Bac Giang earmarks 3.5 billion VND to encourage industry development

Bac Giang earmarks 3.5 billion VND to encourage industry development, Illustrative image (Source: congnghieptieudung.vn)

Bac Giang – The northern province of Bac Giang will earmark 3.5 billion VND (149,250 USD) to activities to facilitate industrial development in the province. The funds have been approved by the provincial People’s Committee.

The funding will be used to cover technological transfer and the utilisation of cutting-edge machines and science-technology in agro-forestry product processing, food and beverage, support industries in service of garments-textiles, and mechanical and electronic production.

The province will focus on developing typical rural industrial products, improving the management capacity of businesses, raising their awareness of and capacity for clean industrial production, supporting rural industrial facilities in design and packaging, and stepping up the communications work.

This year, it will continue raising the quality and efficiency of industry promotion work with a focus on rural industries based on locally available materials.

The province has boosted the sectors in which it has potential like agro-forestry product processing, handicrafts and construction materials, and urged and supported organisations and inpiduals to participate in rural industrial production, with cleaner technologies.

To bring into full play such industry encouragement projects by 2025, Bac Giang will concentrate on some key sectors that have potential, competitive advantages and the capacity to join the global production network and value chain.

The locality will continue supporting garment-textile and leather sectors, with priorities given to high value-added steps, along with others that employ local labourers.

Priorities will also be given to industries that serve agriculture and rural areas, especially agro-forestry-fishery product processing, and more attention will be paid to both traditional and new craft villages, especially in areas where farming land are revoked or those are home to ethnic minority communities.

The industry encouragement work has significantly contributed to accelerate economic and labour restructuring in rural areas towards industrialisation and modernisation, creating jobs, increasing incomes, reducing poverty, raising cultural and social life in rural areas, and building new rural areas.

In 2022, the total funding for the work in Bac Giang amounted to 5.7 billion VND, with industry encouragement projects focusing on agricultural product preservation, agro-forestry product processing, and mechanical and electronic production.

Meanwhile, during the 2019 -2021 period, Bac Giang rolled out 78 projects and supported more than 100 rural industrial facilities to participate in exhibitions, among other activities.

Bac Giang is also building trademarks for local farm produce with an aim of reaching more markets, toward raising the value of agroforestry to produce export by an average of 8% a year to reach about 200 million USD by 2030, according to the provincial People’s Committee.

The province now has eight key agricultural products namely Thieu lychee, chicken, pork, citrus fruit, high-quality rice, vegetable, peanuts and fish, 14 typical products and 30 products of good potential. Among them, 40 products have had their trademarks protected. Some have earned geographical indication protection abroad like Luc Ngan lychee is protected in Japan, the Republic of Korea, Thailand, the US, Australia and Singapore, Chu and Ke dry rice noodle ares protected in Japan, the RoK, Thailand, and Yen The range chicken in Singapore, China and Laos.

Bac Giang also has 60 products with trademarks and 155 One Commune One Product products meeting three-star standards and above.

The provimce aims to speed up the implementation of public investment projects, especially large-scale and key projects in the second quarter of this year, according to the provincial People’s Committee.

In March, the province established a number of new industrial complexes with a total investment of more than 1.87 trillion VND (78.2 million USD), according to local authorities.

These new industrial facilities are expected to attract investment in a wide range of sectors, such as electronics, garments and textiles, farm produce processing, supporting industries, and manufacturing.

Under its master plan on improving investment efficiency by 2030, the province will allocate more than 10,000 hectares to industrial development.

Bac Giang welcomes two projects worth $700 million On the first days of 2023, the northern province of Bac Giang is welcoming two projects from Singapore and China with the total investment capital of $760 million.

Bac Giang province invests in developing transport infrastructure Besides State capital, the northern province of Bac Giang will attract non-State capital for investment in the field, particularly that from businesses to develop transport services infrastructure like inland waterway ports, bus stations, parking lots, and roadside rest stops.