Local socio-economic growth continues positive momentum

On the afternoon of August 1, provincial People's Committee held its regular meeting to review the local socio-economic situation in July, the first seven months of 2024 and implement orientations, tasks and solutions for August 2024. Presiding over the meeting, Vo Van Minh, Vice Secretary of provincial Party Committee, Chairman of provincial People's Committee urged departments, sectors and localities to strive harder to achieve the socio-economic development goals and plans set for 2024. This includes continuing improving administrative procedures, accelerating the disbursement of public investment, especially for inter-regional projects and key works.

Local industrial production increases by over 10%

According to the general assessment of provincial People's Committee, the province's socio-economic situation in July continued developing stably, with increase in industrial production, commerce-services, exports and imports compared to the previous month and the same period last year. Provincial People's Committee continued focusing on solutions to remove difficulties in production and business activities of enterprises while focusing on directing the acceleration of key projects and the disbursement of public investment funds to drive stable economic development in the remaining months of 2024.

Vo Van Minh, Vice Secretary of provincial Party Committee, Chairman of provincial People's Committee speaks at the meeting

There were many positive changes in the local economic field. The local Industrial Production Index (IIP) in July 2024 increased by 10.3% compared to the same period in 2023. The figure over the past 7 months grew by 5.74% compared to the same period. Export turnover was estimated at more than US$2.75 billion. The seven-month figure was US$ 18.86 billion, up 8.6% over the same period last year. Import value was estimated at over US$ 2 billion. Additionally, the province’s commerce-services sector also showed positive results, with the market for goods and services remaining stable, the Consumer Price Index (CPI) being well controlled, and total retail sales revenue of goods and service estimated at more than VND 28.84 trillion, up 11.7% compared to the same period last year. The seven-month figure was more than VND 194.47 trillion, a 12.5% year-over-year increase. In July 2024, the province attracted more than VND15.19 trillion in registered business capital, including 1,461 newly registered domestic enterprises with total capital of more than VND 8.67 trillion. The seven-month figure was VND 47.51 trillion in registered business capital, reaching 86.4% of the same period last year. Currently, the whole province has 70,500 enterprises with total capital of VND 774 trillion. Foreign direct investment (FDI) in the province continued gaining trust from many enterprises and investors. In July, the province attracted additional US$ 70.2 million in FDI capital. The seven-month figure was US$895 million. To date, the province has lured 4,342 FDI projects capitalized at US$ 40.9 billion. Provincial People's Committee has also approved investment policies for 15 projects with about VND59.58 trillion which is expected to contribute to the province's growth in the coming time.

Under the 2024 public investment plan, the province’s total disbursed value as of July 31 was more than VND 5.02trillion, reaching 22.8% of the plan assigned by provincial People's Council and 32.9% of the plan assigned by the Prime Minister, positively contributing to the local stable economic development. In a bid to further support enterprises in developing production and business, province-based credit institutions continued implementing credit support packages for enterprises with an estimated total outstanding loan of VND 340 trillion and mobilized capital estimated at VND 314 trillion.

The work of social welfare and labor continued receiving attention and effectively implementing policies to support relevant groups. Espencially, departments and sectors closely monitored the operations of businesses and the employment of workers. As a result, 681 businesses needed 7,397 workers. The province provided employment consultancy for 14,144 people and 8,022 people got jobs.

Further removing obstacles in business, production

Speaking at the meeting, Vo Van Minh, Vice Secretary of provincial Party Committee, Chairman of provincial People's Committee spoke highly of the efforts of departments, sectors and localities in implementing socio-economic development tasks, ensuring national defense and security. Provincial People's Committee focused on directing departments, sectors and localities to quickly complete provincial planning for submission to the Prime Minister for approval, effectively implementing solutions to support enterprises and people in developing production and business.

Delegates discuss, contribute opinions at the meeting

Simultaneously, departments and sectors in the province addressed obstacles in land valuation, compensation, site clearance and accelerated public investment disbursement; monitored, urged the completion of investment procedures and construction of key projects, ensuring social welfare. As a result, the local socio-economic situation in the first seven months of 2024 continued developing stably, with increase in industrial production, commerce-services, exports and imports, achieving good results in State budget revenue, saving expenditure; maintaining political security, social order, safety and controlling traffic accidents…

To successfully achieve the local socio-economic development goals, national defense, and security tasks for 2024, Mr. Minh urged all-level authorities, sectors of the province to make higher efforts, determination in leadership and administration, proactive and tight coordination, upholding achieved results, seizing all resources and opportunities, focusing on supporting enterprises; implementing preferential loan programs for social housing and production-business development.

Accelerating the implementation and disbursement of public investment in 2024, provincial People's Committee Chairman requested departments, sectors and localities to regularly check the progress of investment projects in key works, namely National Highway 13, belt road 3 in Ho Chi Minh city…, address land valuation issues for compensation and site clearance to implement projects. Additionally, it is necessary to effectively implement social welfare policies, focusing on activities connecting and recruiting laborers to support enterprises in effectively deploying production and business.

Reported by Minh Duy-Translated by Kim Tin