Local socio-economy in 1st quarter is in stability and development

Tran Van Nam, chairman of the provincial People’s Committee chaired the meeting.

On March 24, Tran Van Nam, chairman of the provincial People’s Committee chaired a meeting to ratify a draft report on socio-economy and national defense and security in the first quarter of 2015 and key tasks of the second quarter. Results showed that socio-economy in the first quarter reached high targets.

Reportedly, in the first quarter of this year the provincial People’s Committee directly steered relevant agencies to implement groups of measures to launch the Government’s Resolution No.01/NQ-CP, the provincial party committee’s Resolution on developing local socio-economy. As a result, the local administration won remarkable results with high achievements of fair growth of industrial production value, goods retails, service turnover, stable price, high increase on foreign investment attraction and export and more.  

Specifically, the total provincial product in the first quarter rose 9.3%; industrial production value reached VND49,484bil, an 11.2% increase; high increase on output of some items such as footware, chemicals, steel, electric equipment, furniture and garment products and more. In the first quarter, enterprises’ production and business continued to reach advantaged growth. Launching of measures of solving difficulties and spurring production and business promoted efficiency. Until now, 100% of enterprises resumed their operation after Tet holiday 2015. Most of enterprises have won orders till the end of second quarter of this year, some of them have signed contracts till the end of the third quarter.

Besides, trade and service field continued to reach a fair growth with the total goods retails and service turnover of VND28,984bil, a 21.4% increase compared with the same period last year. In the first quarter of this year, purchase power increased highly. In addition, the local administration instructed functional agencies to well implement plan on goods reserve to stabilize market on the Lunar New Year 2015. In the period, enterprises reaped about VND466bil in turnover, surpassing 11.5% of the set plan. Moreover, businesses held mobile goods selling trips across rural areas, industrial parks and compounds to serve better for laborers and people.

Meanwhile, targets of economy such as finance-credit reached a fair growth. Particularly, the total State budget collection reached VND9,500bil, up 19% while total mobilized capital won VND98,958bil, a 44.4% rise compared with the same period last year.

Export and invest attraction increase sharply

Notably, export turnover and foreign investment attraction in the first quarter reached the most highlighted results. Over the past 3 months, local export won US$4.22bil, a 15.6% increase from the same period last year. Staple items for export continued to reach stability and a fair growth. These item included footwear, garment and textile, furniture, electric products and so on. Binh Duong reached an export value of US$591mil in the first quarter.  

Pointing out advantages of export, the provincial administration said that in the first quarter the world economy reached a positive change with rapid increase on demand on goods consumption in the EU, US, Japan, ASEAN and more. This made increase the quantity of export orders. Furthermore, price of import materials reached stability.

Aside from export, investment attraction in the first quarter also made up new breakthroughs. Over the past 3 months, locality attracted VND3,835bil from domestic enterprises. This lifted the number of domestic companies in the province up to 18,001 with the total registered capital of VND136,506bil. Notably, the province absorbed more US$321mil in FDI capital, including 42 new projects, capitalizd US$197mil and 21 capital-added projects worth US$124mil.

Socio-culture is in stability

Apart from economic area, in the first quarter policy of social welfare was launched effectively. In this period, the entire province spent VND398bil for social welfare. Overall, enterprises adequately and timely implemented policies and allowances for laborers.

Quality of education and training was improved significantly with positive changes. Medical sector won good achievements of improving quality of healthcare. Activities of culture, sport were held constantly, meeting demand on entertainment for local residents. Meanwhile, political security and social order and safety was maintained and ensured.

Addressing the meeting, Tran Van Nam said that with the focused measures set out by the provincial administration, business of local enterprises and investment environment are in stability and growth. In order to reach efficiency of local socio-economic development, Nam asked local departments, sectors and localities to solve obstacles for enterprises, publicize and mobilize people to obey planning and plan on land using for the period of 2015-2020 and simultaneously pay more attention to environmental protection, administration reform and more.

Reported by T.Minh – Translated by A.C