(HBO) - The resolution of the 17th Provincial Party Congress for the 2020-2025 tenure has set an average growth target of 9 percent over five years. By 2025, the per capita gross regional domestic product (GRDP) will reach about 100 million VND (4,350 USD) and the State budget revenue, 10 trillion VND.
Photo:Quynh Lam commercial
housing project in Hoa Binh city. Raising the attractiveness and early
implementing investment projects are identified as one of the solutions to
promote the province's sustainable economic growth.
The province's economic growth model has developed mainly extensively and the
quality of growth, unsustainable in recent years. The total factor productivity
(TFP) reached only 25.77 percent in 2020. The number of newly-established
enterprises and cooperatives per year is still modest. The allocation of
investment is not adequate and the collection of state budget unstable.
The provincial People's Committee blamed the problems on the limited capacity
in renovating its growth model in association with economic restructuring,
saying that the investment environment is not attractive enough and the quality
of human resources has not yet met the development’s demands.
2022 is an important year that lays the foundation for implementing the goals
of the 5-year Socio-Economic Development Plan for 2021-2025. Thus, a growth
rate of 9 percent should be obtained this year, according to the provincial
People's Committee.
To achieve the goal, it is necessary to continue restructuring the economy,
renovating the growth model and improve productivity, and creating momentum for
rapid and sustainable development.
Ngo Van Tuan, Secretary of the Provincial Party Committee, said challenges lie
ahead as its gross regional domestic product grew 2.66 percent last year.
He said agencies are authorised to finalise plans aimed at
achieving an economic growth of 9 percent right at the beginning of this year,
adding that individuals have to bear the responsibilities in management
relating to projects that are at a standstill or the resettlement for residents
whose land are revoked during the land clearance process.
Attention will be paid to the disbursement of public investment
to ensure economic growth, he said. The focus will be on the implementation of
key projects as well as state budget collection.
Department, agencies and districts were asked to carry out a project on
restructuring the economy in association with renovating growth models. It is
anticipated that the province will reach the national average growth rate by
2025.
Bui Van Khanh, Chairman of the Provincial People's Committee, said that
investment is a must to achieve the growth targets, and that is why the
province will concentrate on creating breakthroughs in infrastructure, human
resources and investment attraction areas./.
In Lac Thuy district, communes have been succeeded in promoting their One Commune-One Product (OCOP) products while others are still struggling to position their typical farming products in market. Some communes in the district still fail to have their products met OCOP programme’s requirements, while others have seen their certifications expired.
The inspectorate agency of Hoa Binh province has issued Official Dispatch No. 1090/TTr-PCTN to provincial departments, agencies, localities, business associations, enterprises, and investors regarding measures to improve informal component indexes of the Provincial Competitiveness Index (PCI).
Hoa Binh is taking concrete steps to improve its investment environment, with a strong focus on supporting businesses, settling obstacles for strategic investors, and creating opportunities for robust development in the coming years.
Under the blazing early summer sun, the construction site of Nhuan Trach Industrial Park (IP) in Luong Son district is abuzz with activities from dawn to dusk, a testament to the determination of the investor to meet their construction targets on schedule.
