Northern Quang Ninh province has set a target of attracting investment of over VND100 trillion ($4.16 billion) each year to the manufacturing and processing sector by 2030.

The sector is expected to make up 20 per cent of the province’s GRDP by 2030, posting annual growth in added value of 20 per cent.

At least 50,000 new jobs will be created each year.

The sector’s proportion in the province’s GRDP has increased over recent times, from 11.3 per cent in 2021 to 11.5 per cent in 2022. The figure is expected to come in at 12.3 per cent this year.

In the first eight months of 2023, the sector posted growth of 12.99 per cent year-on-year in the Index of Industrial Production, according to the provincial Statistics Office.

To fulfill targets, the province will give priority to attracting investment in manufacturing and processing projects with high technology, great added value, modern administration, and environmental protection measures.

It will also take measures to help manufacturing and processing enterprises overcome the difficulties, offer incentives to develop supporting industrial clusters, and build programs to link supporting enterprises with domestic and foreign producers and manufacturers.