Hai Duong Province prioritizes supporting industry development
Hai Duong Province prioritizes supporting industry development
Located in the Northern Key Economic Region, Hai Duong Province which has a dynamic economy has identified industrial development as the main direction for dynamic socio-economic development, especially the development of support industries.
Location advantages
Hai Duong Province has many advantages in attracting investment in support industries thanks to its favorable location in the middle of the Hanoi-Hai Phong and Hanoi-Quang Ninh economic corridors. It also combines with Hai Phong and Quang Ninh to form an important economic triangle in the east of the Northern Key Economic Region. Many large global corporations such as Samsung and Microsoft have established operations in neighboring provinces.
Hai Duong strives to develop modern support industries |
So far, 14 industrial parks have been established in the province on a total area of nearly 3,000 hectares, with nearly 500 foreign investment projects and total investment capital of US$9.1 billion from 26 countries The parks are focusing on manufacturing high-tech products, electrical products and electronic components, automobiles, cement, iron and steel production, textile production, and precision mechanical equipment. This, in turn, will be a huge and diverse downstream market for supporting industry products.
According to the Hai Duong Department of Industry and Trade, the province's supporting industry has made some progress in both quality and quantity, especially in mechanical engineering, electricity-electronics, and textile-leather shoes. These three industries have an annual production growth rate of over 15.4 percent, accounting for nearly 60 percent of the province’s industrial production value. They manufacture not only for domestic enterprises, but have also taken initial steps to become a link in the production chains of multinational corporations.
Modern development
In the 2021-2030 period, Hai Duong has set a goal of an average 12.9 percent growth rate of supporting industry production value per year to reach VND132.3 trillion by 2030.
To do this, Hai Duong is planning to build transport and IP infrastructure, improve the investment environment, and gradually attract investment in the supporting industry.
The provincial People's Committee issued a supporting industry development plan to 2020, with vision until 2030, which includes a system of local enterprises capable of supplying products to assembly enterprises, especially FDI enterprises, and large enterprises in the Northern Key Economic Region and encourages the transfer of electrical and electronic component production from FDI enterprises to domestic ones. One of the program’s major initiatives was a consultation program for supporting industry enterprises in coordination with the Ministry of Industry and Trade and Samsung Group.
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Hai Duong currently has over 130 large projects manufacturing supporting industry products, with electronics projects accounting for more than 30 percent. The number of enterprises operating in support industries accounts for nearly 4.5 percent of total enterprises in the processing and manufacturing industry. |
