Hanoi seeks to improve role of manufacturing, processing
Illustrative image (Photo: VNA)
The processing and manufacturing industry holds an important position in Hanoi's economic structure. Therefore, the municipal authorities have paid due attention to the development and expansion of this sector to create growth momentum for its gross regional domestic product (GRDP).
In the first nine months of this year, the city's index of industrial production grew by 2.6% compared to the same period last year, driven by manufacturing and processing up 2%; electricity production and distribution up 7.3%; water supply and wastewater and waste treatment up 6.1%. Meanwhile, mining went down 2%.
Remarkable hikes were seen in beverage production, machinery repair and maintenance, drug and medicinal material production, wood processing and wood product manufacturing, and food production and processing.
According to analysts, international experiences show that the processing and manufacturing industry is key to the path to development in order to create prosperity for each country.
Therefore, to promote the development of this sector, the municipal authorities need to focus on building and enhancing the capacity of industrial enterprises; developing strong firms, supply chains and value chains in the country; creating an open and favourable business and investment environment; and effectively developing service industries serving production to contribute to improving productivity and operational efficiency of the processing and manufacturing sector.
Nguyen Manh Quyen, Vice Chairman of the municipal People's Committee, said that Hanoi is focusing on developing infrastructure, including transportation infrastructure with ring roads and metro lines to connect traffic with the inner area. In addition, the capital city has developed 25 industrial parks, of which 10 are operating. For the remaining 15, investment orientations, infrastructure development, and supporting systems are being implemented to attract investment.
Hanoi is striving to complete the goal of industrialization and modernization, become a city with modern industry, and raise the proportion of processing and manufacturing to over 90% in its industrial structure by 2030./.
Related News
Latest News
First Vietnam fruit festival opens in China
14:02 | 30/09/2024 Import-Export
Incheon int'l port creates export channel for Korean office furniture to Vietnam
14:01 | 30/09/2024 Import-Export
20,000 Chinese cars imported in 8 months
09:13 | 30/09/2024 Import-Export
Turning by-products into high-value export products
09:12 | 30/09/2024 Import-Export
More News
10 export groups with an increase of nearly US$30 billion
16:16 | 29/09/2024 Import-Export
Vietnam on quest for specialty coffee development
16:15 | 29/09/2024 Import-Export
Vietnam's logistics sector embraces green transition amid global pressure
16:13 | 29/09/2024 Import-Export
Ministry eyes ensuring supply chain for textiles, footwear
16:12 | 29/09/2024 Import-Export
Breakthrough policy to attract new generation FDI
10:26 | 29/09/2024 Import-Export
Export turnover from durian achieves over US$ 2 billion
10:26 | 29/09/2024 Import-Export
Shrimp export break out in many markets due to price increase
10:24 | 29/09/2024 Import-Export
Khanh Hoa draws Korean investors to green, sustainable industries
19:58 | 28/09/2024 Import-Export
Vietnam on quest for specialty coffee development
19:45 | 28/09/2024 Import-Export
Your care
First Vietnam fruit festival opens in China
14:02 | 30/09/2024 Import-Export
Incheon int'l port creates export channel for Korean office furniture to Vietnam
14:01 | 30/09/2024 Import-Export
20,000 Chinese cars imported in 8 months
09:13 | 30/09/2024 Import-Export
Turning by-products into high-value export products
09:12 | 30/09/2024 Import-Export
10 export groups with an increase of nearly US$30 billion
16:16 | 29/09/2024 Import-Export