Red River localities join hands to attract investment

Industry and trade sectors of 14 cities and provinces along the banks of the Red River have agreed to strengthen their cooperation and make full use of regional connectivity to attract more investment, exploiting the potential and advantages of each locality.
Industry and trade sectors of 14 cities and provinces along the banks ofthe Red River have agreed to strengthen their cooperation and makefull use of regional connectivity to attract more investment, exploitingthe potential and advantages of each locality.

Theagreement was reached during a conference between sectorrepresentatives from the localities in Hanoi on August 30.

They will continue updating information and effectively removedifficulties for businesses by working more closely with relevantagencies for the rest of the year.

Accordingly,they will discuss with People’s Committees in the region to seeksolutions to obstacles in the implementation of projects, clearing theground to develop industry and a trade infrastructure system.

Local Industry and Trade Departments will continue to renovate methodsto promote trade in foreign markets, focusing on promising destinationsas well as products with high domestic consumption and export demand.

Meanwhile, the programme of stabilising prices of some necessary commodities will also be maintained.

In the first seven months of this year, industry production in the RedRiver Delta and North Central regions reached nearly 1,080 trillion VND(more than 51.4 billion USD), a 32.3 percent rise year-on-year, whilethe national figure saw only a 5.2 percent increase against the sameperiod last year.

Despite climbing inflation, theregion’s retail and consumption services still posted 440 billion VND ofturnover in the January-July period, rising 13.5 percent year-on-yearand accounting for 29.6 percent of the country’s total. Hanoi sawthe greatest turnover in the region.

At the sametime, the area earned more than 27 billion USD in exports, up 47.1percent over 2012 and 37.1 percent of the national total.

Hanoi , Hai Duong, Hai Phong and Quang Ninh are leading localities in exports.

In 2012 and the first seven months of 2013, the localities invested asmuch as 761.5 billion VND in supporting businesses engaged in the pricestabilising programme.

The localities also organised 927 mobile shops to make sure people in mountainous and remote areas were serviced.-VNA

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