Province supports industrial ambitions

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Báo Đầu Tư English - 31 month(s) ago 6 readings

Province supports industrial ambitions

Southern Ba Ria-Vung Tau province aims to become Vietnam’s chief supporting industry centre.

This according to a supporting industries development policy which was green-lighted by the government in early 2011.

In early 2012, Ba Ria-Vung Tau province gave the nod to the supporting industries development planning scheme to 2020 with a vision towards 2025.

Under which, supporting industries will become a foundation for industrial growth and a chain in the production network of trans-national groups (TNGs).

The provincial authorities are committed to propelling supporting industries growth through making the most of support and potential from assorted economic sectors, TNGs and enterprises.

The scheme will focus on mechanical manufacturing, electrical and electronic and chemical industries.

In respect to mechanical manufacturing, the province set to lure investment into areas it has comparative advantages including household appliance, auto-motorbike manufacturing, household electronics and then take advantage of local seaports to promote exports.

Priority shall also be given to petroleum extraction and processing, and shipbuilding industry supporting industries development.

By 2015, mechanical manufacturing supporting industry should represent 70 per cent of supporting industries’ total industrial production value in the province. This proportion will slightly go down to 60 per cent in 2020 and 50 per cent in 2025.

The electrical-electronic supporting industry is designed to not only service electrical and electronic sectors but also supplies components for other industries.

Accordingly, by 2015, electrical and electronic supporting industry should contribute around 12 per cent of supporting industries’ total industrial production value in the province, rising to 24 per cent in 2020 and 34 per cent in 2025.

The chemical sector supporting industry development should match the provincial industrial development planning, the country’s overall development strategy and that of the southern key economic zone.

Priority will be given to stimulating hi-tech petrochemical industry growth to create competitive products and reduce imports, meeting ever-growing demands for chemical, plastic and synthetic rubber products.

By 2015, chemical sector supporting industry should make up around 20 per cent of supporting industries’ total industrial production value in the province which will be slightly decreased in the following years to around 15 per cent.

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