Developing processing and manufacturing industries supporting the energy sector

From 2020 to present, Binh Thuan 's industry has had a fairly good growth rate with the industrial production value (at 2010 comparative prices) in 2022 reaching 39,189.7 billion VND, an increase of 15.33% compared to 2020. The average annual growth rate (GRDP) of the industry (2022 - 2023 period) is 7.29%...

Still not up to par with potential

Accordingly, the internal structure of the industrial sector has shifted in a positive direction, attracting many large-scale industrial investment projects, especially energy projects. Energy potential has been exploited and promoted well, the electricity production and distribution industry has grown strongly, belonging to the most effective industry group, contributing greatly to the provincial economy . This is also the sector that contributes mainly to the growth rate of added value of the industry, contributing to affirming that the industry continues to be the main driving force of the provincial economic growth. In addition, the processing and manufacturing industry of agricultural, forestry and fishery products of the province has developed quite well...

Titanium mining of Duc Canh Company at Thien Ai mine, Bac Binh. Photo: T.Khoa

However, the province's industrial sector is currently not developing synchronously and is not diversified, growth mainly relies on the energy industry; the processing and manufacturing industry and the mining industry are developing slowly, and the supporting industry for the energy industry has not developed yet. Most of the enterprises in the processing and manufacturing industry operating in the province are small and medium-sized, with outdated technology, not many new products, and their competitiveness still faces many difficulties in the domestic market and is limited by technical barriers in trade and export. The development of the agricultural, forestry, fishery and mining processing industry still has many limitations. Investment in infrastructure of industrial zones and clusters is still slow, not attracting investors with strong financial capacity to invest in infrastructure. Attracting secondary investment in industrial zones and clusters is still limited, most of the attracted projects are small-scale, the occupancy rate of industrial zones and clusters is not high...

Focus on attracting strategic investors

To resolve current obstacles to contribute to the development of industry, especially processing, manufacturing, and supporting industries for the province's energy sector to become more sustainable. First of all, it is necessary to develop industry, infrastructure of industrial parks, industrial clusters, power transmission works, wind power, solar power, and minerals associated with the province's socio-economic planning. Organize and implement policies well, attract investment, develop industry, create favorable conditions for investors to access finance, credit, land, etc. Innovate and improve the effectiveness of investment promotion activities, introduce and promote the province's potential, strengths, and investment incentive policies. Focus on attracting strategic investors with financial potential, modern technology, clean technology, environmentally friendly, using domestically produced raw materials, components, accessories, especially in the energy industry, processing, manufacturing, mechanics, electronics and supporting industries, to effectively exploit the potential advantages of the province. Maximize capital sources (ODA, national target programs, targeted support from the Central Government, etc.) to invest in supporting the development of the agricultural, forestry and fishery processing industry; commercial bank branches, credit institutions, etc. to meet the investment needs for the development of the agricultural, forestry and fishery processing industry in the area.

Promote investment attraction and call for breakthroughs in the development of agricultural, forestry and fishery processing industry associated with the province's advantageous products such as seafood, fish sauce, dragon fruit, rubber... with appropriate scale, modern technology, creating high added value. Implement well the management, exploitation and deep processing of titanium mineral sand associated with environmental protection. Closely coordinate with central ministries and branches to do well the investment promotion work, attract investors with capacity, experience, advanced technology, environmentally friendly to exploit and deep process titanium mineral sand. Consistently implement the policy of not granting licenses to use salt water and groundwater to separate titanium mineral sand.

In addition, focus on developing a number of industries: Supporting industries for the energy sector; production of raw materials and accessories for the textile, garment, leather and footwear industries; production of electrical equipment, electronic components; new materials, high-tech industries... to effectively implement the goal of sustainable development. Create conditions to support businesses to participate deeply in the value chain of production - processing and product consumption, improve the ability to supply raw materials for processing, ensure sufficient quantity and quality of processed and consumed products. Mobilize many resources to speed up the investment progress of construction of traffic works, projects, airports, seaports... Focus on monitoring, urging, supporting to remove difficulties to basically complete investment in infrastructure of industrial parks in the province. Continue to promote administrative procedure reform towards simplifying procedures, abolishing unnecessary steps and procedures. Improve the business investment environment, enhance provincial competitiveness, create favorable conditions for sustainable industrial development of the province...

Source: https://baobinhthuan.com.vn/phat-trien-cong-nghiep-che-bien-che-tao-phu-tro-cho-nganh-nang-luong-111758.html