AsemconnectVietnam - In the northern province of Tuyen Quang, each dong (VND) of industry promotion funding attracted more than VND3 of reciprocal capital from project beneficiaries.

The Tuyen Quang Provincial Department of Industry and Trade’s data show that VND97.627 billion of industry promotion funding was disbursed in the locality from 2012 to 2022, VND76.944 billion of which was reciprocal capital from beneficiaries, meaning each dong of industry promotion funding attracted more than VND3 of reciprocal capital from beneficiary enterprises.
Over the past 10 years, 187 industry promotion projects have been implemented in Tuyen Quang Province, providing support for 238 rural industrial establishments, mostly in struggling and extremely difficult areas. A department representative held that industry promotion projects have helped increase the province's year-on-year industrial production value and created thousands of jobs, contributing to poverty reduction and rural industrial development.
Industry promotion projects have helped rural industrial producers procure advanced machinery and equipment, build new product manufacturing models and maintain stable production.
The department has endeavored to ensure sufficient capital for industry promotion and take advantage of capital from national industry promotion projects and national target programs in order to efficiently implement industry promotion projects in the province. It has also mobilized capital from other sources for industry promotion, apart from making efficient use of the local industry promotion funding.
Tuyen Quang has formed a team of industry promotion collaborators to help rural industrial establishments solve difficulties and develop production. It has built industry promotion project data and detailed guidance on industry promotion project construction and implementation.
Source: Ven.vn