Local economy reaches stable development, creating momentum to fulfill year’s plan

Early August 1, provincial People’s Committee held a periodic session with focus on reviewing the local socio-economic situation, national defence-security in July and over the past seven months. Tran Thanh Liem, Vice-Secretary of provincial Party Committee, Chairman of provincial People’s Committee chaired the session.

Trade surplus at US$3.8billion

In July, the province’s industrial manufacture, trade-services and agricultural production continued gaining stable development. Noticeably, the province’s export value and FDI attraction obtained high growth compared to the same period last year. The province’s Stage budget collection and spending were also ensured.

This is a production line of Tetra Pak Company in the Vietnam-Singapore Industrial Park

Over the past seven months, the province’s index of industrial production surged 8.1%. The province’s total retail sales revenue of commodities and services was more than VND130.1trillion. Consumer price index increased by 2.15% against the corresponding period last year. Export turnover was estimated at more than US$15.5billion, up 13.3% over the same period last year. Some main export products on garment-textile, footwear, woodwork, electronics… gained high growth at 14.9%, 12.5%, 15.5%, 12.6%...in comparison with the same period last year, respectively.

Also during the period, the province’s import value was more than US$11.2billion. Thus, the province’s trade surplus was US$3.8billion. The province’s State budget collection was VND33.8trillion, up 14% against the same period last year. In addition, the province also absorbed more than VND32.9trillion in domestic investment capital from 3,476 newly-registered projects and 492 extra-ones. In terms of FDI attraction, the whole province lured more than US$1.55billion, up 72% compared to the same period last year, from 129 newly-registered projects, 66 projects increasing capital and 278 projects registering for capital contribution.

Speaking at the session, Mr.Liem asked for sectors, authorities at all levels of the province to continue well realizing tasks, solutions under the instruction of the Prime Minister, provincial Party Committee, People’s Council, aiming to fulfill and surpass targets for 2019. Provincial People’s Committee will also continue removing difficulties; boost capital disbursement for public investment; consider and handle the local traffic congestion and accidents.

Creating new motivation for development

From now till year-end, the province will concentrate on well realizing the Resolution of provincial People’s Council approved at its mid-year session; set up the local plan on socio-economic development, State budget estimate and public investment plan for 2020; put forth the local plan on State budget for three years from 2020 to 2022…

At the session, provincial People’s Committee disseminated a directive on setting up the local plan on socio-economic development, State budget estimate for 2020. Accordingly, the province will strive to reach its GDP increase at over 8.5%. The province will also effectively implement tasks on curbing inflation, promoting sustainable and fast growth…

In addition, the province will attach special importance to realizing key tasks of the local plan on restructuring of economy for the 2016-2020 period, promoting resources to create a new motivation for development. The province will also continue paying attention to economic development in association with comprehensive development for socio-cultural fields, ensuring social welfare, improving the spiritual and material lives of the local people; instruct relevant agencies to set up the State budget estimate for 2020 as stipulated…

Such these apart, the province will conduct functional agencies to analyze economic forecast, especially factors that will change production and business activities for 2020…

Reported by Phuong Le-Translated by K.T