(HBO) – The prolonged COVID-19 pandemic has adversely affected all socio-economic aspects, including the industrial sector. However, thanks to directions issued by all-level Party committees and administrations, appropriate solutions proposed by relevant agencies to address difficulties and facilitate production and business and, especially, local enterprises’ determination and adaptability, the industrial sector of Hoa Binh has managed to record growth, serving as an important driving force for the province’s socio-economic development.
Starting
manufacturing in February 2020, the ANTONA joint Stock Company, based in Luong
Son Industrial Park, has provided jobs for 60 people with monthly per capita
income of over 5 million VND (220 USD).
Hoa Binh currently accommodates more than 350
industrial production projects, over 60 percent which have become operational.
The province has paid attention to attracting
projects to the high technology, manufacturing, support, and construction
material industries, while prioritising the ones that are environmentally
friendly and efficiently use local materials. It is pushing ahead with
industrial restructuring by promoting spearhead industries and the sectors it
has advantages for. Besides, authorities are also encouraging the sectors
directly producing export items so as to improve their added value.
Speeding up the restructuring of industries,
craft industries, and the rural economy, localities in Hoa Binh are strongly
switching to manufacturing the products that the province has strength in,
forming concentrated production zones, and bolstering the transfer of production,
preservation, and processing technology.
Thanks to appropriate orientations and timely
mechanisms and policies, local industrial production has sustained fair growth.
Some key industries and the sectors Hoa Binh has comparative advantages for
have maintained growth and posted a surge in production output.
On an annual basis, the industry - construction
value has risen by 7.33 percent on average. Meanwhile, the industrial
production value has grown by 13.52 percent and the industrial production index
10.5 percent. The industrial structure has recorded a positive shift as seen in
the processing industry holding a larger proportion and mineral mining
shrinking gradually.
The recent achievements in industrial
development have provided an important driving force for departments, agencies,
and localities in Hoa Binh to perform the task set up in the resolution of the
17th provincial Party Congress: developing the industrial sector into a true
economic impulse that grows fast, sustainably, and effectively, promotes other
economic sectors, helps realise social goals, and raises the percentage of
industry - construction in the local economy to 54 percent by 2025./.
Prime Minister Pham Minh Chinh attended a groundbreaking ceremony for an electronic printed circuit board (PCB) factory at Da River Left Bank Industrial Park in Hoa Binh province on April 13. The electronic PCB factory is invested by Japan's Meiko Group at a total cost of 200 million USD.
In the first quarter of 2024, the credit institutions in the province have actively deployed the legal documents of the State and the State Bank relating to currency, credit and interest rates. At the same time, they have promoted the capital mobilization, focusing on the solutions to expand the credit investment along with strengthening the credit quality management, lending to priority programs to promptly meet the capital needs for export - business and consumer demand during Tet in 2024.
Outside the key economic region of Hoa Binh, yet Lac Son district has utilised its potential and strengths regarding labour, land, and transportation connectivity to attract investment to the locality, contributing to promoting socio-economic development.
In a move to expedite the execution and disbursement of the 2024 capital plan for ODA projects, aiming for a disbursement rate of over 90% of the allocated funding, the Hoa Binh People's Committee issued Document No. 483/UBND-KTN on April 3, 2024, regarding such efforts.
Nguyen Van Thap from Kim Duc hamlet, Vinh Tien commune, Kim Boi district, has built the brand of Hoa Qua Son for local fruits. His efforts have brought about income for his family and generated job opportunities for locals, helping hundreds of households escape from poverty.
The Hoa Binh administration was entrusted by the Prime Minister with a budget of 3.43 trillion VND (142.91 million USD) for investment in 2024. The provincial People's Council approved nearly 3.76 trillion VND, which has been meticulously allocated to projects, achieving 100% of the assigned capital plan.
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