Hue invest $2.26m in auxiliary industry

June 10, 2017 | 10:57

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The central province of Thua Thien-Hue has decided to set aside nearly VND52 billion (US$2.26 million) into auxiliary industries between now and 2025.

The central province of Thua Thien-Hue has decided to set aside nearly VND52 billion (US$2.26 million) into auxiliary industries between now and 2025.- Photo itradetthue.gov.vn

The investment aims to meet nearly 35 per cent of local demand for industrial manufacturing by 2020 and 55 per cent by 2025, respectively.

Specifically, VND24.65 billion ($1.07 million) will be earmarked for the 2017-20 period and the remaining for 2021-25 period.

Priority fields will include auxiliary industries for garments, leathers and footwear; metallics, plastics and rubber; electricity and electronics; as well as hi-tech industries.

The province is calling for building a high-quality factory to churn out shoe parts such as soles and toes for the footwear industry, with target of meeting 65 per cent of the sector’s demand by 2020 and 75 per cent by 2025.

Thua Thien-Hue will continue developing projects to provide materials for all production stages of the textile and garment sector, so as to form a complete production chain.

In the near future, the province will build an industrial centre supporting garment sector in the Phong Dien Industrial Park to serve the whole central region and the country.

The province plans to produce more than 100,000 tonnes of fiber and 20 million metres of fabric per year by 2020. The figures by 2025 will be 150,000 tonnes and over 45 million metres, respectively.

Production of other materials supporting the garment sector is expected to meet more than 70 per cent and 80 per cent of local demand by 2020 and 2025, respectively.

The respective figure for medical equipment and electricity-electronics parts supply will be over 35 per cent and 55 per cent.

The province will also give priority to support high-tech industries, including software, machinery maintenance and repair services meeting international standards.

VNS

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