30 billion industry promotion program for the 2016-2020 period in an effort to strengthen provincial industry promotion activities in the future.

Lao Cai’s huge funding for industry promotion

Many rural industrial facilities have been supported in applying new production technologies and equipment

According to the Lao Cai Department of Industry and Trade, deployed industrial promotion programs have rapidly boosted local rural industrial development, with many rural industrial facilities thriving on the production and sales of a variety of industrial products and beginning with their product branding.
Industrial facilities employ local workers including those from ethnic groups, pay employees higher wages, and make a major contribution to the province’s poverty alleviation and hunger elimination targets.

During the 2011-2015 period, the Lao Cai Industry Promotion Center has spent VND10.62 billion on provincial industry promotion projects, including VND1.36 billion on vocational training for rural workers, VND1.05 billion on the development of outstanding rural industrial products, VND171.9 million on business start-up training and market research activities, VND5.4 billion on 75 technical demonstration models and new production technology and equipment projects.

However, the center has encountered difficulties in industry promotion implementation. For example, the center-prepared vocational training overlapped the Ministry of Labor, Invalids and Social Affairs-offered; rural industrial bases failed to boost production and sales despite the large investment; and low industry promotion funding levels failed to attract rural industrial bases.

Recognizing these shortcomings, the Lao Cai Province People’s Committee decided to spend VND30 billion in industry promotion funding for the 2016-2020 period, doubling the spending for the previous period. In addition, it will also call for more investment from other sources.

In the coming time, the center will organize vocational training and create jobs for 630 rural workers and support seven technical demonstration models, 26 rural industrial facilities to apply new technologies and nine rural industrial business starters-up.

To further promote the efficiency of the program and achieve these objectives, the center will improve its industrial promotion implementation and management capacity and focus on vocational training priorities for the traditional industries and local key product development, especially in terms of production technology and product branding. In addition, the center will strengthen the inspection and supervision of provincial industry promotion projects and solve related arising problems, ensuring that the projects are implemented as scheduled. 


Hai Linh