Socio-economic condition in 2015 to develop stably

Morning Nov 17^th, Tran Van Nam, Secretary of provincial Party Committee, Chairman of provincial People’s Committee (PPC), chaired the 93^rd PPC session to approve the State budget settlement in 2014; reports on revenues and expenditures of the State Budget in 2015; budgeting and budget allocation in 2016; draft report on the implementation of the 2015 investment plan and the 2016 investment plan.

In 2015, FDI attraction of Binh Duong province continued to make impressive results as exceeding 70% year-target. Image: The production line of Pro Active Global Vietnam Company in Dai Dang industrial park, TDM City

The meeting also reviewed implementation results of Resolution No. 32/2010/NQ-HDND7 dated Dec 10^th 2010 of Provincial People’s Council on principles, criteria and norms for allocation of development investment capital in the 2011-2016 period; socio-economic development plan in 2016; draft report on socio-economic, defense – security condition in 2015 and orientations and tasks in 2016 to submit to provincial People’s Council session at the end of 2015. Attendants of the meeting comprised leaders of provincial People’s Council, Deputy Chairmen of PPC, heads of departments, sectors, districts, towns and city in the province...

FDI attraction exceed 70% target

According to PPC, in 2015, provincial socio-economic condition continued to obtain comprehensive results; people’s living standard was improved, political security was secured. Socio-economic development objectives and tasks were fulfilled; 22 out of 25 indicators set by the Resolution exceeded targets, the remaining targets gained higher results than in 2014. Provincial gross domestic product (GDP) increased 13.2%; Per capita GDP reached VND73.1 million; economic structure: industry - service - agriculture proportionated to 60% - 37.3% - 2.7%.

In 2015, the province maintained good economic growth, restructuring in the right direction. Capital and market constraints were removed, enabling the industry to recover markedly. As a result, industrial production value was estimated at VND217,211 billion, increasing 15.8% year-on-year (yoy); total investment of social development was estimated at VND70,114 billion, increasing 17.6% yoy. Regarding investment attraction, FDI reached $1.7 billion, exceeding 70% target and increasing 11.1% yoy. The province has now 2,558 FDI projects with total registered capital of $22.1 billion; attracted totally VND18,242 billion of domestic investment, increasing 84% yoy. Until now, the province has 20,422 domestic enterprises with total registered capital of VND148,911 billion.

In 2015, industrial parks in the province leased lands, facilities with with a total area of ​​307 ha; attracted FDI capital of $1,566 billion. Total enterprise turnovers in industrial parks reached $16.7 billion

In 2015, Binh Duong maintained a trade surplus of $3.7 billion. FDI sector maintained high growth rates and contributed mainly to provincial export turnover. Traditional export markets, such as: the US, EU, Japan, ASEAN... were secured and expanded; export orders increased averagely 10 - 15% yoy. Accordingly, export value was estimated at $20.976 billion, increasing17.9% yoy; import turnover was estimated at $17.273 billion.

Besides, the agricultural structure was shifted properly, the proportion of livestock industry continued to rise and contributed largely to the overall growth of the industry...

Budget revenue exceeds estimates

Regarding total State budget finalization in 2014, Nguyen Van Hao, Director of Department of Finance, said PPC had many measures to manage budget, organize resources to ensure cost estimates in order to preserve socio-economic development, defense – security. Accordingly, total State budget revenue in 2014 was VND31,739 billion, reaching 101% estimate set by Prime Minister and reaching 101% Provincial People’s Council’s estimate, increasing 7% compared to finalization of 2013. Total budget expenditures was VND13,853 billion, achieving 149% Prime Minister’s estimate and 120% Provincial People’s Council’s estimate, increasing 33% compared to finalization of 2013. Budget surplus was VND3,440 billion.

Total state budget revenue from socio-economic in 2015 was VND36,000 billion, reaching 110% Prime Minister’s estimate and 106% Provincial People’s Council’s estimate, increasing 13% compared to 2014. Regarding estimates of State budget revenue and expenditure in 2016, total revenue from socio-economic was VND39,000 billion, increasing 8% compared to 2015 and increasing 3% compared to Prime Minister’s estimate. Total expenditure was VND14,500 billion, increasing 12% compared o 2015 and increasing 16% compared to Prime Minister’s estimate.

Concluding at the session, Tran Van Nam, Secretary of provincial Party Committee, Chairman of provincial People’s Committee, agreed the drafts. Regarding the draft on socio-economic, defense – security situation in 2015, Mr. Nam emphasized, targets were fulfilled and exceeded, social security was also heightened. However, there were still many shortcomings in administrative procedure reform, the number of traffic accidents was high, social security issues were not settled drastically… He suggested localities to assess thoroughly and accurately the people’s life. Issues of food safety, environmental pollution needed to be drastically handled…

Regarding State budget revenue and expenditure, Mr. Nam noted practicing thrift, especially on big holidays. Budget revenue in 2015 gained high results but did not guarantee sustainability. Mr. Nam informed, in the coming time, PPC will manage strictly development investment capital. He asked agencies and sectors to review plans and capabilities in all fields…

Reported by P.Le – Translated by Ngoc Huynh