Economic restructuring should be channelled more specifically to realise the socio-economic targets set by the National Assembly, not only for 2018 but also for the following years, said Minister of Planning and Investment Nguyen Chi Dung.
At a teleconference on
September 24 with localities nationwide to evaluate the socio-economic
situation in 2018 and set up plans for 2019 (Photo: VNA)
At a teleconference on
September 24 with localities nationwide to evaluate the socio-economic
situation in 2018 and set up plans for 2019, Dung underlined that cities and
provinces should strictly implement the Government’s Resolution No.01/NQ-CP
2018 on key missions and solutions to realise the socio-economic plan and state
budget estimate in 2018.
He also laid stress on the organisation of the conference, which he described
as a breakthrough for the sector in carrying out socio-economic development
solutions in a prompt, sustainable, and effective manner.
According to Tran Quoc Phuong, Director of the National Economic Issues
Department under the Ministry of Planning and Investment, thanks to concerted
efforts made by the Government, ministries, sectors, localities and businesses
as well as support from international organisations and local people, Vietnam has
recorded positive socio-economic development in 2018.
A stable macro-economy is a remarkable achievement and was the driving force
behind the economic restructuring, as well as motivated other sectors, he said,
adding that the GDP was estimated at 6.7 percent and inflation was under
control with the consumer price index (CPI) being well maintained below 4
percent.
The financial market experienced stable progress as credit growth was curbed at
around 17 percent, meeting sufficient capital for the production and business
sector, he said.
Improvements were seen in other important indexes, for example the debt rate
fell from the 63.7 percent at the end of 2016 to around 61.4 percent this year.
State budget collection was estimated at more than 1.35 quadrillion VND (57.8
billion USD), up 3 percent from the initial forecast and 5 percent from 2017.
However, State budget overspending was reckoned at 3.67 percent, higher than
the level assigned by the National Assembly.
The teleconference also shed some light on the disbursement of public
investment and ODA, FDI attraction, the renewal of the growth model, amendments
to the Law on Public Investment, and the building of a revised planning
law.
Source: VNA
In the first quarter of 2024, the credit institutions in the province have actively deployed the legal documents of the State and the State Bank relating to currency, credit and interest rates. At the same time, they have promoted the capital mobilization, focusing on the solutions to expand the credit investment along with strengthening the credit quality management, lending to priority programs to promptly meet the capital needs for export - business and consumer demand during Tet in 2024.
Outside the key economic region of Hoa Binh, yet Lac Son district has utilised its potential and strengths regarding labour, land, and transportation connectivity to attract investment to the locality, contributing to promoting socio-economic development.
In a move to expedite the execution and disbursement of the 2024 capital plan for ODA projects, aiming for a disbursement rate of over 90% of the allocated funding, the Hoa Binh People's Committee issued Document No. 483/UBND-KTN on April 3, 2024, regarding such efforts.
Nguyen Van Thap from Kim Duc hamlet, Vinh Tien commune, Kim Boi district, has built the brand of Hoa Qua Son for local fruits. His efforts have brought about income for his family and generated job opportunities for locals, helping hundreds of households escape from poverty.
The Hoa Binh administration was entrusted by the Prime Minister with a budget of 3.43 trillion VND (142.91 million USD) for investment in 2024. The provincial People's Council approved nearly 3.76 trillion VND, which has been meticulously allocated to projects, achieving 100% of the assigned capital plan.
Hoa Binh province has mobilised all resources to propel local agricultural products to make inroads into foreign markets, towards lifting the export turnover of key agricultural products to 137.8 million USD by 2030, accounting for 3.4% of the locality’s total export value of goods.
The locality aims to export farm produce to the US, the European Union, the UK, China, Japan, and the Republic of Korea.
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