Vinh Phuc (VNA) – The northern province of VinhPhuc is working is carrying out activities to give support in finance andequipment to industrial production facilities across the province with an aimto promoting its industrial production amid COVID-19 pandemic, according to theprovincial Department of Industry and Trade.   

The department said that it has coordinated with localitiesacross the province to give suitable assistance to particular firms to raisetheir productivity and products’ quality.

Recently, the Vinh Phuc Centre for Industry and TradeDevelopment has worked with Le Thi Ninh production facility in Tu Du commune,Lap Thanh district, to make pre-acceptance process for a project to givefinancial support to buy modern machineries and equipment for mechanical productionactivities, with total assistance of 380 million VND (16,702 USD), including140 million VND from the province’s fund for industrial encouragement.

The machineries and equipment are expected to help thefacility increase productivity as well as its products’ quality, while helpingsave materials and reduce environmental pollution.

Meanwhile, the Centre for Industry and Trade Development hasalso finished a project to assist Atlantic packaging company in Dong Doaivillage, Dao Duc township of Binh Xuyen district to buy equipment and machinesto produce plastic packages.

The project has a total investment of 902 million VND (39,647USD), which has helped enhance the quality and model of the firm’s products,meeting the demands of customers and helping the facility expand its market.

In the 2014-2020 period, Vinh Phuc carried out variousactivities to expand industrial production with total cost of over 27.8 billionVND (1.22 million USD). The capital has helped local production facility dealwith their financial difficulties, encouraging them to expand production.

The activities have brought about positive changes for thenorthern industrial hub, contributing to promoting growth of local firms andcreating more jobs for local labourers.

In the first six months of 2021, Vinh Phuc recorded adecade-high economicgrowth rate despite difficulties caused by the impacts of the COVID-19pandemic, according to the provincial Statistics Office.

The office reported that the first-half Gross Regional Domestic Product (GRDP)of Vinh Phuc rose 14.21 percent from the same period last year.

There were also many bright spots in the socio-economic development picture of theprovince, the office said, attributing them to the involvement of the entirepolitical system and the support of the people and the business community.

As of June 28, budget collection in Vinh Phuc totaled 19.25 trillion VND (836million USD), a surge of 35.18 percent on a yearly basis. Meanwhile, budgetspending stood at over 10.47 trillion VND, up 6.26 percent year-on-year.

The flow of foreigndirect investment (FDI) capital into the province also saw a strongincrease in the six-month period, with 177.64 million USD poured into 29projects. Meanwhile, 10 domestic investment projects were licensed, with over7.5 trillion VND worth of total registered capital.

It is noteworthy that 245 enterprises resumed operation in the reviewed period,up 56.05 percent from the same period last year, while 560 new enterprises wereset up.

Regarding employment, 6,880 labourers found job in the six months.

Despite being affected by the COVID-19 pandemic, theindustrial production index of Vinh Phuc in the first six months of this yearstill reached over 145.91 trillion VND (6 billion USD), an increase of morethan 26 percent over the same period last year.

Most production and business activities in urban areas in Vinh Phuc havegradually recovered and even expanded. The provincial administration hascreated favourable conditions for local enterprises, particularly those inindustrial parks, to early stabilise production and continue to create jobs aswell as income for local residents.

Vinh Phuc is now home to more than 400 FDI enterprises with total registeredcapital of over 5.7 billion USD. Those enterprises employ around 100,000workers and unskilled labourers with average monthly income of 7 – 8 millionVND.

The provincial administration has appealed to enterprises in industrial parksto join hand with the local authorities to overcome difficulties amid the COVID-19pandemic, maintain stable production – business activities and pay attention toworkers’ life./.