The northern province of Thai Binh has applied measures to boost the development of its industrial sector and support industry in particular, focusing on industries supporting garment and textile and mechanical engineering, as part of efforts to become a locality with strong industrial growth in 2025.
Last year, despite many difficulties from the COVID-19 pandemic, Thai Binh still enjoyed gross regional domestic product (GRDP) growth of 3.23 percent, a relatively good level compared to the country’s average.
The per capita income of Thai Binh reached about 2,100 USD per year in 2020.
Thai Binh also completed its targets in new-style rural area building three years prior to its plan, while 100 percent of its rural residents got access to clean water. Meanwhile, administrative reform in the province continues to be strengthened.
In the 2011-2020 period, garment and textile were among industries playing the core role in export activities of the province, creating many jobs and helping increase income for labourers, thus affirming its key position in the province’s socio-economic development strategy.
Businesses engaging in supporting industry for garment and textile and leather are mostly providing dyeing and fabric materials. Currently, Thai Binh has 41 firms oeparating in the supporting industry, 23 of which in textile dyeing and 18 others in fiber and yarns production. Major markets for textile and yarn products of local enterprises are European countries, Japan, the US, Taiwan (China) and China as well as the domestic market. This is one of the great advantages of the province in developing the supporting industry for textile and garment.
According to leaders of the provincial People’s Committee, over the years, the supporting industry for garment and textile has contributed to promoting the garment and textile industry’s growth, thus helping increasing the growth of export revenue of the province. Thai Binh currently has 234 garment and textile, footwear and leather businesses, including 44 in supporting industries (35 foreign-invested and 39 domestic firms).
The People’s Committee affirmed that along with garment and textile, mechanical manufacturing and pottery are also important industries of Thai Binh. Therefore, in its overall development strategy, the province will focus on boosting the growth of supporting industries for garment and textile, electronics, mechanical manufacturing and pottery , considering them as breakthrough sectors for the province’s industrial development in the next period.
In order to attract more investment to these industries, Thai Binh has designed a number of plans and solutions, concentrating on breakthrough measures such as promoting administrative reform to create a favourable environment for investment, developing human resources for supporting industries by expanding training activities to suit the labour demands of businesses, strengthening the use of information technology in training activities, and prioritizing traning programmes based on the needs of enterprises.
As part of efforts to create motivation for the overall growth of the industrial sector and supporting industries in particular, the province will continue to work to remove obstacles facing local firms in the process of attracting investment and expanding export markets.
Thai Binh will also assist a number of sectors such as garment and textile, electronics and mechanics to engage in the global supply chains. At the same time, the locality will also encourage technology modernisation to enhance the capacity of local firms in designing and promoting their trademarks.
In the first six months of this year, the industrial sector still enjoyed the highest growth with an estimated production value of 36.1 trillion VND (1.58 billion USD), up 10.8 percent year-on-year and equal to 45.3 percent of the yearly plan, in which the mining industry grew by 10.6 percent, and processing industry expanded by 11.4 percent. The number of newly-established enterprises and branches and representative offices rose by 14 percent over the same period last year with a total of more than 420 enterprises, branches and representative offices and a total registered capital of 3.8 trillion VND, up 13.8 percent year-on-year.
Source: Vietnam News Agency