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Granite processing for export. Photo N.T |
The province’s industrial production value saw the lowest ever growth rate in the first nine months with over VND4,058 trillion, a year-on-year surge of 5 percent.
Fall of key sector
The report released by Binh Dinh Department of Industry and Trade said the province’s production value has faced many difficulties in the past nine months owing to consequences of the 2008’s inflation and the economic recession this year.
The timber export sector is the key one, accounting for one-third of the province’s total industrial production value and 60 percent of export turnover. However, it has fallen down due to the global economic recession affecting its main markets in the US and European countries
Also, the shortage of highly qualified workers was another reason causing difficulties for woodwork industry.
The aquaculture sector also shared the same plight. Aquaculture companies have almost been unprofitable since early this year because the output has narrowed and the price of raw material has increased.
Alongside these, the province’s other advantages were severely affected, such as titanium processing industry, agricultural products, and brewery sector.
Despite many difficulties, the province’s industry sector has still showed signs of recovery thanks to all-out efforts from businesses and support of the Government.
Statistics showed that the industrial production value in 9 months increased by 5 percent compared with the same period last year, accounting for 60 percent of yearly target.
Race against time
In 2009, the province’s industry and trade sector aimed to gain the growth rate of 21 percent, a 2.9 percent increase over last year.
The nine-month industrial production value has recovered, but it saw the lowest ever growth rate in the past 20 years.
To boost the industrial production in the fourth quarter, a meeting was held to review the industrial production and commercial activities in 9 months and implement key tasks in the fourth quarter.
At the meeting, participants talked about measures to strengthen the recovery and growth of the industry sector in the coming time.
Businesses in fields of timber, aquaculture, construction material, and minerals exploitation addressed difficulties that need resolving and asked the Government to continue to implement stimulus packages.
They also demanded functional bodies need to carry out measures to deal with the shortage of raw material, manpower, and electricity for production.
Representatives of local authorities promised to make all-out efforts to assist businesses in boosting the industrial production. The representative of Department of Industry and Trade said they would closely coordinate with relevant bodies to resolve difficulties in raw material, workforce, capital, and output.
Speaking at the meeting, Vice Chairman of Binh Dinh People’s Committee Le Huu Loc steered provincial bodies and businesses to immediately overcome the storm aftermath, focusing on production.
He said timber businesses would be given priority, but they must make every effort to well operate, aiming to save the expenditure and lower the price for competitiveness.
The provincial People’s Committee aims at boosting industrial production and goods export in the fourth quarter to ensure the highest industrial growth rate this year, Loc added.
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