Industrial promotion fund to give support to traditional craft industries

Update: 08-11-2019 | 11:51:14

Provincial Center for Investment, Trade and Industrial Development Promotion (Department of Industry and Trade) actively encouraged and supported businesses of traditional craft industries to invest in renovating technology and equipment, improve product quality, management capacity and competitiveness to expand their consumer market.

Leaders of Investment, Trade and Industrial Development Promotion Center examine a machinery supporting project at Nhu Ngoc Company.

To improve the capacity of businesses

Nhu Ngoc Company, a private business (Hung Dinh Ward, Thuan An Town) specializing in ceramics production, has been actively seeking consumer markets, shaping products according to customer tastes to create stable jobs for workers, maintain and develop traditional ceramics. This business reorganized its production and business activities; improved designs, product quality, and reduce production costs.

Trương Tư, Director of Nhu Ngoc Company, said that 100% new machinery and equipment of their company were financed by local government. This helped their business complete production processes, meet high customer requirements, increase their competitiveness on the market, and increase sales ... With the support of Investment, Trade and Industrial Development Promotion Center, the company purchased machinery worth VND186.4 million, of which VND90 million financed by industrial promotion fund. It is expected that the payback period of the project is 12 months, after investing in this machinery and equipment.

Previously, without modern machinery and equipment, the company had to outsource some stages. Therefore, the products were often faulty, uneven and unstable in terms of quality and size, so did not meet order's requirements on delivery time, product quality. .

This also made the company depend heavily on the skills as well as working time of other organizations. Because of the investment in modern machinery and equipment, this company saves more time, reduces outsourcing costs, improves product quality, creates regular and stable jobs for their workers, contributing to increasing income and improving workers’ lives.

“The entire production process of our business is closed in all stages. Therefore, the investment in modern machinery helps resolve our business issues”, said Mr. Tư.

According to his estimate, the enterprise has to spend monthly more than VND20 million on outsourcing of auxiliary products. Due to modern machinery and equipment, the enterprise saves this expense; at the same time creates more accurate and beautiful products, meeting the needs of customers, increasing sales and profits.

Currently, workers of this business receive an average salary of VND 5 million each. The enterprise has ensured regular employment for laborers and a stable salary of VND 5.2 - 6.8 million/month.

To closely follow business production activities

According to Provincial Center for Investment, Trade and Industrial Development Promotion, while selecting businesses receiving financial support, the center not only focuses on investment certificate but also talking, finding out aspirations of businesses, benefits brought by businesses to the community. It is direct conversations that the center understands the needs and desires of businesses.

Phạm Thanh Dũng, Deputy Director of the center, said that the implementation of industrial promotion activities contributed to encourage business production facilities to invest in agricultural industrial production, spreading the impact of industrial promotion policies in the area in the near future.

In the last months of 2019, the center continues to adhere to the annual plan to achieve good results, ensure the right objectives and fully support businesses to develop. The center regularly guide, inspect, and supervise to promptly remove difficulties, ensure the completion of the industrial promotion project on schedule; use support funds, implement policies as well as other regulations on the management of industrial promotion activities in accordance with regulations and purposes. This unit also propagates and disseminates policies on industrial promotion activities on mass media to help businesses actively participate in and benefit from these policies to further develop in the future.

In order to heighten the efficiency of industrial promotion fund, every year, during the process of surveying and developing industrial promotion plan, the center attaches importance to properly assessing the capabilities and actual activities of enterprises. The center not only provides financial support but also creates more favorable conditions for rural industrial production establishments to expand production; encourages private economic sectors to develop and contribute to the development of the province's industrial production in the direction of modernity, sustainability, and environmental friendliness.

Reported by Tieu My – Translated by Ngoc Huynh

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Industrial promotion fund to give support to traditional craft industries

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