Resolution 11 has showed its results in controlling inflation. In Binh Duong alone, despite difficulties, the locality has still reached a fair growth. These are main characters of economic picture in the first half of 2011.

Inflation under control

With drastic measures from Government’s Resolution 11, consumer Price Index (CPI) has decreased sharply since May. In this month, CPI will keep declining about 1%.

 However, this month’s CPI surged about 13% from the last year’s December. The Government had to adjust 2011’s CPI increase level up to 15%. According to Ayumi Konishi, director of ADB in Vietnam, inflation in Vietnam will be decreased thanks to success of Resolution 11.

Binh Duong’s bright features

Amid difficulties of economy, Binh Duong province’s socio-economic growth is considered as one of bright characters of the whole country.

Reportedly, the provincial socio-economic situation in the first half of 2011 showed positive signals. And, the Government’s measures of inflation control, macro-economic stability and social welfare have upheld results.

The provincial administration has set out plans and concrete measures to ensure economic growth in conformity with local situation. Thenceforth, the locality has reached a fair increase (17.5%) in industrial production, 19.5% in export turnover and collected VND11tril for the State budget…

Despite of cutting of public investment and currency tightening, the provincial businesses have still maintained their growth thanks to thrift practice, market expansion…

Le Manh Hoach, vice general director of Thai Binh Shoe Group, said the provincial good growth is thanks to local gathering of export businesses as well as good recovery of the global economy.

According to the latest forecast of Global Economic Prospects, from 2011-2013 Vietnam’s average GDP growth can reach 6.7%. However, the Government only targets to reach a 6% growth to ensure macro-economy and inflation control.

As for Binh Duong province, the provincial People’s Committee has set out 16 crucial tasks for the final half of 2011 and asked all level agencies to implement local and governmental resolutions on socio-economic development drastically.

According to the provincial People’s Committee chairman Le Thanh Cung, the encouraging results in the first half of 2011 will be a premise for completion of proposed plans for the whole 2011.

Reported by T.Son – Translated by A.C