Industrial production continues to grow

With the drastic participation of all levels and sectors along with flexible solutions to remove difficulties for production and business, and the efforts of businesses to overcome difficulties, the province's industrial production in the first 6 months of the year maintains a good growth momentum, actively contributing to promoting the province's socio-economic development.

Manufacturing at Hoa Phat Hung Yen Steel Company Limited

In the first 6 months of the year, negative impacts from loan interest, fluctuating foreign exchange rates, some export markets were narrowed, orders were cut, businesses lacked capital, causing major industries such as iron and steel, footwear, electronics... to be affected; many key products of the province decreased or increased slightly compared to the same period last year, creating a major obstacle to the socio-economic development of the province. Faced with that situation, the province has proactively reviewed and grasped the difficulties and problems of businesses to have appropriate solutions and support; at the same time, urged and created favorable conditions for accelerating the progress of key industrial projects; paid attention to solving labor problems. The province has also focused on improving the business investment environment, promoting administrative procedure reform, and creating the most favorable conditions for businesses. Comrade Vu Quoc Nghi, Head of the Management Board of the province’s Industrial Parks, said: Following the direction of the Provincial Party Committee and the Provincial People's Committee, in the first 6 months of the year, the Management Board of the province’s Industrial Parks continued to implement efficiently and effectively the business support activities. To regularly grasp the status of project implementation and production and business activities of enterprises in the industrial park; receive and promptly resolve difficulties and problems of businesses during project implementation and production and business activities.

In the past 6 months, the whole province has cleared 247 hectares of industrial park and industrial cluster land; the construction of industrial park infrastructure is about 387 hectares. There is one more industrial park infrastructure project (Tho Hoang Industrial Park) decided by the Prime Minister to approve the investment policy and issue an investment registration certificate, with a total registered investment capital of more than 3 trillion VND. There are 4 more industrial clusters approved by the Prime Minister to change the use purpose of rice land, bringing the total number of industrial clusters approved to change the use purpose of rice land to 18 industrial clusters; among them, 13 industrial clusters are conducting site clearance compensation. In industrial parks, 41 new investment projects have been received with a total registered investment capital of 421.6 million USD and 8,107 billion VND.

Manufacturing at Hung Yen Garment Corporation - Joint Stock Company

According to a report from the functional sector, the province's industrial production index in the first 6 months of the year increases by 11.13% over the same period last year. This is the highest increase since 2011. Compared to the planned target and compared to 2023, the industry has had a positive bright spot thanks to the decent growth of a number of industries such as: Processing and manufacturing industry increases by 11.28%; electricity production and distribution increases by 12.04%; water supply, waste management and treatment activities increases by 5.51%. In particular, the processing and manufacturing industry is considered the foundation and driving force for growth of the entire industry. The physical infrastructure system of the processing and manufacturing industry with a large scale, rich in types, and diverse in structure has been formed, meeting the needs of the economy. The proportion of added value of the processing and manufacturing industry is increasing in the GDP of the entire economy; processing and manufacturing industry products have met the needs of the domestic market and exported to many countries with strict product quality requirements, typically: Cotton yarn, fabric woven from synthetic fibers, television screens...

From the beginning of the year until now, the province's trade promotion and investment cooperation activities have increased sharply with dozens of business delegations and economic groups from many countries and territories coming to learn about the investment environment at many new industrial park projects such as: the Clean Industrial Park infrastructure investment and construction project, the Industrial Park No. 05 infrastructure investment and construction project... Besides, the province has received 72 new investment projects (seeing an increase of 34 projects over the same period in 2023), including 42 domestic projects and 30 foreign-invested projects, total registered investment capital reaches 18,027 billion VND and 543.8 million USD. At the same time, adjustments were made to increase capital for 44 projects with a total adjusted investment capital of 3,955 billion VND and 41,669 million USD. Most newly received projects have large capital scale, are consistent with the general development plan of the industry and are able to take advantage of the local industry's advantages. To date, in the province's industrial parks, there are 494 valid investment projects, of which 270 projects have foreign-invested capital and 224 projects have domestic investment capital with a total registered investment capital of 5,072 million USD and 30,482 billion VND.

In the last months of the year, the province directed sectors and localities to focus on implementing such a number of tasks and solutions to develop the industry as: Coordinate and synchronously deploy solutions to attract investment; accelerate the implementation of investment projects, create a favorable environment and infrastructure for industrial development; actively discuss and remove difficulties and obstacles of investors in industrial and commercial projects to help investors speed up the progress of ongoing works and projects to increase production capacity for the entire industry. To proactively accelerate the progress of site clearance and investment in the construction of industrial park technical infrastructure. To promote trade promotion to expand markets, better exploit capital markets, labor markets, science and technology to increase production development capabilities; reform administrative procedures, perfect and improve the efficiency of public services, create the most favorable conditions for investors to feel secure in production and business...