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Can Tho: Industry Grew 9.1 Percent

Despite bad implications of the global economic recession, Can Tho was one of several locations that could maintain a growth in industrial production which was even higher than the industrial sector’s average level.

The report about 2009 industrial production by the Department for Industrial Economy (Ministry of Industry and Trade) showed that the country’s total industrial production value was an estimated VND696.577 billion in 2009, 7.6 percent more than in 2008. Can Tho was one of several locations with a higher growth in the total industrial production value than the sector’s average level. Particularly, the city earned more than VND16.600 trillion in the production value, 9.1 percent on 2008. Of this, nearly VND1.690 trillion came from state-owned businesses, over VND1.340 trillion from foreign invested units, and as much as VND13.600 trillion from non-state companies.
Goods circulation in the market was relatively stable and a sharp rise was posted in people’s purchasing power compared to in 2008. Particularly, total sales was an estimated VND54.144 trillion in 2009, 44.8 percent more than in 2008, of which retail sales was about VND25.000 trillion, 21.8 percent more than in 2008. The growth was resulted from the great efforts by companies and supermarkets to launch a number of promotion programs and bring the products to rural and remote areas. The goods were quite diverse in type, meeting people’s production and living requirements.
Thus far, the city has attracted 187 investment projects with a total registered capital of US$1.6 billion. Of them, 138 projects have been active with a total realized capital of US$540.6 million. In 2009, Can Tho attracted 21 investment projects and its nine existing projects sought additional capital for production expansion of a total US$268.7 million.
As for import-export, total export value was an estimated US$843.7 million, nearly 91 percent of the projection and 8.1 percent lower than in 2008; total import value was nearly 62 percent of the projection, 24.4 percent lower than in 2008.
Can Tho Department of Industry and Trade said that despite facing a lot of difficulties the city’s industry kept growing with a higher growth level in later months of 2009. The government’s interest-subsidy policy which was part of the economic stimulus package helped businesses stabilize production and further grow.
In 2010, the city’s industry and trade sector will continue improving local investment and business environment, raise agricultural production efficiency, and support individuals and businesses in producing standard industrial items to replace imports. Efforts will be made to accelerate administrative reforms to establish a one stop shop mechanism to facilitate investors’ business. More loans will be given to businesses, particularly those of small and medium size, export businesses, and those operating in occupational villages, in rural areas and those producing essential consumer goods. Also important are increasing human resource training, raising technology capacity, enlarging output market, providing more space for production, consultation and information services etc./.

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Posted by VBN on Jan 23 2010. Filed under Economy News. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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