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“The surge is largely attributed to the province’s fast economic recovery. With the above figure, Bac Ninh’s nine-month industrial production value surpassed the whole year’s target by 0.1 per cent,” said the province’s Department of Industry and Trade deputy director Hoang Huy Tap.
According to the department’s report, the state-owned economic sector in Bac Ninh witnessed stable production, generated an industrial production value of VND216.1 billion ($11.37 million) in September, up 43.4 per cent on-year, raising the total figure to VND1.66 trillion ($87.6 million) during the first nine months, up 43.7 per cent on-year.
Meanwhile, private enterprises in the province acquired an industrial production value of VND1.04 trillion ($54.94 million) last month, an on-year rise of 19.5 per cent, sending the total value to more than VND8.25 trillion ($434.28 million) in the three quarters, an on-year rise of 17.4 per cent against the corresponding period last year. During the period, this sector received state support such as preferential credit and tax delays, the report said.
Between January and October, the foreign-invested sector gained the highest growth rate in industrial production value, at 138.9 per cent to hit VND13.1 trillion ($689.78 million), of which, September alone made up VND1.76 trillion ($93.14 million), an increase of 63 per cent on-year.
Tap said that foreign-invested businesses played a decisive role in terms of industrial production growth in Bac Ninh province.
Thanks to the surge in domestic sales and exports, the output of many key industries in Bac Ninh in the first nine months jumped compared to the same period last year, such as fresh milk and yoghurt up 132 per cent, paper 21.9 per cent, tyres 38.9 per cent, plastic pipes 33.6 per cent, floor tiles 22.4 per cent and glass 27.9 per cent. Meanwhile, other products saw an on-year output reductions, for example, beer, tobacco, bricks and welding sticks.
Bac Ninh, 30 kilometres northeast of Hanoi, is targeting to become an industrialised province by 2015, creating a premise to be one of leading provinces in the northern key economic zone by 2020. The report said in the beginning of this year, the province aimed to fetch total industrial production value of VND23 trillion ($1.2 billion) in 2010, an increase of 21.05 per cent against 2009. Between 2011 and 2015, Bac Ninh targets an annual industrial growth rate of 20.48 per cent on average to reach aggregate production value of VND58.38 trillion ($3.07 billion) by 2015.
At present, Bac Ninh is calling for clean industrial projects in the fields of electricity, electronics, telecommunications, engineering, supporting industry, consumer-goods making and assembling, food processing, high-grade building materials, and prioritising hi-tech projects. With a view to becoming an industrialised province by 2015, the local authorities also focus on developing non-agricultural industries in rural areas, comprising of agriculture-forestry processing, making products from metal, paper-making, fine arts woodwork, civil carpentry, ceramics, weaving, civil construction, building materials production and trading.
Over the years, the non-agricultural industries have contributed to the provincial economic growth, accelerating the shift of rural economic structure towards gradually increasing the industrial and service ratios in the the rural areas’ economy, creating a large number of jobs for local residents and improving the living standards of the rural areas.