Dak Nong strives to achieve its economic targets for 2024.

Positive signs

According to assessments, the economic situation in Dak Nong continued to remain stable during the first eight months of 2024. Several industrial factories resumed operations.

The province's export turnover is on the road to recovery. Prices of key agricultural products continue to rise. Revenue from tourism activities is higher than the same period last year.

Import and export activities in Dak Nong are on the road to recovery.

The investment environment has improved, and businesses' confidence in the Dak Nong provincial government has increased. Currently, many businesses operating in the mining and bauxite sectors are approaching the province to inquire about and discuss investment opportunities. Although the investment policy has not yet been officially approved, the chances of success are very high. “Five businesses have submitted applications to the province, with a total investment capital of over 8 million USD. The Department of Planning and Investment is accelerating the approval process. If successful, this will be considered a positive sign to attract investment to the province,” said Tran Dinh Ninh, Director of the Department of Planning and Investment.

Dak Nong grants investment certificates to numerous businesses.

Another positive development for Dak Nong is the approval of the Gia Nghia (Dak Nong) - Chon Thanh ( Binh Phuoc ) expressway project by the National Assembly. Currently, the Prime Minister has directed the two provinces of Binh Phuoc and Dak Nong to cooperate closely.

The goal is to start construction on this expressway between now and the end of 2024. A swift start will accelerate the disbursement of funds and boost progress in many other sectors.

In the first seven months of 2024, total retail sales of goods and services were estimated at VND 14,900 billion, an increase of 8.2% compared to the same period last year. Export turnover reached USD 544 million, a decrease of 3.6% compared to the same period. Budget revenue reached VND 1,690 billion, achieving 51.23% of the provincial People's Council's projected target. The province saw 65 newly registered businesses, an increase of 12% compared to the same period.

The bottleneck needs to be addressed.

Although the economic situation shows positive signs, many important economic indicators in Dak Nong have not yet met the set targets. It is projected that, without determination and decisive action, by the end of 2024, 3 out of 11 economic indicators in Dak Nong will fail to meet the set targets.

Dak Nong's GRDP economic growth target for 2024 is at risk of not being met.

First, regarding the economic growth target (GRDP) for 2024, Dak Nong aimed to achieve 6.55%. However, according to calculations by relevant units, by the end of 2024, Dak Nong's GRDP only reached 4.18%, 2.37% lower than the planned target.

Regarding the target for total social investment capital, there is also a risk of not achieving it. According to the plan, in 2024, the total social investment capital in the province was to exceed 20,000 billion VND. However, based on the current situation, by the end of 2024, the province will only have implemented approximately 19,030 billion VND, reaching only 95% of the plan.

One important target that is at risk of not being met is total state budget revenue. By the end of July 2024, Dak Nong had only collected 1,690 billion VND, reaching 51.23% of the provincial People's Council's budget estimate. At this rate, by the end of 2024, Dak Nong will only have collected approximately 2,645 billion VND, reaching 86% of the set budget estimate.

Government revenue in the first few months of the year did not meet expectations.

Regarding the budget revenue target, at the meeting of the Provincial People's Committee members held on July 30, 2024, the Deputy Secretary of the Provincial Party Committee and Chairman of the Provincial People's Committee, Ho Van Muoi, emphasized that the failure to meet the budget revenue target was partly due to subjective reasons. "Subjective reasons stem from a lack of decisive action and focus. The Provincial People's Committee leadership has issued specific directives to each department, agency, unit, and locality on this matter. Failure to meet the budget revenue target will negatively impact many other areas," Chairman Ho Van Muoi affirmed.

In addition, during the first few months of the year, some key investment projects with a significant impact on the province's socio-economic development are facing difficulties and obstacles.

Currently, these obstacles cannot be definitively resolved. This is the reason for the slow disbursement of public investment capital in the area. When public investment is delayed, GRDP growth will be low.

Furthermore, many obstacles exist in the mechanisms and policies for implementing large-scale investment projects in the province, such as the aluminum electrolysis project and wind power projects.

Furthermore, resources for addressing the issue of spontaneous migration and damage caused by natural disasters have been identified, reported, considered, and processed, but have yet to be fully resolved.

High concentration

In reality, the ongoing economic activities require Dak Nong to be truly determined and decisive in order to achieve the set targets. In particular, departments, sectors, and localities need to identify bottlenecks to focus on resolving. Many areas need to be clearly identified to focus solutions: revenue collection, planning implementation, investment capital disbursement, etc.

Regarding solutions for revenue collection, the Standing Vice Chairman of the Dak Nong Provincial People's Committee, Le Van Chien, emphasized that, given the current difficulties, the province will implement an "austerity" mechanism. Local authorities will actively increase revenue and reduce expenditure.

Deputy Secretary of the Provincial Party Committee and Chairman of the People's Committee of Dak Nong Province, Ho Van Muoi, inspected the Dao Nghia-Quang Khe road project (phase 2).

Regarding planning issues, many obstacles are currently being encountered. If these obstacles are not removed and the planning process is not accelerated, it will create bottlenecks in many other areas.

“Departments, sectors, and localities should report to the Provincial People's Committee on their plans and strategies for implementing the planning within their respective units. Based on the overall plan, any difficulties encountered should be reported immediately to the Provincial People's Committee. This will avoid a situation where every area is hampered by planning issues,” emphasized Ho Van Muoi, Chairman of the Dak Nong Provincial People's Committee.

The Chairman of the Provincial People's Committee explained why the general plan, though long-standing, is still being implemented slowly. He stated that if the situation becomes too difficult, the province is ready to invite experts to guide the implementation. He explained that once planning issues arise, many other areas become problematic, such as attracting investment, land use, auctioning public assets, and socio-economic development.

Regarding the disbursement of public investment funds, leaders of departments, agencies, and the People's Committees of districts and cities have no other option but to be determined and resolute to the end. In cases where disbursement cannot be completed, the Department of Planning and Investment will advise on flexible solutions to reallocate funds to other projects. For national target programs, units will handle the reallocation of funds flexibly.

According to the Department of Planning and Investment, in the last months of the year, Dak Nong focused on several solutions such as: accelerating the disbursement of public investment capital, implementing 3 national target programs; reviewing the implementation of non-budgetary investment projects that have been granted investment approval but are currently facing difficulties; and strengthening guidance and support for investors in the process of implementing key projects.

Source: https://baodaknong.vn/dak-nong-no-luc-hoan-thanh-cac-chi-tieu-kinh-te-2024-228242.html