Khanh Hoa Province industry grows sharply

In the past 9 months, Khanh Hoa's industrial production value increased more than 12% while the country's industrial production value increased by only 1.65% over the same period last year. This is a bright spot as the country's industrial growth is at its lowest level in the past 10 years.

Outstanding growth

The country's industry so far this year have still encountered many difficulties due to the economic recession and volatile political situations in the world. In that context, the province's industry faced many difficulties, especially the processing and manufacturing industries due to a decline in consumption in large, traditional markets. However, the province has applied many solutions, creating appropriate policy mechanisms, along with the efforts of many businesses to restore production, the province's industrial production index continues to maintain its growth rate.

In September 2023, the province's industrial production index increased by 17.4% over the same period last year. The increase of 9 months was 12.1%. In particular, the operation of BOT Van Phong 1 Thermal Power Plant has contributed to the impressive growth of the production and distribution of electricity, gas, hot water, steam and air conditioning with 115.2%; processing and manufacturing industry increased by 1.5%; the water supply, waste and wastewater treatment industry increased by 6.9%. Some major industrial products had an increase in the 9-month industrial production index, for example, electricity production increased 3.6 times; beer of all kinds increased by 5.7%; cigarettes increased by 19.5%; sugar of all kinds increased by 8.7%. This is truly a remarkable increase.

Production at Sanest Khanh Hoa Joint Stock Company

Nguyen Sanh Duong - Deputy Director of the provincial Department of Industry and Trade said, "Compared to the average growth rate of the country's industry, it is clear that Khanh Hoa has an encouraging increase. Besides objective factors, from the beginning of the year until now, the Provincial People's Committee has actively implemented solutions to support and remove difficulties for businesses to restore production and business activities. The province has focused on directing and accelerating the completion progress of infrastructure construction projects in industrial parks and industrial clusters that are implemented, such as: Ninh Thuy Industrial Park, Trang E 2 Industrial Complex, Dien Tho Industrial Park phase 2, Ninh Xuan Industrial Park. The province has implemented investment procedures for industrial parks of Doc Da Trang and Nam Cam Ranh and promoted attracting secondary investment in industrial parks and industrial complexes that have completed infrastructure. Along with that, industrial producers in the province have recovered and developed strongly; businesses have strived to expand markets and seek orders."

Adding new production capacity to the industry

Achieving a growth rate of 12.1% in a difficult context is the effort of the province and businesses in the province. In the last 3 months of the year, Khanh Hoa industry may achieve higher growth; thereby contributing to the overall economic growth of the province. It is expected that in the fourth quarter of 2023, a number of industrial projects will be completed and put into operation, which will contribute adding new production capacity to the industry.

Unit 1 of Van Phong 1 BOT Thermal Power Plant has commercially operated.

Nguyen Sanh Duong said that in order for the industry to continue to have higher growth, in the last months of the year, the provincial Department of Industry and Trade continues to coordinate with relevant agencies and units to grasp the implementation of infrastructure projects for industrial clusters; collect difficulties, problems, suggestions and recommendations of investors to report to the provincial People's Committee for timely resolution to accelerate completion. With adequate technical infrastructure, industrial clusters will attract investors into production and business, contributing to creating jobs and creating new momentum for industrial development. The Department of Industry and Trade also updates mechanisms and policies to support production and business of central ministries and branches for businesses. In addition, the province continues to encourage businesses to develop and apply smart processing and manufacturing industries to create breakthroughs in new production capacity associated with science - technology, innovation and transformation; promote activities to support the application of advanced machinery and equipment, and apply new technology in production through national and local industrial promotion programs.

Besides supporting businesses to develop effectively and exploit the domestic market, the department also takes full advantage of opportunities and market recovery trends to help businesses promote their search and expand export markets. In particular, the department timely supplies information about the market, support businesses to quickly and promptly respond to new standards of export partners for key product groups and markets that have been signed free trade agreements (FTAs) to create new orders and stimulate industrial production.

Dinh Lam

Translated by T.T