2:07:34 PM | 7/1/2008
In Cao Bang today, with a backdrop of mountains and jungles, new industrial projects have emerged. In spite of difficulties, with the assistance of the central government, the determination of local authorities and people, and the cooperation of investors, the above objectives can be achieved. The industrial sector can be the driving force for the integration and development of Cao Bang.
Big resources, big opportunities
Cao Bang industry has recorded fine achievements. In 2007, the growth rate is 17%, with production value of VND400 billion. However, with many important resources for development still undeveloped, Cao Bang industry remains far below its potentials. Opportunities are wide open for investors. In addition to rich and diversified resources, investors can also enjoy preferential treatment from local authorities.
In July and September 2007, Cao Bang organized two investment promotion conferences, in Hanoi and Ho Chi Minh City, attracting five investment projects in industry with total registered capital of VND1,958 billion. This shows that investors are attracted by Cao Bang’s potential.
In iron ore, the province has 20 mines with deposits of some 60 million tonnes of high quality and under the exploitation of medium size projects. Annual output is nearly 300,000 tonnes of iron ore and over 30,000 tonnes of cast iron. Recently, the province has several enterprises engaging in intensive processing of iron ore. In particular, in 2007, Vietnam minerals and metallurgy joint stock company started building a plant producing soft iron and steel ingots, the first of its kind in Cao Bang, with investment capital of VND174 billion and capacity of 200,000 tonnes/year, which will be completed and start operating in June 2008.
In manganese ore, the province has 9 mines with deposits of some 9 million tonnes. So far there are three projects with one already producing manganese ore, the Phong Chau ferromanganese plant with capacity of 15,000 tonnes a year for domestic and export demand. To increase value, the province is calling on investors to produce dioxide manganese for battery production, chemicals and ceramics.
In bauxite alumina, the province has 29 mines with deposit of some 180 million tonnes, but remains without a processing industry. Bauxite alumina is as hard as diamond and can be used for industrial saw blades, metallurgy furnace, construction and power grid. With adequate capital and technology investment, bauxite alumni can bring big profit for investors.
In tin resources, the province has deposits of some 4,000 tonnes. Currently, Tinh Tuc tin mine (one of 16) produces some 400 tonnes a year of 99.75% purity. The purity must be at 99.99% for market consumption in food packaging. Therefore, it is a good opportunity of investors as Vietnam is presently importing this product for the food processing industry.
With fast flowing rivers (Bang, Hien, Quay Son, Bac Vong and Gam), the province has great potential for the development of small and medium sized hydropower projects. According to expert surveys, the province can build numerous hydropower plants with total capacity of 300-400MW. In 2007 the province already has 24 such projects under preparation with capacity of 190MW, including Pac Khuoi (10.5MW) capitalized at VND234 billion, to be operated in 2009.
Cao Bang also has other promising areas for investment such as forestation and planting material zones for the processing and pharmaceutical industries. These are high value products for export.
Industry as a driving force
Cao Bang Party Committee Congress (2006-2010) has identified industry as the driving force of economic growth, and set objectives for 2010 of industrial production value at VND1,500 billion (1994 price) and average growth at 31.5% a year.
To this end, the industry sector is accelerating planning for 2006-2010, and to 2020, and promoting the development of industrial zones in De Tham commune and an industrial centre in Ta Lung – Phuc Ho, advising the People’s Committee on a more favourable legal framework for investment, applying preferential treatment and encouraging local and foreign input for industrial development.
The industrial sector must also focus on training managers and skilled workers, planning and investment projects, accelerating administrative reform and developing partnerships with businesses.
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