Socio-economic development continues to flourish

Update: 31-08-2022 | 14:08:02

In the morning of August 30, Mr. Vo Van Minh, Deputy Secretary of the provincial Party Committee, Chairman of the provincial People's Committee chaired the regular meeting of the provincial People's Committee in August 2022. The report at the meeting said that the province's socio-economic development since the beginning of the year has continued to grow steadily; industrial production index, export turnover, foreign investment attraction, business registration capital in the country increased over the same period. As the situation of the COVID-19 epidemic is well controlled, political security, social order and safety are maintained.

Mr. Vo Van Minh, Deputy Secretary of the provincial Party Committee, Chairman of the provincial People's Committee deliver a speech to direct the meeting

Many growth indicators quite high

According to the report at the meeting, in August 2022, the industrial production index increased by 8.4% over the same period as the total retail sales of goods and services was estimated at VND 23,018 billion. Import-export activities prospered, and export turnover was estimated at USD 2.9 billion, increasing by 1.5% compared to July and 53.5% over the same period. Accumulating in 8 months, the province's export turnover reached more than USD 24 billion, increasing by 7.8% over the same period. Regarding foreign investment, in August, the province attracted an additional USD 35 million; accumulated until the end of August 2022, FDI flow had been more than USD 2.56 billion, increasing by 72% over the same period.

In addition to planning and construction, the province has selected a consultant to make provincial planning, and continue to adjust the district-level urban master plan, review and study urban development areas to embellish the urban areas of spontaneous housing and anti-flood treatment in the areas. The province has also coordinated in the preparation of investment in key projects of Vanh Dai 3, Vanh Dai 4, Ho Chi Minh City - Thu Dau Mot - Chon Thanh expressway, improving the air space of Binh Trieu Bridge 1, commence the upgrading and expansion of National Highway 13; at the same time, strengthen control of vehicle loads, urge the implementation of non-stop electronic toll collection.

In the remaining fields, with efforts to overcome common difficulties, positive achievements have been achieved, especially social security work to help 465,000 workers by a total budget of more than VND 238 billion, created 3,705 jobs, contributing to stable jobs offered to 26,356 people. In the field of education and training, the province is expected to have more than 527,000 students in the new school year at all levels, an increase of nearly 30,000 students compared to the previous school year, which is still the tremendous pressure on the sector. In the health sector, the campaign of 4th doses of COVID-19 vaccines was strongly implemented, but according to reports, the rate of the 4th injections is still low. The health sector also proposed the province to remove obstacles in purchasing drugs, medical supplies and equipment to ensure the medical examination and treatment needs of the people.

Drawbacks removed to promote development

Speaking at the meeting, Mr. Vo Van Minh, said that in August and the first 8 months of the year, the Provincial People's Committee focused on directing and supporting enterprises to restore production and business development, organize contact industry associations, investment enterprises in order to grasp the situation, remove difficulties and promote development. Focus on solving problems in the process of formulating land unit prices for compensation, support and resettlement of works and projects, speeding up of site clearance and disbursement of public investment capital, and preparing plans, investment procedures for key roads, continual promotion of administrative procedure reforms and digital transformation have been in the spotlight.

“The province's socio-economic situation continues to develop stably as the industrial production index, export turnover, foreign investment attraction, and domestic business registration capital increased sharply over the same period; budget revenues and expenditures are guaranteed according to the estimation. The COVID-19 epidemic is under control; security, politics, social order and safety are maintained," Mr. Vo Van Minh said. According to the Chairman of the provincial People's Committee, besides the advantages, certain shortcomings still remain. Due to the influence of the world economic situation, inflation and commodity prices have also increased, leading to negative impacts on the prices of raw materials for production, and affecting export and import activities of enterprises.

Specifically, although export turnover still increased over the same period, some key export industries of the province such as wood, machinery and equipment began to face difficulties due to reduced orders. Along with that, the progress of provincial planning is still slow, disbursement of public investment capital is low compared to the plan. In the field of education, difficulties continue with the increase of students at all levels, putting pressure on the education and training sector. In addition, infectious disease epidemics are complicated; The increase in criminal law, the increase in traffic accidents in all three criteria also poses many problems to focus on solving solutions.

Regarding the task in the coming time, Mr. Vo Van Minh noted that relevant departments, agencies and sectors should continue to closely monitor the market, commodity prices, and ensure the balance between supply and demand of essential commodities, production and consumption, actively prevent and combat natural disasters, floods and storms, organize contact activities with business associations and industry associations to solve problems for businesses and employees, especially enterprises of woodwork, textiles, and thick leather, and promote and search for new export markets such as India and South America.

At the same time, it is necessary to ensure the progress of the provincial planning for 2021-2030, with a vision to 2050, to make a separate plan to integrate into the general planning of the province, adjust the district general planning, develop the land allocation plan to create new development space and plan the land fund for resettlement, remove obstacles in land allocation for the establishment of industrial parks according to regulations and in the appraisal of estimates of procurement packages of agencies and units. In particular, effective ways are promoted continually in mobilizing resources for investment in transport infrastructure projects of Vanh Dai 3, the remaining sections of Vanh Dai 4 route, Ho Chi Minh City - Thu Dau Mot - Chon Thanh, An Tay port etc. At the same time, the backlogs in urban areas and residential areas that are causing frustration among the people should be resolved to contribute to ensuring urban security and order.

As of August 15, the total disbursement of public investment capital was more than VND 3,022 billion, gaining 33.9% of the 2022 plan assigned by the provincial People's Council. The province has attracted VND 17,310 billion of domestic investment to accumulate in 8 months of VND 62,359 billion. Regarding foreign investment, the province attracted an additional USD 35 million, accumulated by August 2022, more than USD 2.56 billion has been attracted in FDI, increasing by 72% over the same period. New budget revenue was VND 4,480 billion, setting to VND 44,700 billion, increasing by 99% over the same period or 75% of the provincial People's Council estimation. The finance and banking sector mobilized in August was estimated at VND 282,000 billion, increasing by 1.4% from the previous month and by 5.5% compared to the beginning of the year. Total outstanding loans were estimated at the end of the month to reach VND 280 trillion.

According to the Department of Planning and Investment, the total planned capital in 2022 that will not be fully disbursed is expected to be VND 777.8 billion. The part of capital resource that is not fully disbursed will be canceled according to the provisions of the Budget Law, affecting the capital source of the medium-term public investment plan for 2021-2025. On the other hand, projects that are stuck behind schedule and fail use up all their capital resources in 2022 still need to allocate capital in 2023 to continue the project implementation. Therefore, to ensure the highest public investment capital for projects, the Department of Planning and Investment advises to transfer more than VND 581 billion of the 2022 capital plan that is not fully disbursed to national site clearance of Highway 13 sections from Vinh Phu Welcome Gate to Ong Bo bridge intersection to 2023. Using the capital in 2023 is expected to be arranged for the project to arrange for other projects with very large capital needs at estimatedly about VND 1 trillion to meet the conditions specified in Article 48 of Decree 40/2020/ND-CP, so the capital disbursing plan can be extended to next year.

Reported Minh Duy – Translated by Vi Bao

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Socio-economic development continues to flourish

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