Vinh Phuc (VNA) – The northern province of Vinh Phuc is working is carrying out activities to give support in finance and equipment to industrial production facilities across the province with an aim to promoting its industrial production amid COVID-19 pandemic, according to the provincial Department of Industry and Trade.   

The department said that it has coordinated with localities across the province to give suitable assistance to particular firms to raise their productivity and products’ quality.

Recently, the Vinh Phuc Centre for Industry and Trade Development has worked with Le Thi Ninh production facility in Tu Du commune, Lap Thanh district, to make pre-acceptance process for a project to give financial support to buy modern machineries and equipment for mechanical production activities, with total assistance of 380 million VND (16,702 USD), including 140 million VND from the province’s fund for industrial encouragement.

The machineries and equipment are expected to help the facility increase productivity as well as its products’ quality, while helping save materials and reduce environmental pollution.

Meanwhile, the Centre for Industry and Trade Development has also finished a project to assist Atlantic packaging company in Dong Doai village, Dao Duc township of Binh Xuyen district to buy equipment and machines to produce plastic packages.

The project has a total investment of 902 million VND (39,647 USD), which has helped enhance the quality and model of the firm’s products, meeting the demands of customers and helping the facility expand its market.

In the 2014-2020 period, Vinh Phuc carried out various activities to expand industrial production with total cost of over 27.8 billion VND (1.22 million USD). The capital has helped local production facility deal with their financial difficulties, encouraging them to expand production.

The activities have brought about positive changes for the northern industrial hub, contributing to promoting growth of local firms and creating more jobs for local labourers.

In the first six months of 2021, Vinh Phuc recorded a decade-high economic growth rate despite difficulties caused by the impacts of the COVID-19 pandemic, according to the provincial Statistics Office.

The office reported that the first-half Gross Regional Domestic Product (GRDP) of Vinh Phuc rose 14.21 percent from the same period last year.

There were also many bright spots in the socio-economic development picture of the province, the office said, attributing them to the involvement of the entire political system and the support of the people and the business community.

As of June 28, budget collection in Vinh Phuc totaled 19.25 trillion VND (836 million USD), a surge of 35.18 percent on a yearly basis. Meanwhile, budget spending stood at over 10.47 trillion VND, up 6.26 percent year-on-year.

The flow of foreign direct investment (FDI) capital into the province also saw a strong increase in the six-month period, with 177.64 million USD poured into 29 projects. Meanwhile, 10 domestic investment projects were licensed, with over 7.5 trillion VND worth of total registered capital.

It is noteworthy that 245 enterprises resumed operation in the reviewed period, up 56.05 percent from the same period last year, while 560 new enterprises were set up.

Regarding employment, 6,880 labourers found job in the six months.

Despite being affected by the COVID-19 pandemic, the industrial production index of Vinh Phuc in the first six months of this year still reached over 145.91 trillion VND (6 billion USD), an increase of more than 26 percent over the same period last year.

Most production and business activities in urban areas in Vinh Phuc have gradually recovered and even expanded. The provincial administration has created favourable conditions for local enterprises, particularly those in industrial parks, to early stabilise production and continue to create jobs as well as income for local residents.

Vinh Phuc is now home to more than 400 FDI enterprises with total registered capital of over 5.7 billion USD. Those enterprises employ around 100,000 workers and unskilled labourers with average monthly income of 7 – 8 million VND.

The provincial administration has appealed to enterprises in industrial parks to join hand with the local authorities to overcome difficulties amid the COVID-19 pandemic, maintain stable production – business activities and pay attention to workers’ life./.