(HBO) – Under the leadership of the provincial Party Committee, Hoa Binh province has obtained several significant outcomes during the implementation of the Party Central Committee’s Resolution No. 05-NQ/TW, which specified some major policies aimed at continuing to reform the growth model and improve growth quality, labour productivity, and competitiveness of the economy.


Hoa Binh province has mobilised resources for developing infrastructure and promoting growth. Photo: Hoa Binh 3 Bridge has helped fuel trade and urban development in Hoa Binh city.

The province recorded average annual growth of 6.31 percent between 2016 and 2020, the size of the local economy was expanded from 36.85 trillion VND in 2016 to 51.96 trillion VND (nearly 2.3 billion USD at the current exchange rate) in 2020, and per capita gross regional domestic product (GRDP) reached 60.3 million VND last year. The local economy has seen expanding industry and service sectors and had its dependence on natural resources gradually reduced.

During the period, agriculture grew by some 3.98 percent, a pace almost doubling the national average, making Hoa Binh one of the best performers in this regard in the northern mountainous region. Outstanding outcomes have been achieved in building new-style countryside, with 55 of the 129 communes and three of the 10 district-level localities recognised as new-style rural areas, and 12 communes meeting advanced standards.

The growth quality in many aspects has been promoted, with science - technology making more contributions, labour productivity rising 10.38 percent annually on average, and investment capital used more effectively, and the total factor productivity making up about 27.02 percent of local growth.

Meanwhile, the province’s intellectual property development programme has helped boost the registration for industrial and intellectual property rights over many products. It has assisted businesses and people to commercialise and enhance the competitiveness of local specialties.

Hoa Binh has also effectively managed and used resources for infrastructure building and socio-economic development. A number of structures have been put into operation, helping attract investment to eco-tourism, urban development, industry, and trade. Many projects have proved useful for facilitating production and improving people’s living standards.

However, the Standing Board of the provincial Party Committee admitted that apart from achievements, there remain certain shortcomings and weaknesses in the economic restructuring and growth model reform process.

To maintain achievements, address shortcomings, and continue implementing the resolutions of the Party Central Committee and the provincial Party organisation, the Standing Board of the provincial Party Committee has ordered the building of a resolution on economic restructuring and growth model reform so that the local economy will be on par with the national average.

Ngo Van Tuan, member of the Party Central Committee and Secretary of the provincial Party Committee, stressed that the Standing Board’s resolution must aim at successfully implementing the resolution of the 17th provincial Party Congress and match the local reality. It needs to clarify resources, assign detailed tasks, and orient the 2021 - 2025 economic development towards turning agriculture into the foundation, industry into the breakthrough, and tourism into the spearhead sector./.

 


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