Hai Phong Province: Practical support for rural industry

The funding provided for Hai Phong industry promotion projects, while limited in scope, has motivated rural industrial enterprises to invest in innovation to improve the quality of their products.

Hai Phong Province: Practical support for rural industry

In 2019, the Thanh Phuong Casting Mechanical Company Limited (in My Dong Commune, Thuy Nguyen District) started expanding its factory to provide more products for the domestic market and export. With investment of more than VND12 billion, the project focused on two major products: washing machines exported to the US with a capacity of 1,400 tonnes/year and elevator pulleys exported to Spain.

In 2020, the Hai Phong Industry Promotion and Development Consultancy Center used national industry promotion funding to support the building of a technical demonstration model for new metal casting products, specifically in sand processing system and an automatic mold production line.

The project has gone into operation and is helping enterprises improve production capacity and significantly increase economic efficiency. The project has also created jobs for 36 local technical workers with an average monthly income of VND8 million.

Thanh Phuong Casting Mechanical Co., Ltd was one of two rural industrial establishments in Hai Phong City that received national industry promotion funding in 2020 for investment, technology transfer and applications in production. While the funding was only VND1.8 billion, it attracted over VND13.9 billion of reciprocal capital from beneficiaries. The completed projects have helped improve production capacity, product quality, and increase market competitiveness.

However, according to a representative of the center, the budget allocated for the implementation of industrial promotion is still limited. In addition, the complicated developments of the Covid-19 pandemic over a long period have greatly affected investment progress, production and business plans of rural industrial establishments, as well as the quality of coordination and effectiveness of the project.

Despite the difficulties, the center has continued to support rural industrial establishments, evaluating and submitting many projects to the provincial People's Committee for approval. These include application of advanced machinery and equipment in ceramic production and exhibition of typical rural industrial products of Hai Phong city. In addition, the center continues to strengthen professional training, improve the capacity and operations of industry promotion staff, establish industry promotion systems at grassroots level; and coordinate with related organizations and individuals to mobilize additional capital for industry promotion activities.

In 2020, Hai Phong completed seven industry promotion projects with total support funding of VND2.24 billion, including five local and two national industry promotion projects.

VietNam Economic News

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