Production activities of most supporting industry enterprises in Ninh Binh Province have been developing relatively well

Pillar industries

According to the provincial planning for the 2021-2030 period, with a vision to 2050, tourism and culture, automobile mechanical industry, innovation and startups, and ecological, multi-value agriculture will become major economic development drivers of the province.

The province-based automobile mechanical industry is expected to attract high-tech and supporting industry investment projects.

Ninh Binh has so far attracted 97 foreign direct investment (FDI) projects totaling almost US$1.676 billion in registered capital from 12 countries and territories. The Republic of Korea has become the biggest and second biggest foreign investor in the province in terms of the number of projects and investment value (45 projects worth US$450.18 million, accounting for 27 percent of the total).

Investment projects in the industrial sector have made significant contributions to the formation of the supporting industry, which is growing strongly in the fields of textile-garment, leather and footwear, electronic components, and automotive parts.

Recently, Ninh Binh Province has attracted numerous high-tech foreign direct investment (FDI) projects, including a camera module and electronic components manufacturing plant of Mcnex Vina Co., Ltd., an automotive wiper blade manufacturing plant of ADM 21 Co., Ltd., the DNC Automotive project, and the wiring harness factory of Esmo Vina Co., Ltd.

In addition, various textile, garment, and footwear projects have been put into operation, including the Ninh Binh Export Footwear Factory of Ninh Binh – Vietnam Chung Jye Shoes Manufacturing Co., Ltd., the Export Footwear and Materials Factory of ADORA Vietnam Shoes Company Limited, and the Viennery Footwear Processing Factory of Montop Holdings Limited.

Notably, after over 15 years of operation, the joint-venture company between Hyundai Motor and Thanh Cong Group has implemented eight projects with a total registered capital of more than VND12.138 trillion. Among these, the largest is the HTMV2 Plant project, with an investment of VND3.208 trillion and a production capacity of 100,000 passenger cars per year, expected to reach 180,000 cars per year by 2025. These eight projects have been highly effective, contributing VND15 trillion annually to the state budget and creating jobs for 5,000 workers.

High-tech and supporting industry development

The province will accelerate the development of industrial zones and clusters, build and implement supporting industry infrastructure development programs, and prioritize high-tech and supporting industry projects.

According to the Ninh Binh Provincial Department of Industry and Trade, production activities of most supporting industry enterprises in the province have been developing relatively well, supplying a large volume of products to key domestic industries and global value chains, and contributing to increasing the local contents of industrial products.

Ninh Binh will continue to focus on attracting investment, giving priority to high-tech and environmentally friendly production projects that create high value-added products for export.

The province continues to develop mechanisms and policies to support the growth of specialized industrial zones and clusters, including investment promotion, infrastructure development, and transportation connectivity. It aims to attract industrial investment through the development of industry-linked clusters, particularly in the fields of automobile manufacturing and assembly, mechanical engineering, electronics, textiles, and footwear. Efforts are also being made to diversify partnerships and joint ventures with foreign investors to supply components and auxiliary products, fostering the growth of production chains./.