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Hoa Binh: Industrial production value hits 37.4 trillion VND

12/03/2020 18:00
Production and business activities in Hoa Binh province recorded good growth in 2019, according to the provincial Department of Industry and Trade. Industrial and handicraft firms maintained effective operation, while the industry and service sectors accounted for a higher percentage of the province’s gross regional product. Key products of Hoa Binh posted increases compared to the same period last year and surpassed the year’s plan.

Hoa Binh-based Sankoh Vietnam Company Limited makes significant contribution to the province’s industrial growth with its export turnover reaching more than 17 million USD. The firm created jobs for over 1,200 local workers.

The province’s industrial production value was estimated at 37.39 trillion VND (1.61 billion USD) in 2019, a year-on-year rise of 15 percent and exceeding the yearly plan by 0.01 percent.

During the year, local firms worked to reduce reliance on sub-contracting and assembling, while investing more in technology and production equipment. Garment-textile and electronic component manufacturing enjoyed high growth.

Notably, the production of electronic devices posted a 2.27 percent increase year-on-year and surpassed the yearly plan by 0.05 percent, while lens output saw a 0.84 percent rise against the same period last year, and surpassed the yearly plan by 0.19 percent.

The output of several products in processing, manufacturing and mining also saw positive growth. Cement and stone posted increases of 0.53 percent and 10.53 percent, exceeding the year’s plans by 5.56 percent and 2.44 percent, respectively./.