Rapid economic recovery thanks to many synchronous solutions
14:13 25/04/2022
Entering 2022, many synchronous solutions have been implemented to ensure the source of supply, stabilize price of petrol and oil, food, foodstuff, maintain stable interest rate, exchange rates, etc. Along with the quick speed of vaccination, the epidemic has been basically controlled, create the foundation for the production and business activities to recover strongly in right the first quarter. Gross regional domestic product (GRDP) increased by 7.63%, it is expected that the growth momentum continues to promote in the second quarter and the whole year 2022.

Electronic component products increased 72.1% in March.

The province has adjusted the appropriate measures to combat the COVID-19 epidemic, allowed the reopening of previously restricted economic activities. The organization for implementation of tasks, solutions according to the Resolution No. 11/NQ of the Government on the Socio-economic recovery and development program has created more driving forces and “bounce” for the economy. The solutions for exemption and reduction of tax, fee, charge and support of interest rate; policies to support enterprises in restructuring debt repayment period, loan interest exemption and reduction and keeping debt groups unchanged, providing new loans at appropriate interest rate, and supporting 2% interest rate in some industries and fields... have created a buffer step for enterprises to make maximum use of resources for restoring the production in line with the market demand.

The non-state sector and FDI recovered quickly, so the economic structure of the province continues to shift in the direction of increasing the density of industry - construction and service. In which, the industry - construction accounts for 78.03%; the service 16.03%; the agriculture, forestry and fishery 2.61%; product tax area minus product subsidy 3.34%. Compared to the same period, the density of the industry - construction sector increased by 0.79%; the service increased by 0.24%; the agriculture, forestry and fishery decreased by 0.5%.

The bright spot in the economic picture is the industry, the enterprises have jointly shouldered the support to the people, ensuring the social security, and at the same time persisting in fighting the epidemic, retaining employees, and holding on the production with many creative forms in the realization of “dual goals”, creating solutions for economic development in the “new normal” conditions. The index of industrial production (IIP) increased by 9.79%, which is higher than the average increase in the past 5 years, the highest increase in the last 4 years and exceeded the plan set out by the province. The exports increased again, the trade surplus reached 700 million USD.

Currently, the enterprises in the province strictly comply with the regulations on epidemic prevention and control in the new situation and are making efforts to step up the production to increase sales and complete the signed orders. The whole province has 634 newly established enterprises, with a total registered capital of 6,054 billion VND, an increase of 1.9% in the number of enterprises and an increase of 8.6% in the total additional registered capital; 389 enterprises returned to operation (up 31%) in all fields. The total number of newly established enterprises and the enterprises that returned to operation in the quarter is 1.78 times higher than the number of enterprises that withdrew from the market and dissolved, lay the foundation for production growth right in the second quarter and the next period.

The commercial, service and consumption activities are stable, meet the people’s shopping needs. With a flexible response, suitable to the epidemic development, there has been a fairly high growth rate of many service industries.... In general, the service sector achieved an increase of 10.56%, contributed 1.78 percentage points in the economic growth. Although the agricultural production took place in the very cold and damaging cold conditions, the Agricultural sector promptly directed the appropriate and effective response solutions, therefore the cultivated crops and domestic animals grew and developed well. The breeding maintained stably, the output of livestock and poultry meat met fully the consumption demands; the forestry focuses on performing well the care and protection of forests. The aquaculture production had an abundant supply, met fully the market demands. The price of commercial fish types had stable consumption and tended to increase slightly over the same period…

It is forecasted that in the coming time, the world political situation will continue to have complicated fluctuation, especially the political tensions between the powerful countries. Domestically, the COVID-19 epidemic, inflation risks, bad debts, natural disasters, and climate changes are always potential. In the province, the rapidly increasing COVID-19 epidemic affects the production and business activities, the COVID-19 vaccination for children from 5 to 12 years old and the 4th dose vaccination for adults have not been implemented, the disbursement of public investment capital is still slow… Therefore, the task in the coming time should focus on well implementing the Resolution 128 on “Safe adaptation, flexibility, effective control of the COVID-19 epidemic”; Resolution 11/NQ-CP on “Socio-economic recovery and development program; Resolution No. 43/2022/QH15 of the National Assembly on fiscal policy; Directive No. 01/CT-UBND on key tasks and main solutions to direct and manage the implementation of the 2022 socio-economic development plan and the directives, documents and policies to strengthen management, solve difficulties for production and business, promote the comprehensive development in the socio-economic fields of the province.

At the same time, promptly speed up the disbursement of public investment capital. Attach special importance to the policy dialogue, on-the-spot investment promotion, strengthening the connection between the FDI sector and the domestic economic sector. Support the enterprises to find markets for exporting goods, importing raw materials, fuels, spare parts and spare parts, develop the internationally competitive industries and deeply participate in global value chains. Exploit opportunities from the Free Trade Agreements in order to find solutions to develop markets and remove barriers to penetrate new markets. The departments, branches and localities, based on the practical situation, have flexible and timely management plan according to the fluctuations of the local and world economy, and are determined and more drastic to effectively implement the Socio-economic recovery and development program, strive to exceed the set growth target for the whole year.

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