Sources from the province’s Departments of Finance, Planning-Investment, Industry-Trade, Tax…at a meeting held by provincial People’s Committee on March 25 to approve the local draft report on socio-economic performance, national defence-security in Q1 2014 and orientations, tasks in Q2 2014 showed that the local socio-economic performance in Q1 2014 reached positive changes.

Acceleration from early year

Vo Van Cu, Director of provincial Department of Industry and Trade said that the province’s industrial manufacture in Q1 2014 continued going up.

The province’s industrial production value during the period was estimated at VND44.623bln, up 12.3%. Of these, the domestic investment sector increased by 10.2%, accounting for 32.9% of total while the foreign investment sector grew by 13.3%, accounting for 67.1% of total. 

Noticeably, the province’s traditional export markets like U.S, EU, ASEAN…were gradually recovering. Province-based enterprises also expanded their export markets to South Africa, New Zealand…As of now, some have reached orders till Q3 and the whole year of 2014.

Province-based enterprises’ production and business continued going on smoothness with a total revenue that was higher than the corresponding period last year. Of these, the central State-run enterprises rose by 5%, the local State-run enterprises by 5.4% and FDI enterprises by 15.1%.

The province’s export turnover in Q1 2014 was estimated at US$3.196bln, up 12.7%. Of the total figure, the foreign investment sector increased by 10.9% or 82.2% of total. Some key export products gained a high growth. For example, woodwork reached an increase by 7.8%; garment and textile by 24.9%; electronics by 22.4%...Noticeably, pottery industry saw optimistic signs when its consumption market in Europe was recovering.

In Q1 2014, the province’s total GDP value grew by 9%. The province also absorbed US$728mln in FDI capital, including US$195mln from 28 new FDI projects and US$533mln from extra-ones.

State budget collection with positive change

The province’s State budget collection in Q1 2014 reached positive changes compared to the corresponding period last year.

Le Van Trang, Head of provincial Tax Department said that the province’s domestic revenue in Q1 2014 was estimated at around VND5.543bln or 24.64% of the estimate of provincial People’s Council and 25.9% of the estimate of the Ministry of Finance. With this revenue level, the province is likely to reach its 2014 plan on State budget collection.

But, also according to him, provincial Department of Tax and localities need to drastically take measures to be able to reach the province’s 2014 plan on State budget collection…

Key works implemented

Addressing the meeting, provincial People’s Committee Chairman Le Thanh Cung spoke highly of the efforts by the local authorities at all levels and business community, contributing to promoting the local socio-economic development.

He also said that the province’s results in the socio-economic fields in Q1 2014 showed the drastic instruction of provincial People’s Committee in realizing the Government’s Resolution No. 01/NQ-CP dated 02 January 2014 regarding the key measures to instruct and manage the implementation of socio-economic development plan and estimates of the state budget of 2014 together with the province’s resolutions on socio-economic development, national defence-security. “Regarding many aspects, the province’s socio-economic performance in Q1 2014 reached positive changes; economic sectors also saw an obvious recovery”, he added.

For tasks in Q2 2014, he asked for sectors and authorities at all levels to focus on carrying out key works; consider and redress Q1’s shortcomings…Leaders of sectors were also ordered to have a deeper understanding in instruction and have a coordination with relevant agencies to more quickly deal with affairs and act as advisors for the province to have better administration. Besides, he required localities to concentrate on dredging canals and ditches before the rainy season; further make administrative reforms; have timely solutions to complaints…

Reported by Tri Dung-Translated by K.T