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/ March 8, 2021

Kien Giang sets aside over 750 million USD for building new-style rural areas

On Hon Tre island, Kien Hai district, Kien Giang province (Photo: VNA) hập mô tả cho ảnh Kien Giang (VNA) - The Mekong Delta province of Kien Giang aims to have all of its 116 communes fulfil the criteria in the national target programme on building new-style rural areas in the 2021-25 period, with funding estimated at some 17.4 trillion VND (751.47 million USD). In 2021 alone, nine communes strive to win recognition, while the districts of Vinh Thuan and Kien Luong as well as Ha Tien city are to accomplish the task of building new-style rural areas. Local authorities also strive to fulfil targets on the rate of households with access to clean water of 99 percent and health insurance coverage of over 90 percent, and the reduction of the multidimensional poverty household rate of 1 percent while creating 35,000 jobs. The province will bolster the transfer and application of modern technologies in agricultural production and consider models for large-scale agricultural production, supply chains, environmental protection, climate change adaptation, and agricultural cooperatives. Due regard will be paid to the “ One Commune , One Product” (OCOP) programme, as Kien Giang aims to have up to 50 products of at least three-stars. Some 64 billion VND will be allocated for the implementation of the programme. In the centre of Rach Gia city, Kien Giang province (Photo: VNA) Kien Giang earmarked over 732 billion VND last year for building new-style rural areas , in particular infrastructure investment. More than 6,365 km of rural roads were cemented and irrigation networks improved. The rate of poor households came down to 1.69 percent. As of the end of January 2021, 81 communes in Kien Giang had been recognised as new-style rural areas. Eleven districts and cities had half of their localities complete necessary tasks./. VNA …

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/ March 8, 2021

Kien Giang prioritises attracting foreign investment in five main pillars

Five main pillars have been prioritised, namely high-tech agriculture; clean and renewable energy; tourism; trade-services, education-training, and high-quality healthcare; and developing the sea-based economy in association with ensuring defence-security. Kien Giang targets attracting 30-40 FDI projects with total capital of 60-100 million USD during the 2021-2025 period and 40-50 projects with 80-120 million USD in 2026-2030. The province has also set a target of the number of projects using technologies from G7 or OECD countries accounting for 45-50 percent of the total during 2021-2025 and 60-70 percent during 2026-2030, with the localisation rate to equal the country’s average. It expects to create about 175,000 jobs and collect 545 million USD for the State budget during 2021-2025 and over 680 million USD during the next five years. To increase the quality and efficiency of foreign investment, it will bolster its administrative procedure reform and publicise investment registration and assessments of FDI projects. It also encourages projects using clean and environmentally-friendly technologies and employing local workers. It will not consider foreign investors using out-of-date technologies that present a risk of environmental pollution. Foreign businesses are also encouraged to voluntarily increase technology transfer. Kien Giang commits to creating favourable conditions for foreign enterprises in training and improving workplace skills. Source: VNA …

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/ March 8, 2021

Vietnamese textile industry sees huge export opportunities

A production line at the The Ky Yarn Joint Stock Company (Photo: VNA) HCM City (VNS/VNA) - The textile and apparel industry , which managed to survive three waves of COVID-19 thanks to its decision to produce face masks and personal protective equipment, will focus on sportswear and yarn, according to the Vietnam National Textile and Garment Group . Le Tien Truong, its general director, said demand for face masks and personal protective equipment will shrink rapidly. Armed with their experience of coping with the pandemic, many textile and footwear enterprises are quietly confident of altering plans when required and finding new markets to cope with new situation after COVID-19 is under control. Sportswear has arguably been the most successful segment during the pandemic as awareness of physical exercise rose. According to Euromonitor International, in 2020 the demand for sportswear world-wide decreased only about 8 percent, the lowest in an industry which saw an overall decline of 16 percent. The compounded annual growth rate for the sportswear market in the last five years was 6.5 percent, 1.5 times the industry average, and it is expected to be worth 479 billion USD globally by 2025. The Thanh Cong Textile Garment Investment Trading JSC is considered one of the most successful businesses in 2020 thanks to seizing opportunities to export COVID-19 related apparel products such as fabric masks and PPE. But Tran Nhu Tung, its deputy general director, said the demand for cloth masks and protective gear is returning to pre-COVID levels with the advent of vaccines. This year his company has stopped taking orders for medical protective gear and antibacterial masks. It is focusing on traditional products such as T-shirts and sportswear, demand for which would continue to increase, and there are already enough orders for sportswear for the first 6 months of the year, he said. According to the Vietnam Textile and Apparel Association, …

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