The central province of Thua Thien Hue has adopted a revised industrial development plan to 2020 with a total investment of almost 28 trillion VND (approximately 1.3 billion USD), focusing on sectors with competitive edges such as food processing, textile and paper making.

The province aims to source the investment mainly from foreign investment and joint-venture capital (three quarters of the amount). Around 23 percent of the capital will be raised from local enterprises and bank loans and only 2 percent will come from the State budget.

The Director of the provincial Department of Industry and Trade, Vo Phi Hung, said Thua Thien-Hue is targeting an annual growth rate of 14 – 14.5 percent for its key industries, including agro-fishery-forestry product processing, food and drinks, electrics and electronics, construction materials and handicrafts and small industries.

At the same time, the province will strive to become a regional and national hub for the garment- textile and textile’s support industries, which currently make up 42.78 percent of its industrial output and 78 percent of total export value, he added.

The new industrial development plan has added weaving and dyeing plants with the aim of establishing a complete production chain in the industry from fibre making to weaving and dyeing, thus enhancing manufacturing efficiency and cutting costs for the textile-garment sector.

Besides, paper and paper pulp plants will be built to reduce the export of raw materials like wood and foster forest plantations.-VNA