(HBO) - It is forecast that by 2025, there will be three criteria that are difficult to achieve in line with the Resolution of the 17th provincial Party Congress for the 2020-2025 tenure, namely economic growth, State budget collection and gross regional domestic product per capita. Thus, relevant agencies advise the provincial administration to focus on solutions, aiming to speed up the disbursement of investment capital, support key projects, and create a driving force to obtain 9% growth rate for the remaining time of the tenure.
Photo:Ho Guom Garment Company, Phong Phu
Commune (Tan Lac district) operates effectively, creating jobs for hundreds of
Given the difficult context, the gross regional domestic product growth rate
didn’t reach the set target. It stood at 2.86% in 2021, lower than the growth
rate of 3.7% in 2020 and it reached 9.47% last year.
The province's GRDP growth expanded by only 0.73% in the first six months of
2023 and it is expected to be 3.87% for the whole year. The average growth rate
for the three years reaches 5.4% on average.
To achieve the GRDP growth target of 9% per year or more, it is necessary to
have an average growth rate of nearly 15% in 2024 and 2025.
The province’s State budget revenue was not high, reaching 5.6 trillion VND and
5.2 trillion VND in 2021 and 2022, respectively. It stood at 1.8 trillion VND
in the first half of 2023, equivalent to 36% of the year’s estimate and 73%
compared to the same period last year. Total budget revenue for the half tenure
reached 12.7 trillion VND, thus, the target of 10 trillion VND by 2025 is a big
As of June 30, the province disbursed a total of 7.8 trillion VND of public
investment, meeting 40.58% of the year’s target while the public investment
plan assigned for the 2021-2023 period is 19.2 trillion VND.
Regarding investment attraction and business development, from 2021 to June
2023, the province decided to approve investment for 138 projects with a total
registered capital of over 85 trillion VND. They include a number of large
projects, notably the Xuan Thien Cement Factory project which churns out 10
million tonnes of products per year and a total investment capital of 29.8
Hoa Binh decided to terminate the operations of 54 projects, creating
opportunities for other investors to research and survey. By June of this year,
there were 734 investment projects in the locality with a total registered
capital of nearly 202 trillion VND.
Over the past two years, there were 1,152 newly-registered enterprises with a
total registered capital of nearly 28.4 trillion VND and 302 businesses resumed
operation. As of June 2023, there were 4,468 businesses with registered capital
of 73.5 trillion VND.
At a conference that was held to review mid-term operation of the provincial
Party Organisation, the provincial Party Committee proposed 14 groups of
solutions, which detailed special tasks for economic development, attracting
investment and developing businesses.
According to Nguyen Van Phuc, Deputy Director of the provincial Department of
Planning and Investment, in addition to completing the planning with a vision
to 2050 and submitting it to competent authorities for approval, it is
necessary to focus on drastic solutions to accelerate public investment
disbursement and improve business environment.
The province has so far disbursed 7.8 trillion VND, so from now until the end
of 2025, it will have to disburse 22.8 trillion VND, equal to 74% of the
medium-term public investment capital plan for 2021 - 2025.
To this end, it is essential for the province to focus on directing specialised
agencies to speed up and improve the quality of project preparation and
appraisal, he said.
Attention should be paid to solving problems in site clearance and
strengthening inspection as well as speeding up the disbursement of public
investment capital and flexibly adjusting capital plans between projects.
It is a must to select investors who have the capacity to implement projects
with spillover effects, greatly contributing to promoting economic growth and
state budget collection in the locality, Phuc said, adding that projects that
are behind schedule should be revoked.
Since late October, households, farms, and cooperatives in Cao Phong district, Hoa Binh province, have been rushing to harvest the 2023 - 2024 orange crop.
The One Commune One Product (OCOP) programme has helped encourage active labour among farmers, increasing production and creating high-quality products. In response to the programme, farmers in Phu Cuong commune, Tan Lac district, are working on their local sweet potato branding and forming a concentrated production area for better income and economic development.
Measures have been taken in Hung Thi commune, Lac Thuy district to eliminate hunger, reduce poverty and increase the income of residents. Currently, the commune has an average income of 51.1 million VND ($2,120 USD) per capita per year and its poverty rate is just 18%.
A delegation from Sao Do (Red Star) Entrepreneurs’ Club led by its President Nguyen Canh Hong has visited Hoa Binh to explore investment opportunities in the province.
Over the years, businesses located in local industrial parks (IP) have operated stably, completing and exceeding their plan and enjoying growth in revenue, export revenue and State budget payment, while contributing to creating jobs for local labourers.
In the cause of sustainable poverty reduction, the State’s supporting policies are considered a powerful lever to help poor and near-poor households escape poverty in Hoa Binh province. Over the past years, the Party committee and authorities of Tan My commune (Lac Son district) have always paid attention to and focused on implementing sustainable poverty reduction. Their efforts have produced positive results.