The provincial Economics and Budget Committee just held a meeting to assess results of implementing the provincial People’s Council’s Resolution on socio-economic development in the first half of this year and set out ey measures for the remaining months of 2014 in a bid to submit to the upcoming 12th session of the provincial People’s Council.

  At a production line of Rohto Vietnam Co.Ltd in Vietnam-Singapore 1 IP.

 

Economy continues growth

 

Report on local socio-economic situation in the first half of this year showed that industrial production continued to recover, especially non-state economic sector reached a positive change with a growth of 14.2% in industrial production value. The number of newly-established and capital-added enterprises increased highly. Foreign investment attraction reached over US$1bil, winning 100% of yearly plan, thanks to improvement of investment and business environment.

 

In addition, the provincial People’s Committee continues to implement preferential policies for projects located at industrial parks. Good results of production and business contribute to ensure budget collection’s progress. Disbursement in basic construction investment capital won positive results, thanks to well management, inspection of local administration.

 

The State bank’s Binh Duong branch vice director Nguyen Phu Cuong quoted detailed figures of credit growth. He said “Credit growth in the first half of this year reached 7.12%, higher than the previous year. This efficiency affirms positive trend of economy in 2014”.

 

Moreover, the provincial Committee for Economics and Budget highly appreciated the provincial People’s Committee and departments and agencies’ efforts for their motivation and synchronous implementation of supportive measures for enterprises and laborers, contributing to excel the local goals of socio-economy in the first half of this year.

 

Upholding internal force and strengthening external force

 

However, during the progress of assessment, the provincial Committee for Economics and Budget referred to some shortcomings. Accordingly, deputy Pham Danh, director of the provincial department of Environment and Natural Resources noted that economic structure must ensure balance and stability to well uphold internal force. The local administration has set up the supportive fund for small and medium enterprises but this fund has yet to promote its efficiency during the past 10 years. Therefore, it is necessary to develop this fund for the sake of helping domestic enterprises uphold their advantages and compete with foreign companies. “In reality, attraction of external force for developing economy is very important but we should not too depend on it”, Danh added.   

 

Meanwhile, deputy Nguyen Thanh Nghia suggested “Based on results of socio-economic development, it is necessary to explain, assess in details issues to set out plans in conformity with situations”.

 

Deeply explaining result of foreign direct investment, the committee said that “Result of FDI attraction completed plans for the whole of the year. However, the total capital of new projects was at US$337mil, equaling 57% year-on-year, accounting for one third of the total gained-capital. In addition, average capital of one project was at US$4.3mil, equaling to half of average capital of an attracted-project in the first half of the past year. The figure shows that investment attraction of projects remains difficult, requiring a concrete explanation and assessment for the sake of setting out solutions in conformity with foreign investment attraction in the coming time.

 

One of crucial and long-term tasks lies in planning and management, deputy Nguyen Tam Duong, vice head of the Committee stressed. Planning is a strategic orientation for development but many plannings have yet to be launched well.

 

The provincial People’s Council vice chairman Tran Thi Kim Van said that agricultural sector should assess and set out good advices for farmers. Accordingly, criteria of new rural building should be re-assessed and re-explained. Criteria on income in new rural communes are based mainly on agriculture, mainly rubber tree. Therefore, agricultural sector must set out reports and good advices for farmers.

 

Though result of disbursement of basic construction capital reached a fair signal, progress of implementing some key works remained slow, especially works relating to socio-culture and water supply.  

 

Reported by D.Chi – Translated by A.C