Maintaining economic growth momentum. Lesson 1

Despite the difficult context due to the impact of the world , domestic and provincial situations, the growth results of the province's gross domestic product in the first quarter of 2023 increased by 9.86%, ranked 2nd out of 63 localities, and in the first 6 months increased by 7.76%, ranked 11th in the country, affirming that the management and operation policies of the Provincial Party Committee and Provincial People's Committee have gradually promoted their effectiveness.

Lesson 1: Take advantage of opportunities for economic breakthroughs

Binh Thuan is facing great opportunities for development, especially the opportunity to become a bright spot in tourism development and investment attraction...

High economic growth

In the first 6 months of 2023, under the drastic direction and management of the Provincial Party Committee, the Provincial People's Committee, the efforts of all sectors, levels, the business community and the people, the province's socio-economy has achieved remarkable results. A notable bright spot is that the province's economy has grown quite high compared to other localities in the country. The estimated gross domestic product (GRDP) increased by 7.76%, ranking 11th in the country, 3rd in the North Central and Central Coast regions. All three economic pillars of the province have grown: the agriculture - forestry and fishery sector increased by 3.69%; industry - construction increased by 6.03% (including: industry increased by 5.53%, construction increased by 10.14%) and services increased by 13.64%, contributing greatly to the economic growth of the province.

The coastal city of Phan Thiet and Phu Quy island attract a large number of tourists.

Tourism activities have become vibrant again with many favorable factors, especially the series of events of the National Tourism Year that have attracted many domestic and foreign tourists to visit and relax, the long holiday period, the Dau Giay - Phan Thiet expressway put into operation, the Phu Quy island tourist route attracting many tourists to experience... have created opportunities for the province's tourism industry to make a breakthrough. Just during the Hung Kings' death anniversary, April 30 and May 1, the province welcomed 160,000 visitors and guests, double the same period. In 6 months, the whole province is estimated to welcome more than 4.46 million visitors, an increase of 86.36% over the same period; tourism revenue reached 11,348 billion VND, an increase of 1.5 times...

Mr. Pham Quoc Hung - Director of the General Statistics Office, when evaluating the results, also highlighted: "The bustling tourism activities have led to trade - services being a strong economic sector and a major contributor to the province's economic growth in the first months of this year, especially in the fields of accommodation, food and beverage, and entertainment. Total retail sales of goods and service revenue are estimated at VND 44,602 billion, up 32.4% over the same period."

A review of the outstanding economic indicators shows that the agricultural sector is quite favorable, the total winter-spring crop area reached 52,290 hectares, exceeding the plan by 11.2%. Livestock development is strong, seafood exploitation output is estimated at 109,238 tons, up 2.2%. Industrial production value is estimated at 20,435.3 billion VND, up 3.51%, with 8/16 main industrial products increasing over the same period. The province has created favorable conditions to attract non-budgetary investment capital, with 13 more projects granted investment approval decisions with a total registered capital of 642.63 billion VND, an average of 49.4 billion VND/project, showing the large scale of the project; 2 more projects have been put into operation. Investment promotion continues to be implemented, business support is of interest, and public investment disbursement is promoted...

Phan Thiet Dau Giay Expressway and National Tourism Year event are great opportunities for economic development

Opportunities and identifying challenges

In the first 6 months of this year, despite many difficulties, Binh Thuan is also facing many opportunities to break through and develop rapidly. In particular, it is necessary to mention the 2 North-South expressway projects, Vinh Hao - Phan Thiet, Phan Thiet - Dau Giay, with a total length of more than 160 km, completed and put into operation, facilitating the trade of goods, shortening travel time for people and tourists, attracting investment. Along with organizing activities in the series of events of the National Tourism Year 2023 "Binh Thuan - Green Convergence", there is an opportunity to promote the province's tourism industry, creating momentum for tourism to recover and grow rapidly. Phan Thiet Airport (military category) is about to be completed, selecting investors for the civil aviation category, which will open up many prospects in attracting strategic investors in various fields to promote the province's socio-economic development quickly and sustainably. However, the provincial economy still has many difficulties and problems when production and business activities of enterprises and people still face many difficulties. Enterprises are facing great challenges to maintain production and business, waiting for positive opportunities and opportunities of the market. This is clearly seen in the first months of the year, the number of newly established enterprises was only 293, down 21.24% over the same period and 104 enterprises returned to operation. In agriculture, the linkage of production, processing and consumption of agricultural products still has many difficulties and shortcomings. There are still cases of fishing boats and fishermen in some localities illegally fishing in foreign waters being arrested, affecting the province's efforts to combat IUU fishing. The progress of compensation and site clearance of some projects, although being directed strongly, has not yet met the actual requirements, especially some key traffic works and industrial parks. Provincial budget revenue decreased compared to the same period; the determination of specific land prices to fulfill financial obligations is still slow due to difficulties and obstacles; the auction of land use rights has not been carried out...

It is necessary to grasp and exploit to the fullest the current potentials and development opportunities of the province; promote the effective dissemination of the series of events of the National Tourism Year with the theme Binh Thuan - Green Convergence to develop tourism, attract investment... maintain economic growth momentum in the remaining months of 2023.
Chairman of the Provincial People's Committee Doan Anh Dung emphasized at a recent meeting.

Along with the convergence of opportunities, there are also intertwined challenges. Provincial leaders have now fully identified the achievements and difficulties, shortcomings and limitations of the economy, as well as clarified the objective and subjective causes to soon have effective solutions to overcome and strive to achieve the highest socio-economic targets of the province in 2023.

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