Hanoi seeks to improve role of manufacturing, processing

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.

In the first nine months of this year, the city's index of industrial production grew by 2.6 per cent compared to the same period last year, driven by manufacturing and processing up 2 per cent; electricity production and distribution up 7.3 per cent; water supply and wastewater and waste treatment up 6.1 per cent. Meanwhile, mining went down 2 per cent.

Hanoi seeks to improve role of manufacturing, processing | Business | Vietnam+ (VietnamPlus)
Hanoi seeks to improve role of manufacturing, processing.

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 favorable 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 support 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 per cent in its industrial structure by 2030.

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(Source: VNA)