The province’s industrial production has quickly recovered and developed this year. The growth targets have exceeded all expectations. The total production value reaped over VND6,600 billion in 2010, a rise of 13.97 percent against the previous year.
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The An Nhon Garment JSC’s employees are at work. Photo N.T
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Overcoming difficulties
Although the world’s economy has showed signs of recovery, Binh Dinh’s enterprises still have to face many challenges, such as the shortage of raw material, power, and labor forces.
The provincial relevant bodies cooperated with the enterprises to help them resolve difficulties, boosting their business activities.
The Department of Industry and Trade and other bodies implemented some key measures to promote the industrial production and trade promotion, and expand new markets.
The businesses have also made every effort to overcome difficulties and further their operation. They applied advanced technologies and new equipments to improve the production and management capacity, aiming to enhance the competitiveness and reduce the cost.
Also, many companies have cooperated with each other to develop. They built their own brand names, leaving consumers with good impression. The Binh Dinh Printing one-member Co., Ltd, Bidiphar, PISICO, and some wood processing companies are typical examples.
Thanks to such practical measures, the industrial production has quickly recovered and grown since early this year. The total production value was estimated to reach over VND6,600 billion, an increase of 13.97 percent compared to last year, of which State-owned enterprises got a rise of 16.7 percent, non-State owned ones gained an increase of 14 percent, and private sector surged by 13 percent.
Continuing to make a breakthrough
2010 is the last year of the five-year plan (2006-2010). Another five-year plan (2011-2015) was also built.
Binh Dinh set the target for the 2011-2015 period. Accordingly, the industry sector is the key motive for the local economic structure transfer towards industrialization and modernization. The 2011-2015 period’s industrial production value is set to reach an average growth of 20.7 percent per annum. Binh Dinh strives to become an industrial province by 2020.
However, experts forecasted that many difficulties are still ahead despite signs of recovery and development as the positive signs are mainly showed in form of quantity and the competitiveness as well as the effectiveness is still poor.
In addition, many businesses are still facing the shortage of capital for new technology application while banking interest rates are higher than their profit, let alone other disadvantages, such as weather, diseases, and the shortage of manpower.
The province’s industry and trade sector will focus on speeding up the industrial structure transfer in the 2011-2015 period by calling on economic groups to invest in Binh Dinh, encouraging hi-tech projects, and developing craft villages.
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