Shrimp processing at BNA Seafood Company in Quảng Ninh Province's Ba Chẽ District. — VNA/VNS Photo Thanh Vân

The northern coastal province of Quảng Ninh sets a goal that the manufacturing and processing industry in the province will account for more than 15 per cent of GRDP by 2025.

Data from the Quảng Ninh Statistical Office shows that the production index of the province's manufacturing and processing industry rose by 12.99 per cent in the first eight months of this year.

There are 15 out of 21 industries whose indexes increased compared to the same period last year.

Quảng Ninh sets a goal that the average value-added growth rate will reach 17 per cent per year by 2025; total investment capital attraction hit over VNĐ50 trillion (US$2.1 billion), and at least 30,000 new jobs will be created.

Oriented to 2030, the proportion of the manufacturing and processing industry will reach 20 per cent of GRDP; the average value added growth rate will be 20 per cent per year; total investment capital attraction in the area exceed VNĐ100 trillion; and 50,000 new jobs will be generated.

To realise the above goal, the Kinh tế Việt Nam (VnEconomy - Vietnam Economic Times) Magazine quoted Secretary of the Quảng Ninh Provincial Party Committee Nguyễn Xuân Ký as saying that the province will prioritise selectively attracting high-tech processing and manufacturing projects and smart and eco-friendly industries with great added value, modern management, and economical and effective use of mineral resources.

Along with that, the province had implemented many strict control solutions and created support mechanisms to promote processing and manufacturing enterprises that are facing difficulties, Ký said.

The province also have specific incentive policies to form and develop supporting industrial clusters, improve qualifications according to international standards, build many connection programmes between supporting businesses in the area and manufacturing and assembly companies domestically and abroad.

Determining that coal and electricity industries as well as the processing and manufacturing industries play a pivotal role in economic growth, Quảng Ninh continuously seeks ways to overcome difficulties for the coal industry to develop stably and enhance maximum output to meet the energy needs of the economy.

The coal industry's contribution to domestic revenue in the province always accounts for a large proportion (39.1 per cent in 2020, 36.7 per cent in 2021, 40.9 per cent last year).

Total clean coal output in three years is estimated at 135.56 million tonnes from 2021.

The provincial electricity production industry still maintains a fairly stable growth rate. Electricity production has decreased by an average of 1.01 per cent per year.

However, Quảng Ninh is still a locality with high electricity production, creating maximum conditions for the cement, electronics, textile, cooking oil, and flour industries to boost production and increase the number of products, connect and develop consumer markets and export goods.

Currently, the province is building the Quảng Ninh LNG gas power plant, which is the first power project using imported liquefied natural gas (LNG) in the north, with a capacity of up to 1,500MW.

Projects in the field of processing and manufacturing industries in the province have been actively participated in by investors to build technical and production infrastructure.

Thanks to the synchronous implementation of solutions, the proportion of the processing and manufacturing industry in Quảng Ninh's GRDP structure increases year by year.

Specifically, the processing and manufacturing industry accounted for 11.3 per cent of the province's GRDP in 2021, increasing to 11.5 per cent in last year. It is expected that this figure will be 12.3 per cent this year.

Summarising the first two quarters of this year, the total investment capital attracted in Quảng Ninh area reached nearly VNĐ44.02 trillion.

Foreign direct investment (FDI) reached nearly $832 million. Of these, 17 FDI projects were newly granted investment certificates, 2.5 times more than the same period last year, mainly in the field of processing and manufacturing industries, such as two large-scale projects with capital investment of $100 million, including project producing safety products for cars of Antoliv Việt Nam Co., Ltd.; boltun lock, latch and stamping production project of Taiwanese investor.

With long-term development orientations and the results as above, Quảng Ninh's manufacturing and processing industry is forecasted to continue to grow strongly in the near future. — VNS