Hanoi invests efforts in developing key industrial products

Hanoi (VNA) – Hanoi is working to promote the development of key industrial products, expecting 25 - 30 products will earn the recognition this year.

This is part of the Hanoi People’s Committee’s Plan 60/KH-UBND for the implementation of the project on developing local key industrial products in 2021.

Accordingly, Hanoi looks to attract the participation of 20 - 25 enterprises with 25 - 30 products recognised as key industrial products of the city this year.

It will work to ensure 100 percent of the enterprises producing key industrial products will benefit from its support policies, and that those firms will bolster their production value by 10 - 12 percent from 2020. The firms are also expected to contribute 35 - 40 percent of the city’s total industrial production value and 15 percent of the total export value.

The setting of concrete targets for 2021 aims to realise Hanoi’s common goal of developing its strong sectors and industrial products that are able to engage deeply in and contribute high added value to global supply chains, help fuel other sectors’ development, and use environmentally friendly technology.

Authorities will also help improve the competitiveness of key industrial products, step up activities to promote trade, investment and support manufacturers of the products, better the investment and business climate for the firms, assist them in developing human resources, and build mechanisms and policies for developing key industrial products.

The municipal Department of Industry and Trade is assigned to chair the plan implementation, coordinate with relevant departments and sectors to step up communications to popularise the key industrial products, and devise policies and solutions supporting producers of those products.

For the 2021 - 2025 period, the municipal People’s Committee is expected to recognise 150 - 180 key industrial products. Local manufacturers of the products are hoped to contribute 40 - 50 percent of the city’s industrial production value and 20 - 22 percent of total export revenues each year, according to the department.

Thanks to urgent solutions to contain the COVID-19 pandemic and support businesses, the index of industrial production (IIP) in Hanoi grew by about 1 percent month on month and 7.8 percent year on year in July, the municipal Statistics Office reported.

The processing and manufacturing industry expanded 0.3 percent month on month and 7.9 percent year on year. The respective growth rates were 9.5 percent and 7 percent for electricity production and distribution; 0.8 percent and 4.3 percent for water supply, waste and wastewater treatment. Meanwhile, the mining industry contracted 1.9 percent from the previous month but still rose 2 percent from a year earlier.

In the first seven months of 2021, the IIP of Hanoi went up 8.5 percent from the same period last year, which recorded an increase of 4 percent. In particular, processing and manufacturing grew 8.7 percent; electricity production and distribution 7.3 percent; water supply, waste and wastewater treatment 6.8 percent; and mining 3 percent.

In Vietnam, industrial activities have continued bearing the brunt of the COVID-19 pandemic, resulting in mere growth rates of 1.8 percent month on month and 2.2 percent year on year in the July IIP - the slowest pace in seven months, the Ministry of Industry and Trade said.

In July alone, the mining industry shrank 8 percent from a year earlier while processing and manufacturing expanded 2.9 percent; electricity production and distribution up 6.7 percent; water supply, waste and wastewater management and treatment up 4.4 percent.

Many sectors witnessed declines in their production indexes during the first seven months of 2021, including crude oil and natural gas exploitation down 10.4 percent; hard and lignite coal mining 2.9 percent; and machinery and equipment repair, maintenance, and installation 1.1 percent./.