In 2023, Tay Ninh province started its socio-economic development amid complicated global and domestic economic development, with opportunities and challenges coming together. With their efforts, local companies have gradually regained growth momentum, driven by positive industrial recovery.
Optimistic performance
Tay Ninh Department of Industry and Trade has closely followed directions of the provincial government and the Ministry of Industry and Trade, actively developed plans, advised the Provincial People's Committee, coordinated with provincial agencies and localities to carry out business support solutions to tackle difficulties against local enterprises. The department has thoroughly grasped actual situations, studied and forecast strategies and provided accurate and timely information for businesses to expand their operations, diversify markets, upgrade technologies and accelerate digital transformation. At the same time, it has further launched policies and resources to support local enterprises to enhance their competitiveness, actively integrate into the world, grasp and anticipate new business trends and new markets.
Mr. Le Anh Tuan, Director of the Tay Ninh Department of Industry and Trade, said: "The above solutions have created favorable conditions for local enterprises to revive their production and business activities. Many companies have overcome difficulties to have stable and effective business, especially in locally strong industries like textile and garment, agricultural processing (sugar and rice noodle), rubber, plastics, leather and footwear, and metal products.”
The Index of Industrial Production (IIP) grew 2.01% year on year in the first four months of 2023, bolstered by the processing and manufacturing sector (2.10%), and water supply, waste and wastewater management and treatment (4.97%). Some major industrial products expanded from a year earlier, led by sugar (31.12%), clinker Portland (24.72%), commercial electricity (2.50%), tap water (2. 71%).
Commercial and service activities continued to grow well. The trade and service network has been expanded, with a diversified supply of goods and services, to meet market needs. Total retail revenue of consumer goods and services was estimated at VND27,399.8 billion in the first four months of the year, up 10.70% year on year. Strong performers included household appliances, tools, and equipment (12.48%), cultural and educational products (12.7%), wood and building materials (12.8%) and passenger cars (24.13%).
Continued solutions to maintain growth momentum
Promoting its achievements, the industry and trade sector of Tay Ninh province will propose new key tasks and solutions like prioritizing the development of supporting industries, agricultural processing industry and solar power. Logistics services and the border economy will be further boosted.
In addition, it will increase the share of processing and manufacturing industries; prioritize the development of supporting industries and high-valued agricultural processing industry; improve the performance of existing industrial zones; quickly launch the third phase of Phuoc Dong Industrial Park to meet investors’ needs for project expansion; and issue the Industrial Zone Development Plan for the 2021-2030 period, with a vision to 2050 and the Industrial Cluster Development Project for the 2023-2030 period.
At the same time, it will give priority to large investment projects powered by advanced technologies and stable consumer markets; diversify FDI attraction, select reputable investors with advanced technologies that are capably interconnected with and transferred other ones to effectively tap local resources; develop priority criteria in selecting supporting industry development, with focus placed on weak stages of value chains or stages that determine the quality and value of the sector’s products.
In addition, the sector will continue to tap the potential of solar power together with synchronously developing grid infrastructure; supervise and urge construction of electricity infrastructure as planned; and ensure enough electricity for production and consumption.
| Strongly developing processing and manufacturing industries with smart and environmentally friendly technologies Currently, the province has six industrial zones in the Vietnamese Industrial Zone Planning, covering a total land area of 3,959ha. Five industrial parks are in operation, with a total land area of 3,385.19 ha. In recent years, with many solutions for a better business investment environment, Tay Ninh is among the biggest recipients of foreign investment inflows in the country. In the coming time, the province will continue to unlock all potential advantages, resources and human factors to speed up comprehensive and sustainable industrial development. In particular, industry and tourism services are the main driving forces for growth, coupled with new spatial development, making Tay Ninh one of the industrial development and tourism service centers of the region and the country. The province introduced the overall industrial development strategy in 2021-2030. Specifically, the province will focus on industrial restructuring, led by the processing and manufacturing industry driven by smart, environment-friendly, low-emission, energy-saving and land-saving technologies and labor. Priority will be given to refined agricultural processing, mechanical engineering, manufacturing, industrial equipment, electrical equipment, medical equipment, interior decoration and food. |
By Nguyen Bach, Vietnam Business Forum
Vietnamese
October 2024
Hanoi