Optimistic signals
Reportedly, in the first 3 months of this year, industrial production value remains stable growth with nearly VND30,000bil, a 9.1% increase from the same period last year. The highlighted character of economic picture in the first months of this year lies in growth in import and export.
Key export areas such as timber, garment, footwear, rubber reach a high growth compared with the same period last year. Export has been maintained stably with US$2,828bil, a 15.7% increase whilst import has reached $2.391bil, a 15.4% rise. The total retail and service have reached VND19,325bil, an 18.3% increase.
Thanks to growth in production and export, local budget collection and expenditure have reached positive signals. The total State budget collection won about VND6tril, reaching 21.1% of the Finance Ministry’s estimate and 20.7% of provincial People’s Council’s estimate. The total State budget expenditure won about VND3,5tril, reaching 39.8% of the Finance Ministry’s estimate and 35% of provincial People’s Council’s estimate.
In addition, credit area has reached VND79,500bil in total mobilized capital, a nearly 8.5% increase from early this year and a 27.5% increase from the same period last year.
One more optimistic signal lies in FDI attraction. Reportedly, as of the end of the 1st quarter of this year, Binh Duong lured additional nearly $700mil in FDI capital with 39 newly registered projects and 45 added capital projects. Until now, the entire province has attracted 2,145 FDI projects, capitalized $17.930bil.
Moreover, domestic investment attraction has reached 325 newly registered projects, 94 added capital ones with the total capital of over VND2,9tril.
Shortcomings remain
The provincial People’s Committee chairman Le Thanh Cung said that local businesses’ production and business remain shortcomings. Therefore, it is necessary to have a concrete and accurate assessment to set out measures for them.
According to the local department of Planning and Investment director Mai Hung Dung, in the first quarter there are 60 businesses registering to dissolve, 35 ones suspending their production and 50 ones running away, etc. as such, there are 300 businesses newly established but up to 145 others are stopped operation.
Moreover, the local Finance department director Nguyen Van Hao also warned difficulties of the State budget collection. Hao added that as of the end of the 1st quarter, the total state budget collection reached nearly 21%, lower than from the same period last year.
In addition, lending interest rate and bad debt remain high, etc. Therefore, it is necessary to set out measures to ensure local socio-economic development.
Reported by T.Son – Translated by A.C
