Twelve companies were awarded 'Gold Cups' for the exceptional achievement at the inauguration of Viet Nam International Industrial Fair (VIIF 2005) in Ha Noi on Oct. 19.
Companies such as Ha Noi Enamelled Tile, Viglacera Floating Glass, Tam Diep Cement and Thanh Ha Joint Stock featured among list of 12 businesses.
Moreover, 58 premium items of Vietnam and 22 domestic and foreign companies were presented gold medal by organisers.
Production chains, machinery, equipment, construction materials, textile and garments, leather shoes and footwear, and processing items were all exhibited at the fair.
More than 100 foreign companies and 300 domestic ones are participating at the fair that is open till October 23.
With strong economic growth recorded in most of the industrial sectors that have been attracting not only large capitals but also advanced expertise, technologies, equipment and machinery to replace the old and outdated ones, Vietnam market advantage highlighted by business community is geographic location, abundant resources, skilled labor force with low cost, favorable investment environment with variety of incentives, and a massive market with 81 million of consumers.
Vietnamese industry has reached a growth rate of 15,5% in first 10 months of 2004 compared to the same period last year and contributed 3,3% in 7,4% of the county GDP growth rate and accounted 70% of total USD 21,3 billion export value.
The key sectors have recorded high growth rate as likes: Mining industry - 20,5%; Processing - 15,2%; Energy - 11,9%; Electronic - 33,2%; Garment - 21%; Fishery - 17,1%; Motorcycle assembly - 46,8%; Woodwork - 85%; Cycle production - 121,2%; Construction, Paper, Fertilizer, Chemicals … sectors have increased more than 10 percent against last year.
According to all accounts, in coming time, Vietnam's Industry and economy in general still maintaining the impressive high growth rate thanking to strongly increasing domestic demands increase of export.
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