180 trillion VND for power equipment production

The Ministry of Industry and Trade has approved a master plan to invest a total pf 180 trillion VND to develop the production of electric equipment in the 2006-2015 period.

Under the plan, 43 trillion VND will be used for the 2006-2010 period and the rest will be for the sector’s development between 2011-2015.

According to the ministry, the sector targeted an annual average growth rate of 19-20 percent in production value by 2010 and 17-18 percent between 2011-2015.

The sector is expected to meet 60 percent of local demand for electric wires and transformer stations by 2010 and 70 percent by 2015.

It also plans to meet 55 percent of local demand for electric motors and common electric generators by 2015.

To facilitate the sector development, the Ministry of Industry and Trade has applied some incentives, including those on tariff, investment and market expansion consultancy and investment promotion.

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