Hanoi sees industrial clusters as new driver for industrial production
Hanoi will focus on developing industrial clusters as a measure to stimulate industrial production, as most local industrial parks have been filled, resulting in a growth slowdown in the industrial sector.
Hanoi (VNA) 🃏– Hanoi will focus on developingindustrial clusters as a measure to stimulate industrial production, as mostlocal industrial parks have been filled, resulting in a growth slowdown in theindustrial sector, said Vice Chairman of the municipal People’s CommitteeNguyen Doan Toan.
Speaking at a conference of the city’s industry and tradedepartment on January 4, Toan said production households will be moved to industrial clusterswhere there are better infrastructure facilities for them. However, he requestedthat the Ministry of Industry and Trade issue more specific guidance on the selectionof investors to build such clusters. Toan also emphasised the need to select capable investorsfor the construction of industrial clusters. The Hanoi Industry and Trade Department reported that thecity’s industrial production index grew by 7.5 percent, equivalent to over119.7 trillion VND in 2018. Total revenues from retails and services reached 509trillion VND, up 8.9 percent. Earnings from exports last year rose by 21.6 percent to 14.2billion USD. The city’s consumer price index increased by 4.22 percent lastyear, with increases mainly seen in transport, housing and constructionmaterials, medicine and medical services, and food. Among targets set for 2019, the city’s industrial productionvalue is set to rose by 8.6-8.8 percent, export revenues by 7.5 – 8 percent,and retails and services by 9 – 10 percent.-VNA
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Illustrative image (Source: VNA) 
