Overcoming challenges, Bac Ninh's economy shines
17:36 22/07/2022
In the first 6 months of 2022, Bac Ninh's economy continues to grow at a high rate. Gross domestic product in the province increased by 14.7%, ranking the second in the country and the first in the Red River Delta. Industrial production index increased by 19.8%, retail sales of consumer goods and services increased by 36.4%, import and export turnover increased by 15% (accounting for 13.3% of total export turnover of Vietnam), state budget revenue reached 54.1% of the estimate... Flexible implementation of solutions suitable to local realities, Bac Ninh's economy overcame challenges and continued to shine.

Industrial production index increased by 19.8% in the first 6 months of 2022.

 Implementing "dual goals" under the direction of the Government, the operation is fast and timely. Directive documents on COVID-19 prevention and control are immediately sent to departments, districts, communes, villages, neighborhoods and more than 6000 community COVID teams; boldly deploying unprecedented solutions suitable to the actual situation. As a result, during the outbreak of the epidemic, Bac Ninh was able to protect human resources to maintain production in the direction of "3 together" and the option of "one road, two destinations", combine many other measures to keep production activities uninterrupted.

When the epidemic was under control, the province immediately held a dialogue conference with enterprises, promptly removing difficulties for businesses to restore production. Establishing a quick response team, the goal is to advise businesses most effectively, solve quickly and fight the epidemic safely. Along with that, focusing on the protection of large corporations from epidemic prevention and control to the transportation of goods, ensuring the working force, further creates a level of trust with investors.

The survey results of enterprises by the Provincial Institute of Socio-Economic Development Research showed that the satisfaction level of enterprises in testing and epidemic prevention and control activities reached 96%; satisfaction level about freight about 84.85%; satisfaction level of labor assurance 88.17%; the level of satisfaction about dialogue, solving difficulties and problems reached 94.68%.

Overcoming the challenge, after 7 months of 2021, affected by 2 outbreaks of epidemics, Bac Ninh not only repels the epidemic but also maintains and protects the production chain and the lives of workers. Businesses are basically back to normal, output is up. For example, Samsung's July revenue increased to 1.5 billion USD, more than 2 times higher than in June; of Canon increased 10 times over the previous month. The food and pharmaceutical industries increased by 30% compared to June. Industrial production index in July increased by more than 31% compared to June, exports increased by 13%. Next, after 9 months of 2021, the industrial production index increased by 11.7%; exports increased by 23.7%; Domestic revenue reached 73.8% of the estimate; Attract new and adjusted investment to reach 628 million USD…

Flexible in directing, drastic in organizing implementation, with unprecedented creative solutions, Bac Ninh effectively controls epidemics, protects people's lives and health, and develops production and business activities, without disrupting the global production and supply chain, bringing economic growth beyond the plan, making an important contribution to the development of the country. As a result, in 2021, the province's total product will increase by 6.9% compared to 2020. In which, the scale of GRDP and state budget revenue will reach over VND 33.05 trillion, exceeding 18.6% of the yearly estimate, rank 8th in the country in the year, two indicators of industrial production value (reaching 1.5 million billion VND) and export turnover (reaching about 45 billion USD), along with Ho Chi Minh City leading the country.

A new step in governance quality, being both flexible in the implementation of "dual goals", and at the same time creating a breakthrough in administrative reform; implementing the "5 spot" project, creating the most favorable conditions for investors and businesses; public administration efficiency index (PAPI) ranked 4th out of 63 (up 46 places); satisfaction index of people and organizations with the service of state administrative agencies (SIPAS) ranked 9th out of 63 (up 7 places); the provincial digital transformation index (DTI) ranks 3rd out of 63 provinces and cities; PCI index remained in the group of 10 best provinces. Bac Ninh continues to be an attractive and reliable address for domestic and foreign investors. Total newly registered investment capital of domestic and foreign projects reached 2.2 billion USD (the highest in recent years). Total newly and adjusted foreign direct investment ranked 5th nationwide, including a breakthrough in attracting investment projects of Amkor Technology, Inc (Amkor), forming of the electronics-semiconductor industry cluster.

Going to 2022, clearly recognizing the difficulties from the beginning of that year, the COVID-19 epidemic with new mutations took place on a large scale; the war between Russia and Ukraine, the impact of inflation and the global economic recession, the strong impact on Vietnam is the high increase in the price of oil and raw materials... Bac Ninh province focused on implementing many effective solutions to implement it. 4 key tasks of the 2022 theme: “Strengthening the construction and rectification of the Party and the political system; well control the COVID-19 epidemic; sustainable socio-economic development; improve the quality of planning and infrastructure and urban development”. Continue to build the foundation factor, towards the goal of becoming a city directly under the Central Government through planning, promoting investment in key, high-pervasive projects and works in order to perfect infrastructure and raise the rate of urbanization.

Bac Ninh's economy is in a period of strong recovery, but the difficulties ahead are not few, which are risks from the COVID-19 pandemic; inflationary pressures increase, global political issues put pressure on economies, especially Bac Ninh, a locality with an open economy and deep integration, the more influence is evident… Based on a comprehensive assessment of factors, the province has revised its growth scenario for 2022 with a forecast that the growth rate can reach from 8 to 10% per year. To achieve the above goal, the Provincial People's Committee directed the branches and localities to be drastic in directing and organizing the implementation of solutions to remove difficulties and restore the economy after the pandemic. Focus on disbursing the allocated public investment capital; accelerate the implementation of new industrial zones and clusters ready to welcome new investors; strengthen relationships with embassies of some countries in Korea, Japan, Singapore, Europe,... to call for investment. Select direct investment promotion, suitable to needs, create resources for development investment for 2022 and the following years.
Translated by Nguyen Thi Xuan
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