Initial effects of implementing Resolution No.11/NQ-CP

In the first half of this year, Binh Duong focused on implementing measures of inflation control, macro-economic stability and social welfare assurance. This showed remarkable effects of the implementation of Resolution 11.

Implementing Resolution 11/NQ-CP

Specifically, the provincial People’s Committee has launched surveillance and exploitation of budget collections and strived to increase 24% of 2011’s budget collection and cut 10% of basic construction capital from local budget.

Many local businesses maintain good production and business.

The local leaders have steered functional agencies to contact and meet with businesses and laborers to timely solve their problems. Besides, they have launched tax exemption and decrease as well as extended tax payment for enterprises under the Government’s instruction.

In terms of banking and finance, the government has extended 2011’s credit capital mobilization to invest in rural and agricultural fields and spurred balance on foreign currency to meet local economic development…

Remarkable economy

The province maintained a positive growth in the first half of this year, despite obstacles of economy. The total GDP value in the first half of this year surged 13.2% from the same period last year. The local industrial production value was estimated at VND52,799bil, a 17.5% rise from 2010 whilst total retail was at VND25,567bil, a 30% rise from 2010. Besides, local export turnover was at US$4.105bil, a 19.5% increase from last year whilst import turnover was at US$3.580bil, a 35.1% increase from the previous year.

The total state budge collection was at VND11tril, reaching 52% of the provincial estimate. As of June 30, 2011, total mobilized capital at credit bodies was at VND46,563bil, a 24% rise from the same period last year, declining 0.36% from early year whilst the total outstanding loan reached VND47,905bil, a 24.8% rise from the same period last year.

In addition, the province has kept making efforts to implement incentive policies for investors. In the first half of this year, there were 644 local businesses with total registered capital of VND743bil. The entire province now has 11,055 businesses with the total registered capital of VND76,589bil.

Moreover, the province absorbed US$449.2mil in foreign investment capital and 51 added projects with the total capital of US$202.46mil. Meanwhile, local industrial parks lured US$389.1mil, US$212.3mil of which is from 26 new projects.

Social welfare assurance has been excelled by the local administration through policies for the poor, martyrs’ relatives…

Reported by K.Tan – Translated by A.C

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