Budget for industrial development to increase by 50 percent

Hanoi (VNA) - A total of 165 billion VND will be spent on industrial stimulation
this year, the Industry and Trade Ministry said, adding that this represents a 49.75
percent increase over 2008.

Of the total, 80 billion VND will go to national industrial extension programmes, up
60 percent, and the rest will be used for industrial development in localities, a
rise of 41.24 percent.

The ministry's Local Industrial Development Department said it has asked provincial
industry and trade departments to draw up their industrial development plans up to
2015.

The department has proposed policies to lure investment in industrial development in
61 underprivileged districts and develop small- and medium-sized industrial
enterprises in poor provinces.

According to the department, industrial production in rural areas is expected to
see a growth rate of 16 percent this year, which will generate more jobs and raise
earnings for farmers.-Enditem