The economy develops stably, ensures the completion of targets

Update: 10-07-2019 | 16:48:54

On July 4, Prime Minister Nguyen Xuan Phuc chaired an online meeting with local authorities. In Binh Duong, Nguyen Hoang Thao, Permanent Deputy Secretary of Provincial Party Committee; Tran Thanh Liem, Deputy Secretary of Provincial Party Committee, Chairman of Provincial People's Committee; Vo Van Minh, Chairman of Provincial People's Council; Mai Hung Dung, Permanent Vice Chairman of Provincial People's Committee, attended the online conference.

Production activities at Pungkook Saigon Company (Song Than Industrial Park, Di An Town).

Domestic economy maintains a good growth rate

According to the Ministry of Planning and Investment’s report, GDP growth rate of the first 6 months of the whole country was estimated at 6.76%. Macroeconomic aspect was stable, inflation was under control; Average consumer price index in 6 months increased 2.64% over the same period - is the lowest 6-month average increase in the last 3 recent years. In the first 6 months of 2019, total state budget revenue was estimated at VND745,485 billion, up 13.2%; total import and export turnover was estimated at USD245.48 billion, up 9.05%; industrial production increased by 9.13%; total retail sales of consumer goods and services increased by 11.5% over the same period last year, the highest in the last 3 years; FDI capital reached USD9.1 billion...

In the remaining months of 2019, Vietnam's economy is expected to changes positively thanks to the Government's policies and drastic directions to strengthen macroeconomic, micro-economic foundations, and improve business environment. In addition, the country's economy continues to be supported by strong domestic demand, due to increasing capital inflow from tourism, currency exchange and FDI, the middle class, and strong urbanization.

Speaking at the meeting, Minister of Planning and Investment Nguyen Chi Dung said that 6 months after implementing Resolution No. 01/NQ-CP of the Government and 3 months after implementing Directive No. 09/CT-TTg of Prime Minister on solutions to production and business, ensure the completion of the 6-month and 2019 growth targets. In general, ministries, branches, and localities actively realized the proposed solutions; tasks with completion time in the second quarter basically are on schedule, 60% of the assigned tasks in Resolution No. 01/NQ-CP, 67% of the assigned tasks in Directive No. 09/CT-TTg of the Prime Minister were completed.

In general, socio-economic achievements in the first 6 months of the country are basically positive compared to the region and the world, maintained a good growth rate; macroeconomic stability, inflation were under control...

Besides, the motivation stimulating both domestic supply and demand, in which personal consumption increased strongly; processing, manufacturing industries, and services continued to grow; agriculture gradually recovered.

Binh Duong: Most aspects develop well

In the first 6 months of 2019, Binh Duong Provincial People's Committee implemented drastically resolutions and instructions of the Government, the Prime Minister, Provincial Party Committee, and Provincial People's Council on socio-economic development and defense - security tasks, and achieved comprehensive results. Namely, the province's economy continued to grow stably, most aspects grew higher than the same period last year, maintained expected growth rates and exceeded objectives of 2019. Especially, some major socio-economic targets of the province reached and exceed the 5-year plan 2016-2020, such as FDI attraction reached USD8.4 billion (the plan is over USD7 billion); the rate of communes meeting new rural construction standards reached 100%; the number of employed laborers is 47,000 (the plan is 45,000 people)...

Most provincial targets have been growing steadily, such as gross domestic product (GRDP) increased by 8.09%; total social investment and development capital was estimated at VND40,623 billion, up 12.02%; budget revenue was estimated at VND28,600 billion, up 16% compared to the same period last year. Regarding industrial production, trade - service of the province continued to grow steadily; export markets were expanded and maintained trade surplus; completed the national target program on new rural construction at commune level. Land management, natural resources, environmental protection, forest fire prevention and flood prevention received much attention. Regarding regimes and policies for beneficiaries continued to be fully and timely implemented by the province. The province focused on labor training and job creation; improving the quality of education - training...

Outstanding results in the first 6 months, provincial industrial production index was estimated to increase by 8.08%; total retail sales of goods and services was estimated at VND111,415 billion, up 15.8%; export and import turnover continued to grow well, maintaining a trade surplus of USD3.4 billion...

Speaking at the meeting, Prime Minister Nguyen Xuan Phuc indicated limitations in the first 6 months of 2019, and set out some tasks and solutions in the last 6 months. Thereby, ministries, branches and localities need to take the initiative in grasping the situation, having and promptly adjusting solutions to ensure the implementation of targets in 2019; Combating trade frauds, encouraging innovation, developing the domestic market, making use of newly signed trade agreements; Strengthening management of monetary activities, preventing African swine fever epidemic, attaching importance to agricultural exports, preventing natural disasters and forest fires. Localities enhance the organization of investment promotion conferences, call for domestic and foreign investment capital to invest in regions, select investment fields, and receive large corporations, modern technologies. Regarding capital construction investment, governmental branches and localities need to focus on disbursement; the Government will implement the capital adjustment of localities that do not comply with the plan.

Reported by Phuong Le – Translated by Ngoc Huynh

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The economy develops stably, ensures the completion of targets

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