Dong Nai adopts mechanical engineering strategy
(VOV) - Southern Dong Nai province has approved a mechanical engineering development plan for 2020 with the aim of attracting more than US$2.37 billion in investment capital by 2025.
Provincial Department of Industry and Trade Director Le Van Danh said his province considers mechanical engineering a key industry for socio-economic development and will priotize developing competitive industries, such as producing metal structure, boilers, electric equipment, motive power machines and agricultural machines.
It will focus on improving support industries to increase the localization rate of machinery and equipment and actively engaging in the global chain of value.
Under the plan, solutions and incentive policies will be worked out to attract investment capital into the engineering industry by 2025.
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Manufacture has recently experienced rapid development, since the end of 2011 Dong Nai has managed to lure 32 projects in the field.
By June 10, 2013, provincial industrial zones attracted 270 foreign invested projects, of which the engineering industry with US$3.237 billion accounted for 22.2% of total investment capital. Meanwhile, domestic businesses have invested a staggering VND5.682 trillion in 49 engineering projects.
The industrial production of the engineering industry tripled from 2005 and made up more than 20% of the province’s total industrial value with exports fetching US$1.2 billion in 2013.