• An Giang
  • Binh Duong
  • Binh Phuoc
  • Binh Thuan
  • Binh Dinh
  • Bac Lieu
  • Bac Giang
  • Bac Kan
  • Bac Ninh
  • Ben Tre
  • Cao Bang
  • Ca Mau
  • Can Tho
  • Dien Bien
  • Da Nang
  • Da Lat
  • Dak Lak
  • Dak Nong
  • Dong Nai
  • Dong Thap
  • Gia Lai
  • Ha Noi
  • Ho Chi Minh
  • Ha Giang
  • Ha Nam
  • Ha Tinh
  • Hoa Binh
  • Hung Yen
  • Hai Duong
  • Hai Phong
  • Hau Giang
  • Khanh Hoa
  • Kien Giang
  • Kon Tum
  • Lai Chau
  • Long An
  • Lao Cai
  • Lam Dong
  • Lang Son
  • Nam Dinh
  • Nghe An
  • Ninh Binh
  • Ninh Thuan
  • Phu Tho
  • Phu Yen
  • Quang Binh
  • Quang Nam
  • Quang Ngai
  • Quang Ninh
  • Quang Tri
  • Soc Trang
  • Son La
  • Thanh Hoa
  • Thai Binh
  • Thai Nguyen
  • Thua Thien Hue
  • Tien Giang
  • Tra Vinh
  • Tuyen Quang
  • Tay Ninh
  • Vinh Long
  • Vinh Phuc
  • Vung Tau
  • Yen Bai

Quang Ngai targets 11% industrial production value growth

VGP – The central province of Quang Ngai will further develop its industrial sector in a bid to attract more investment in the coming period, stated a provincial official.

February 20, 2020 2:37 PM GMT+7

Quang Ngai targets 11% industrial production value growth

Located in the central key economic region, it is clearly shaping it as an industrial center of the central region and the whole country. 

Substantial renovations and improvements in the business environment have generated great efficiency in the province’s investment attraction over recent times with an array of large projects.

According to its 2020 plan , Quang Ngai will strive to achieve some main targets, such as an industrial production value of approximately VND140.38 trillion; in which, the value of industrial production without petrochemical products reaches VND61.12 trillion (US$2.63 billion), a year-on-year increase of 74.5%. 

The industry and construction sector is expected to account for a 54-55% proportion of the province’s gross regional domestic product (GRDP). 

Quang Ngai also aims for US$1 billion worth of industrial goods exports this year, up 28.2% compared to 2019, while its import revenue of industrial products is hoped to hit US$1.24 billion, up 44.2%.

In order to achieve the aforementioned targets, the provincial People’s Committee has promulgated a scheme on supporting and developing small and medium-sized enterprises, in addition to exerting continuous efforts to improve the investment and business climate, effectively implementing the “businessman coffee” model on a monthly basis, and holding dialogue with enterprises to promptly address their difficulties.

Seeking for new export markets

Besides, local businesses are looking for new export markets. Many products manufactured in Quang Ngai have been effectively exported to major markets throughout the world.

In 2020, a series of large projects are expected come into operation, opening up prospects for the province’s export growth. Quang Ngai enterprises have now been strengthening the promotion of their products to new markets. 

The volume of goods exported to the United States, Japan and the Republic of Korea has recorded a sharp increase, especially leather and footwear, apparel, electronics, induction coils and mechanical items.

The signing of the European Union-Viet Nam Free Trade Agreement (EVFTA) will contribute to boosting the EU’s trade and investment cooperation with Viet Nam as a whole, QuangNgai in particular, opening up new opportunities for goods export in 2020 and the following years.

According to Chairman of the Quang Ngai provincial People’s Committee Tran Ngoc Cang, in its plan set for 2020, the agency will continue to renovate and improve the efficiency of trade promotion, in addition to searching and expanding markets to boost exports.

“Quang Ngai always accompanies and supports businesses. In particular, the province will support enterprises and the people to grasp and make the most of the advantages from the new-generation free trade agreements, such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the EVFTA,” Cang affirmed.

Quang Ngai province will actively promote investment; strengthen solutions to support investors to implement the project; step by step forming and developing supporting industries, industrial development based on the development of science and technology, high quality human resources, proactive international economic integration; effectively exploit resources for investment and development; create a solid foundation for Quang Ngai to become a modern industrial province soon./.

By Vien Nhu