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US$404 million to be spent on stimulating industrial production

Update: May, 13/2013 - 12:23

The Ministry of Industry and Trade has proposed a State investment of VND8.5 trillion (US$404.7 million) to develop the industrial sector during the 2013-2020 period.— Illustrative image/VNS File Photo

HA NOI (VNS)– The Ministry of Industry and Trade has proposed a State investment of VND8.5 trillion (US$404.7 million) to develop the industrial sector during the 2013-2020 period.

The State funds set aside for the development of both the large and small-scale industrial sectors is 10 times as much as invested during the 2007-2012 period.

Of the sum, VND5 trillion ($238 million) will be allocated to the ministry to manage and implement programmes aimed at stimulating industrial production. The rest will be used to build national and local industry promotion centres.

The new National Industry Production Stimulation Plan until 2020 will see a change in that the ministry also proposes the funds to be used to encourage enterprises to apply clean production technology to protect the environment.

Polluting enterprises will be given financial support to move to industrial zones and complexes.

The plan targets to create 300,000 jobs at rural industry establishments, and construct waste water treatment systems for 215 industrial complexes. – VNS


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