14:16 | 05/05/2019 Industry
(VEN) - The People’s Committee of Thua Thien Hue Province has approved a project for rural industrial development to 2025 with total capital of almost VND1.9 trillion, 85 percent of which is to come from private sources.
Thua Thien Hue will focus on developing farm produce, forest products, seafood and beverage processing, fine art and handicraft, mechanical equipment, machinery and parts, and building material industries.
The central coastal province prioritizes the application of advanced machinery and equipment to production to help enterprises improve labor productivity and product quality and protect the environment. The project will help rural industrial producers participate in trade fairs and exhibitions, trade promotion and partner searches.
Thua Thien Hue will prioritize diversification of fine art and handicraft articles for tourists, focusing on furniture, lacquer, bamboo and rattan wares, textile, garment, embroidery and special farm produce, forest products and seafood.
The project is expected to help the province reach a rural industrial production value of VND13.5-15 trillion with annual growth of 17-17.5 percent from now to 2025, and increase the proportion of rural industry’s contribution to the provincial industrial sector to 20-25 percent.
To diversify capital sources for the project, apart from using state capital, the province will facilitate capital contribution through business and cooperative establishments, and loans from credit institutions. Capital from national target programs for new rural area development, one commune-one product programs, and industry and trade promotion programs could also be mobilized for rural industrial development. The province will mobilize capital from non-governmental and foreign organizations to assist enterprises in vocational and startup training, market research, and environmental pollution treatment.
The provincial Department of Industry and Trade, in coordination with relevant agencies, sectors and localities, will assist the provincial people’s committee in issuing and realizing a project implementation plan and policies on industrial zone development, and develop and implement a program to facilitate industrial infrastructure investment from now to 2025.