Food processing and consumer goods companies plan to invest about VND6.91 trillion (431.9mio US$) to implement new projects this year, according to the Ministry of Industry.
Under the planned investments, there are large-scale projects such as the second phase of the Bai Bang Paper Company; construction of two breweries, each able to make 100 million litres of beer a year; and capacity expansion by the Viet Nam Garment and Textile Corporation.
The Ministry of Industry has suggested that companies accelerate development efforts and take the initiative to look for new capital resources, as well as reduce construction investment risks. Investors also need to focus on the new projects aimed at modernising the industry, say officials.
In the past, investments have not ended in positive results due to difficulties with land clearance and insufficient capital resources, according to the ministry.
The country’s industrial output in January was estimated at VND46.15 trillion (2.88 billion US$), up 26 per cent over the same period last year.
Source: VNS
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