Industry is the spearhead of growth

Industrial production is the bright spot of Hai Duong's economy in the first 6 months of 2024. Photo: Thanh Chung

Bright Spot

In the first 6 months of 2024, the province's industrial production is estimated to increase by 13.9%, ranking 9th in the country in terms of growth rate. This growth momentum has been maintained since the last months of 2023 and is forecast to continue to reach high levels in the coming time when the economy shows clear signs of recovery. 34 out of 36 industrial sectors in the province have high and even growth rates.

The electricity production and distribution industry increased by 18.9%, causing the overall index of the entire industry to increase by 1.8%. The reason is that 2 thermal power enterprises in the province were mobilized to produce at high capacity from the beginning of the year. Pha Lai Thermal Power Joint Stock Company alone has overcome the problem of the S6 generator, so the electricity output in the first 6 months of 2024 increased by 77% over the same period last year. According to the leader of Pha Lai Thermal Power Joint Stock Company, in the first 5 months of 2024, the preliminary profit from the electricity production segment of the enterprise reached 135 billion VND, with an estimated production output of 2.2 billion kWh.

The electrical equipment manufacturing industry has grown strongly with an increase of 45% due to the strong industrialization, modernization and urbanization process, creating opportunities for electric cable manufacturing enterprises to develop...

The motor vehicle manufacturing industry grew by 13.1%, mainly due to the production of auto parts. Recently, the increasing demand for cars has created favorable conditions for businesses producing auto parts and accessories to develop and grow. Along with that, the increasing demand for electronic products and electronic equipment has created motivation for businesses in this field to develop. Therefore, this manufacturing industry grew by nearly 11%.

Recently, the garment industry has recovered and developed again when the export market was cleared. Many textile and garment enterprises in the province have signed orders until the end of the third quarter, even the end of 2024. Thanks to that, this industry increased by 13.4%. Food production and processing with the main product being animal feed also achieved an increase of 12%. This industry is facing a "golden" opportunity when the demand for food is increasing while the price of raw materials for animal feed production is hitting rock bottom.

According to the Provincial Statistics Office, in the first 5 months of 2024, the growth of the animal feed production industry in Hai Duong reached 12.1%. This is a positive growth rate, marking the re-development of animal feed production activities as well as the livestock industry in general.

In addition to the industries with high growth rates, the province has two industries that are still facing difficulties and recovering slowly. The non-metallic mineral manufacturing industry (cement, bricks and tiles) decreased by 6.9% due to the construction materials market still struggling while real estate is still facing difficulties, not creating a boost for this sector. However, it is forecasted that in the coming time, when public and private investment projects start and accelerate, the growth of this industry will improve. In addition, the mining industry decreased by 2.2% because some mineral mines have expired, some mines that have been bid are in the appraisal and exploration stage, so there are no products yet.

Create motivation

In the coming time, Hai Duong continues to attract large-scale industrial production projects.

Along with the general economic recovery, the positive growth of Hai Duong's industry is due to the proactiveness and urgency of the provincial Party Committee and government in proposing appropriate and effective development solutions.

Identifying a breakthrough in industrial development as a key task to create spillover and stimulate growth in other sectors, the province has synchronously deployed many solutions to promote this key economic sector. Party committees and authorities focus on leading and directing the improvement of the investment and business environment, enhancing competitiveness (in 2023, Hai Duong's provincial competitiveness index - PCI increased by 15 places, ranking 17th in the country). The province actively removes difficulties for businesses in production and investment activities; proactively promotes trade and investment; simplifies administrative procedures; promotes the completion of traffic infrastructure and social infrastructure to attract investment...

Although industry is a prominent sector, according to the growth trend in the first half of 2024, in the second quarter, Hai Duong's industrial production showed signs of slowing down. Many industries with a sharp increase (over 20%) in the first quarter have slowed down, such as textiles, paper production, rubber and plastic, interior wood, etc. At the same time, some key industries of the province such as food production, leather shoes, automobiles and spare parts also grew more slowly. This reality requires the province to have effective solutions to create leverage to promote industrial development and maintain higher growth rates.

To maintain high, stable and sustainable growth, in the coming time, the province will continue to effectively implement the Project on high-tech industry, supporting industry, the industrial promotion program for the period 2023-2025 and local industrial promotion. At the same time, focus on promoting investment attraction for large-scale production and business projects, creating high added value in the processing, manufacturing, electronics, semiconductor industries, etc. Thereby strongly restructuring the province's industry towards increasing the proportion of processing and manufacturing industries, reducing the mining and resource use industries. Thanks to that, industrial production continues to be a bright spot in the province's economic picture in 2024.

Next: Breakthrough in budget collection

STRONG

Source: https://baohaiduong.vn/buc-tranh-kinh-te-xa-hoi-hai-duong-6-thang-dau-nam-2024-bai-2-cong-nghiep-la-mui-nhon-tang-truong-386032.html