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VK TECH Co., Ltd, headquartered in Tran Phu ward, Bac Giang city, specializes in manufacturing and assembling telephone parts and 3D glasses for export. However, it faced difficulties in finding a site for production so it had to hire a workshop in Da Mai ward. Despite its encouraging production and business situation, the company, as a small-sized enterprise, has many problems to solve, especially investment capital. 

Thanks to capital sourced from Bac Giang city’s industrial promotion programme, Nguyen Van Minh, Deputy Director of Bai Oi Carpentry Cooperative in Dinh Tri commune has invested in computer chisels.

Knowing the province’s industrial promotion programme, the company has submitted its dossier and received 150 million VND (6,400 USD) in support from the Center for Industry Promotion and Industrial Development Consultancy under the provincial Department of Industry and Trade. 

"This is a significant resource for the enterprise to invest in two injection molding machines. If we have to borrow money from banks, the cost of products will increase, thus reducing our competitiveness. The company plans to double its production scale in the coming time," Tung said.

According to Nguy Dinh Nghia, Director of the Center for Industry Promotion and Industrial Development Consultancy, over the past many years, industrial promotion activities have been implemented synchronously from the provincial to the district level. 

Regulations on industrial promotion have issued promptly and increasingly perfected. National and provincial industrial promotion funds have gradually increased, with the focus on providing consultancy and support for the development of industries of local strength such as agro-forestry processing, garment, mechanical engineering and building materials production.

There are nearly 20,000 industrial production establishments in the province. The industrial structure in the economy increased from 37.68 percent in 2017 to 42.8 percent this year. At the same time, 435 craft villages and 14,300 handicraft production establishments have been set up, maintained and developed.

Businesses’ inadequate awareness of industrial promotion activities has led to limited response and cooperation of the units. Besides, products remain simple and enterprises do not try to expand the markets, resulting in low consumption. Therefore, some establishments, after investment, have not yet fully tapped their machinery and equipment capacity...

According to Nguy Dinh Nghia, industrial promotion activities in the coming time will focus on mobilizing domestic and foreign resources to support organizations and individuals who invest in industrial production, handicrafts and industrial promotion services, contributing to transferring the economic structure in the direction of developing industries and handicrafts, creating jobs and increasing incomes.

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Quoc Phuong