Vietnam trade fair - Hanoi plan to develop key industries

The Prime Minister recently ratified a plan to develop Hanoi's industrial sector over the next four years, including development of key industrial products.

Hanoi will focus on developing five key industrial sectors.

Development of the city's industrial sector will be based on further attraction of foreign and private investment and co-operating with multinational groups to join international production and distribution networks, according to the plan.

The plan aims to boost industrial export value to account for 80% of the capital's total export revalue by 2010 and to achieve a growth rate of 15-16% per year. A growth rate in industrial production value of between 15-16% a year is also targeted.

Hanoi will focus on developing five key industrial sectors, including electronics and information technology, engineering, food and beverage processing, textiles and garments, and construction and interior decor materials.

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The Hanoi People's Committee will also give preferential treatment to all enterprises in the capital that voluntarily join the key industrial products development programme.

Under the preferential policies, enterprises making key products would receive priority for land in industrial zones or complexes and would join the city's yearly programme on trademark building and development.

They would also receive financial support from the city when applying for international quality standards certification and conducting training courses, receive free promotion of their products on the web site of Hanoi's Department of Industry, and be able to market their products free-of-charge at the city's trade promotion centre.

The Ministry of Industry estimated that Hanoi would need a total capital of VND40tril (US$2.5bil) to implement its plan for developing the capital city's industry.

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The Prime Minister also urged Hanoi to join hands with neighbouring Hai Phong and the provinces of Quang Ninh, Ha Tay, Hung Yen, Hai Duong, Vinh Phuc and Ha Nam, to foster an intra-regional development co-operation plan.

(Source: Viet Nam News)