Mobilizing resources for investment and development

In the 2020-2025 term, in the context of many difficulties and challenges, the provincial financial sector has promptly concretized the Resolution of the Provincial Party Congress; constantly innovated the work of general consulting, proactively and flexibly in the management and operation of state finance and budget. Thereby, it has made many important contributions to the economic recovery and growth of the province.

In the 2020-2025 term, in the context of many difficulties and challenges, the provincial financial sector has promptly concretized the Resolution of the Provincial Party Congress; constantly innovated the work of general consulting, proactively and flexibly in the management and operation of state finance and budget. Thereby, it has made many important contributions to the economic recovery and growth of the province.

Mobilizing and effectively using all resources for rapid and sustainable socio-economic development. Photo: TUYET HIEN

The economy recovered strongly

In the early years of the term, when the COVID-19 pandemic broke out, people's lives, production and service activities of enterprises were severely affected. Under the leadership and direction of the Provincial Party Committee and the Provincial People's Committee, the provincial finance sector promptly concretized the Resolution of the Provincial Party Congress, term 2020-2025; constantly innovated the work of general consulting, proactively and flexibly in the management and operation of state finance and budget.

Mr. Truong Dang Vinh Phuc - Director of the Department of Finance said that from the very low growth rate of 2021 due to the impact of the COVID-19 pandemic (GRDP in 2021 only reached 0.05%), the province's economy has strongly recovered with a growth rate of 7.23% in 2024 and is expected to reach 8.0% in 2025. At the same time, the financial sector has advised the Provincial People's Committee to develop the Provincial Planning for the period 2021-2030, with a vision to 2050, contributing to orienting sustainable development, ensuring harmony between economy, society and environment, creating conditions to attract investment, promote economic growth and improve the quality of life of people.

Total state budget revenue for the 2021-2025 period is estimated at about VND99,467 billion, an increase of 33.32% compared to the 2016-2020 period. The provincial budget is advised by the industry to be used in accordance with regulations, economically, and to increase the proportion of spending on development investment.

Total budget expenditure is estimated at 217,648 billion VND, ensuring resources for economic development, national defense, security and social security.

Allocation of medium-term public investment capital reached 100%, progress of public investment disbursement reached an average of over 95% of the annual plan; focusing on key projects, new rural construction and climate change response.

Attracting investment capital has achieved positive results, contributing to promoting infrastructure development, economic sectors, job creation, and ensuring social security.

Along with that, mobilizing resources for development is focused on implementation; total investment capital implemented in the province in the 2021-2025 period is estimated at 331,640 billion VND, an increase of 26.65% compared to the 2016-2020 period.

The sector has advised the Provincial People's Committee to deploy the assessment of the management capacity of departments, branches, sectors and localities in the province (DDCI) to contribute to improving the province's competitiveness index. Diversify activities to support and develop enterprises; effectively implement policies to support the development of collective economy and cooperatives.

Mobilizing and effectively using resources

Mr. Truong Dang Vinh Phuc said that in the 2025-2030 term, the financial sector will mobilize and effectively use all resources for rapid and sustainable socio-economic development. Thereby, contributing to maximizing the strengths of the marine economy, ecological agriculture , renewable energy, logistics services, marine tourism, culture and ecology of the province and gradually building the province into a marine economic center and one of the renewable energy production centers of the Mekong Delta region and the whole country. Improve the efficiency of public investment capital management, prioritize the implementation of infrastructure development goals, technical infrastructure, and social infrastructure.

Along with the annual disbursement of public investment capital plan reaching 95% or more, the province has achieved and exceeded the targets on state budget revenue and expenditure; researched, consulted, and proposed the Provincial People's Committee to submit to competent authorities to issue policies, tasks, and solutions in the fields of planning, planning, public investment, budget management, etc.

The financial sector promptly concretizes and effectively organizes the implementation of the Party's guidelines and the State's policies and laws. Focuses on implementing the goals and tasks of the "four pillars"; in which, the focus of the sector is to realize Resolution No. 68 on private economic development.

Adjust, supplement and implement the Vinh Long Provincial Planning for the period 2021-2030, with a vision to 2050 in accordance with the new development space after merger and consolidation, ensuring harmony and connection with the Mekong Delta Regional Planning.

Strengthen measures to manage and foster revenue sources, ensure correct, sufficient and timely collection. Prioritize budget expenditures for key projects, important tasks in socio-economics, national defense and security, and implementation of central and local policies.

Promoting attraction, improving the investment and business environment, supporting effective business operations. Photo: TRAN PHUOC

Along with that, the province promotes investment attraction, improves the business environment and enhances business performance; encourages investment in potential areas, creating new growth drivers. Regularly contact and dialogue with businesses, promptly remove difficulties and obstacles, and support business development.

Promote the application of science and technology, digital transformation in the financial sector... to contribute with sectors and localities to successfully implement the goals and directions set forth by the 1st Provincial Party Congress, term 2025-2030.

Implementing the Central Government's policy on innovation and reorganization of the political system apparatus towards streamlining, effectiveness and efficiency, the provincial finance sector has proactively and actively advised the Provincial Party Committee and the Provincial People's Committee to arrange working offices and equipment for departments, branches, sectors, socio-political organizations of the province and localities; promptly adjust the budget estimates, temporarily provide additional balance for 124 communes and wards. In addition, organize training courses on professional finance and planning and establish working groups to support the grassroots in overcoming difficulties... contributing to ensuring that the two-level local government operates smoothly and effectively.

TUYET HIEN

Source: https://baovinhlong.com.vn/kinh-te/202510/huy-dong-nguon-luc-cho-dau-tu-phat-trien-6220427/