Deepest economic decline in the country
The Bac Ninh Provincial Statistics Office has just announced socio-economic data of Bac Ninh province in 2023. Accordingly, Bac Ninh's GRDP (at 2010 comparable prices) still decreased by 9.28% over the same period.
This is the biggest decrease ever and Bac Ninh is also the province with the deepest decrease among 63 provinces and cities.
Looking back at 2023, Ms. Nguyen Huong Giang - Chairman of the People's Committee of Bac Ninh province - said that frankly acknowledging the socio-economic situation of the province also revealed difficulties, shortcomings and limitations.
After a 10-year cycle of rapid and sustainable development, the province's economy is now entering a period of recession, a difficult period, with economic growth tending to slow down.
“It is impossible to avoid the impacts from the general situation of the world economy, therefore, the total product in the province GRDP decreased by 9.28%; the average 3 years 2021-2023 only achieved GRDP growth of 0.4%, at risk of not achieving the target set by the 20th Provincial Party Congress and the 5-year Socio-Economic Plan…” - Chairman of the People's Committee of Bac Ninh province said.
3 drivers of economic growth in 2024
However, Ms. Nguyen Huong Giang said that the bright spots of the economy in 2023 and the new driving forces for current growth will create momentum for 2024 and the following years to have the opportunity to overcome difficulties and develop.
To unlock resources and create new momentum for development, in the coming time, Bac Ninh will focus on exploiting three growth drivers: consumption, investment, and export, striving for a gross regional domestic product (GRDP) increase of 5% - 6% in 2024.
"Economic development must be in harmony with cultural, educational, and health development, ensuring national defense and security, social security, and environmental protection, aiming for sustainable development, green growth, and a circular economy," said Ms. Nguyen Huong Giang.
The Chairman of the People's Committee of Bac Ninh province also said that it is necessary to promote and effectively exploit resources, motivations, cultural values, and people of Bac Ninh - Kinh Bac to meet development requirements.
At the same time, continue to innovate leadership, direction, and administration, enhance the responsibility of leaders; strengthen discipline, administrative discipline, and public ethics; improve the quality of local governance and administration, and improve indicators (PCI, PAR Index, SIPAS, ICT, PGI, etc.).
Organize the announcement of Bac Ninh Provincial Planning and the Investment Promotion Conference in 2024; develop and attract high-tech industries, supporting industries, smart manufacturing; improve the competitiveness of craft villages and small and medium enterprises.
Attract projects with high technology content, large investment rate, reduce standards on the use of land, energy, labor resources, and are environmentally friendly.
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