Dong Nai drives towards dynamic industry

 Focusing on green industry

As Dong Nai Province shifts to prioritizing green production for the 2011-2020 period, the authorities have become increasingly selective in granting investment licenses.

In addition to projects serving the development of key industries such as engineering and electronics, the province has given a priority to high-tech, clean food processing, machinery and equipment upgrading and environmentally-friendly projects. Support industry projects in order to increase the localization rate for made-in-Vietnam products have also engaged the interest of the local government. In addition, Dong Nai Province has made a major change towards green and closed polluting industrial zones and clusters.

Although the criteria for industrial development planning have been completed, growth has not yet met the set targets. According to Dong Nai Province’s industrial development planning by 2020, with a vision to 2025 approved by Dong Nai Provincial People’s Committee, the province is striving to achieve average GDP growth by industry of 13-14 percent per year in the 2011-2015 period. However, during the 2011-2013 period, this figure just reached 11.55 percent per year.

Dong Nai Provincial People’s Committee Deputy Chairman Tran Minh Phuc said that the province’s goals are to promote its potential and advantages, maintain the pace of growth and achieve sustainable development. In addition, economic growth must be accompanied by environmental protection and social security, contributing to ensuring better living conditions for local people.

To attract more investment capital in the support industries, the province is proposing to the government to adopt preferential policies for industrial production, contributing to improving the localization rate, reducing the trade deficit and stabilizing domestic production.

Right direction

Dong Nai Province’s economic growth has remained good in recent years. The economic structure has continued to shift towards an increase in the proportion of industry, construction and services and a decline in the proportion of agriculture, forestry and fisheries. Industry, service and agriculture are expected to account for 56-57, 38-39 and 5-6 percent of local GDP by 2015.

Economic sectors have also recorded good growth. The state sector has been restructured and has played a key role in iron and steel production, power distribution and telecommunications. The private sector has effectively developed in various fields with about 9,000 new enterprises for total newly registered capital of more than VND32 trillion. In addition, about 1,800 enterprises have added capital of VND13.6 trillion. The FDI sector has also strongly developed in scale and production capacity.

The province’s agricultural sector has continued developing. To date, the province has established cultivation areas for key crops with total area of more than 1,000 hectares. In addition, the province has paid special attention to trade and services. Statistics showed that during the 2011-2015 period total retail sales of goods and services increased by over 20 percent per year.

Total export turnover has recorded good growth, reaching a 10 percent increase per year through the main exports of traditional commodities, electronic circuitry, electronic products and machinery. Meanwhile, total import turnover has increased by 9.5 percent per year with the main imports being machinery, equipment and raw materials. Expected FDI attraction during the 2011-2015 period of US$5.5 billion has been completed ahead of schedule./.