Hanoi earmarks US$8.63 million for development of key industrial products
VietReader 15-10-2020, 11:17
A production line of the Hanoi Plastics company

It has set a target of having 150 to 180 products recognised as key industrial ones by 2025, the Hanoi Department of Industry and Trade has said.

Companies specialising in key industrial products are expected to make up half of the capital’s total industrial production value and 25% of its export revenue by that time.

Some 200 businesses will enjoy incentives from the city each year.

Their brands will be promoted in domestic and foreign markets and the companies encouraged to apply advanced technology and equipment in a bid to raise capacity and international integration.

By 2025, Hanoi will have set up large-scale industrial product manufacturers boasting competitiveness in the foreign arena and roles in global supply chains. They are also to act as a driving force for the city’s small- and medium-sized enterprises in the same field.

To realise targets set, the capital is due to select suitable key products and bolster trade promotions.

Local authorities will also exert efforts to improve the investment climate for major industrial firms and provide support in the application of science and technology and human resources development.

In 2018, Hanoi recognised 61 key industrial products and top 10 ones. The total revenue from the 61 products reached VND40 trillion, up 28.4% annually, making up 32.5% of the total industrial production. Exports surged 74% to upwards VND10 trillion.

Since early of 2019, as many as 31 firms with 40 products have registered for key industrial production recognition. Their revenues are estimated at VND6 trillion and exports at VND1.6 trillion.

Also under a programme on promoting the city’s industrial development for the 2021-25 period, Hanoi is striving to expand handicraft export markets for an annual growth of 8% in export turnover.

The programme also aims to create over 3,500 products of handicraft and fine arts for domestic and foreign markets.

In the coming time, Hanoi will invite foreign importers and international friends to its annual handicraft fair to seek partners.

Through the programme, the city also aims to support more than 10,000 businesses and industrial establishments in rural areas and help up to 70,000 rural labourers find stable jobs.

To fulfil the target, Hanoi will hold 300 vocational training courses for rural workers in the period and work to develop high quality human resources and raise management capacity in the sector.

It will also assist firms and industrial establishments in rural areas in investing in new equipment and applying advanced technology in a bid to increase productivity and quality products and save costs.

Hanoi is leading the country in handicraft products. The sector generated jobs for nearly 1 million workers with an average annual income of about VND55 million (US$2,365) each.

The capital has 1,350 craft villages, accounting for 60% of the total nationwide.

These craft villages are diversified and cover different trade groups including processing forest and agricultural products, lacquer, bamboo, embroidery, mechanics, sculptures and garments.

Many handicraft products associated with rural culture are almost intact and have developed into a profession, such as the carpentry village of Chang Son in Thach That district.

Bat Trang commune, which has thousands of households engaged in pottery production, is another typical example.

In addition, Hanoi recently announced 275 products meeting standards of the “One Commune – One Product” (OCOP) programme at the municipal level in 2019, raising the total number of such products here to 301.