Binh Duong economy shows new changes

In the first months of this year, economy in localities faced many obstacles of inflation, price hike… but with efforts of the whole political system in implementing the Government’s Resolution 11, local socio-economic situation in the first 7 months of this year showed positive changes.

  in a production line at a garment company.

Surging budget collection, reducing expenditure

In the first 7 months of this year, the provincial People’s Committee steered to implement currency management policy and cut public investment and reduce over-expenditure of the State budget.

In terms of budget collection, work of collection source exploitation and management in the province was strengthened, surpassing the proposed targets. The new budget collection reached VND1.7tril, a 14% rise from the same period last year whilst local budget expenditure won VND400bil, 47% of which was for basic construction works.

In addition, the locality reduced 10% of public investment, reducing 39 works with the total capital of VND176bil, halting purchase of new equipments for state agencies, ending unnecessary expenditure.

Production and business spurred

The local People’s Committee steered to spur inspections on finance and operation at the state businesses located at the province, check production expenses and ensure selling prices of goods at reasonable levels.

In the past month, businesses like Vinatex, Co.op Mart launched programs on price stability and 25 goods selling locations at rural areas and industrial compounds.

In addition, the province had more 67 new local businesses with the total capital of VND122.4bil and 127 capital-added enterprises with the capital of VND464.3bil. And, the locality lured 5 foreign projects with the total capital of US$12.2mil.

The local export turnover also surged with over US$4bil, a 19.5% increase from the same period last year. Social welfare work was ensured with assistances for poor households and children under six. The local administration offered subsidies for public servants, armed forces and retired people and poor households…

Reported by K.Tan – Translated by A.C

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