(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
local workers.
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
challenge.
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
trillion VND.
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.
Maximizing local potential and advantages, Yen Tri commune in Yen Thuy district is actively promoting the cultivation of medicinal herbs and turning medicinal herbs into One Commune - One Product (OCOP) products.
Situated at the gateway to the Northwest, Hoa Binh province has a population of over 900,000, including about 540,000 of working age. It is home to 6,000 businesses and production facilities, providing employment for over 100,000 workers. The remaining workforce is engaged in informal jobs, works in enterprises outside the province, or contributes to agro-forestry-fisheries. Additionally, around 3,000 workers are employed abroad.
The Hoa Binh provincial People's Committee has issued Decision No. 2767/QD-UBND announcing the rankings of departments, agencies, districts and Hoa Binh city in the Public Administration Reform Index (PAR) and the Satisfaction Index of Public Administration Services (SIPAS) in 2024.
The cultivation of Dam Xanh fish (Bangana lemassoni), a unique fish species, has seen remarkable growth in Mai Chau district, thanks to its high economic value and effectiveness. Initially concentrated in Van Mai commune, farming has now extended to four other communes, namely Mai Hich, Mai Ha, Chieng Chau, and Son Thuy. These areas benefit from pristine underground water flowing from mountain crevices, providing ideal conditions for raising this specialty fish.
In 2024, the total state budget revenue of Hoa Binh Province is estimated at approximately VND 6,930 billion, achieving 183% of the Government’s target, 126% of the target assigned by the Provincial People's Council, and 145% compared to the same period last year.
In 2024, Hoa Binh province has shown signs of improvement in attracting investment and developing enterprises.
