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Impressive economic growth in gloomy background

Update: 29-09-2022 | 12:46:50

Morning of September 28, the provincial People's Committee held a regular meeting in September 2022, which was chaired by Mr. Vo Van Minh - Deputy Secretary of the provincial Party Committee, Chairman of the provincial People's Committee, with the participation of Deputy Chairman of the Provincial People's Committee, and leaders of departments and localities. At the meeting, the provincial People's Committee approved the report on the socio-economic situation, national defense and security in the first nine months of 2022 in the area and proposed a number of directions and solutions to maintain the province's development speed.

Mr. Vo Van Minh, Deputy Secretary of the provincial Party Committee, Chairman of the provincial People's Committee is delivering a directing speech at the September regular meeting. Photo: Dinh Thang

Stability maintained

The provincial People's Committee's record shows that the economic growth rate in the area in the first nine months of 2022 is maintained at a stable rate. Accordingly, the total product in the area was estimated to increase by 7.36% over the same period in 2021 and had many prospects to achieve the plan in 2022 at 8-8.3%, which is an impressive growth rate in the context that the world economy is in the verge of recession due to the impact of epidemics and wars.

The 9-month Index of Industrial Production (IIP) was estimated to increase by 8.7% over the same period in 2021. The industrial production situation in the province achieved a good growth compared to the same period last year, and continue to actively, boldly, and digitally transform models in association with partners to expand scale, and ensure sufficient source of raw materials for regular production. The records of the functional sector also show that the situation of leasing land and factories in industrial parks continues to prosper with the total rental area increasing by 200 hectares. Attracting foreign investment in industrial parks was USD 1.83 billion, accounting for 71% of the province's foreign investment attraction. To meet the needs of investors, in the coming time, the province will continue to focus on planning and building the infrastructure of VSIP 3 Industrial Park, and expanding Nam Tan Uyen, Rach Bap and Cay Truong Industrial Parks.

Total retail sales of goods and services in 9 months was estimated at VND 200,928 billion, increasing by 19.9% ​​over the same period. To achieve the above index, the provincial People's Committee has directed functional sectors and localities to promptly monitor market developments, commodity prices, and ensure the balance of supply and demand for essential commodities, business and consumption services of the people, regular programs to contact, meet and work with business associations, industry associations to promptly solve drawbacks and problems. In 9 months, export turnover reached more than USD 27 billion, increasing by 11.9%; import turnover reached USD 19.2 billion.

Multiple solutions to be deployed

In the first nine months of 2022, the province has directed departments and localities to implement socio-economic development plans across sectors and fields to step by step remove shortcomings and problems related to land, investment and business procedures. Administrative procedures are reformed; many important and practical events are organized to create trust and excitement for the business and people communities. The socio-economic situation in the area has prospered and achieved many positive and comprehensive results in all fields. Currently, 14 out of 34 economic targets of the province have met and exceeded the annual plan; 17 have been maintained at a stable increase with the completion rate of 50-85% compared to the year plan that expected to complete at the end of the year.

In hard times, many businesses in the area still make efforts to maintain production, contributing to the completion of many growth targets of the province

In order for the groups of solutions and tasks classified by departments and localities to be effectively implemented, at the meeting, the provincial People's Committee discussed, consulted and approved 28 important contents related to economic fields, society, national defense and security. Speaking at the meeting, Mr. Vo Van Minh highly appreciated the efforts of the departments and localities in maintaining the development and stable growth of the economy - society in the area. He suggested that departments and localities should closely follow groups of solutions, directions and tasks to fulfill the annual plan.

Specifically, the provincial leaders suggested that departments and localities in the fourth quarter should focus on 10 groups of solutions and strategic tasks to maintain the development and growth of the locality along with the government's resolutions on the program of socio-economic recovery and development, and the program on prevention and control of the COVID-19 epidemic in 2022-2023. At the same time, departments and localities should actively review and remove barriers and obstacles to promote investment attraction, production and business operations. In addition, the provincial leaders also suggested that departments and localities should closely monitor the market and commodity prices in order to administer timely solutions to balance and stabilize, especially common commodities like electricity, petrol, foods among others. Promotion activities should be boosted to seek new export markets like India, South America etc.

The province also strives to speed up the construction of the Binh Duong provincial plan for 2021-2030 with a vision to 2050; at the same time, makes separate planning for each field and locality in stages and divides each year to integrate into the general planning of the province. In order to promote the transformation of functions, tasks and restructuring of the industrial economy in the area, the province focuses on completing investment procedures and construction of industrial parks, organize auctions of a number of eligible land plots and study the allocation for public investment works. At the same time, meetings are conducted to remove obstacles in the process of formulating the compensation land unit price; inspection is fostered to strictly handle those who cause environmental pollution.

Reported by Dinh Thang – Translated by Vi Bao

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