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Focus on key projects

A problem frequently mentioned by many provinces and cities nationwide recently is the difficulty in disbursing public investment funds, which has resulted in low disbursement rates. Therefore, the Government has directed that any ministry, sector, or locality that is slow in disbursing public investment funds will have their capital reallocated. This serves as a warning, forcing leaders to take stronger action in disbursing public investment funds. For Binh Thuan province, since the beginning of 2023, the province has continued to implement directives and manage tasks such as creating favorable conditions to accelerate progress and officially opening two sections of the North-South Expressway (Eastern section) from Phan Thiet to Dau Giay and Vinh Hao to Phan Thiet; and urging the acceleration of the implementation of projects of great significance to the province's socio -economic development. As of May 31, 2023, the disbursement of public investment capital for 2023 reached VND 1,292,011 million (26.54% of the plan), including: provincial budget capital of VND 660,743 million, reaching 21.78% of the plan; central government support capital of VND 631,268 million, reaching 37.12% of the plan; foreign capital (ODA) has not yet been disbursed.

Paper production in the Industrial Zone

In the first half of the year, Binh Thuan continued to improve the effectiveness of investment promotion activities, strengthening efforts to attract strategic investors, large enterprises, and corporations to invest in the province as a leverage to boost local economic development. Evidence of this is the numerous visits by corporations, general companies, businesses, and embassies from various countries to explore investment opportunities in the province. This is a positive sign for the province's economy in the coming period, as transportation bottlenecks have been resolved. As a result, investors have come to explore and sign memoranda of understanding for cooperation agreements with Binh Thuan in many fields: industry, agriculture , and tourism. In addition, the province has intensified investment promotion and attracted secondary investment projects into industrial zones and clusters. The province facilitated the early completion of investment preparation, compensation and land clearance for investors, and promptly resolved difficulties and obstacles in the implementation of investment and construction of industrial parks: Son My 1, Son My 2, and Tan Duc. In addition, the province urged investors to complete the infrastructure of industrial parks; the value of infrastructure investment in industrial clusters reached 52 billion VND. To date, there are 47 power plants operating in the province with a total capacity of 6,523.21 MW.

The Vinh Hao - Phan Thiet expressway has just been inaugurated.

Improving the investment environment and supporting businesses.

Regarding attracting non-budgetary investment capital, in the first six months of 2023, the province had 13 projects granted investment approval decisions with a total registered capital of VND 642.63 billion; 13 projects registered adjustments, with a total adjusted capital increase of VND 5,803.04 billion; and 2 projects commenced operations. Regular reviews were conducted to address difficulties and obstacles for non-budgetary projects to accelerate implementation progress; at the same time, 2 projects with slow implementation were revoked in accordance with regulations.

Supporting businesses and improving the investment environment (pictured: transactions at a bank)

Another new development is the province's firm commitment to terminating investment activities in accordance with the law for projects that are not implemented, are delayed in implementation, or are implemented incorrectly, causing waste of land resources. At the same time, the province is effectively implementing policies to support businesses and cooperatives investing in agriculture and rural areas, and solutions to improve the investment and business environment and enhance competitiveness within the province. Regularly reviewing and adjusting inspection and audit plans to ensure there is no duplication or overlap that could negatively impact business operations.

Wind power project in Binh Thuan

The number of newly registered businesses was 293, a decrease of 21.24% compared to the same period in 2022; the newly registered capital was VND 3,342.67 billion. 250 businesses announced temporary suspension of business operations, an increase of 16.28% compared to the same period. 47 businesses completed dissolution procedures and ceased production and business operations, a decrease of 6% compared to the same period. 104 businesses resumed operations.

DT 719B Road

Regarding economic development tasks for the remaining half of the year, the province has identified the need to accelerate the progress of projects already started, such as: Van Thanh Bridge; Son My 1 Industrial Park; to promptly approve the construction plan for the Ca Ty River embankment (section from Duc Thanh Bridge to Ung Van Khiem Road); to commence construction of the Ca Ty River apartment complex; to accelerate the implementation of the DT 718B road, Ham Kiem - Tien Thanh road, inter-district roads along the main canal route through Ham Thuan Bac, Bac Binh, and Tuy Phong districts; and to complete the project dossiers for Ka Pet Lake and La Nga 3 Lake to provide a basis for implementing the next steps.

Hopefully, with the positive economic development from the first quarter and the first half of the year, and with clear direction in the guidance and management of the Provincial Party Committee and the Provincial People's Committee, Binh Thuan's growth rate will continue to increase in the second half of 2023.

Source: https://baobinhthuan.com.vn/dau-tu-phat-trien-gat-hai-thanh-cong-109788.html