Many positive aspects, but also numerous challenges.

The socio-economic picture of the province in the first four months of this year shows many positive signs, but challenges remain that require concerted efforts and solutions from all levels of government and the business community. This assessment was given at the regular meeting of the Provincial People's Committee in May on the afternoon of May 13th.

In the first four months of the year, the province's industrial production value (excluding crude oil and natural gas) increased by 10.35%. In the photo: Employees inspect goods in the warehouse at Phu My Fertilizer Plant.

Impressive growth in many areas.

At the meeting, Mr. Hoang Vu Thanh, Director of the Department of Finance, stated that in the first four months of this year, 6 out of 14 economic and financial indicators of the province recorded higher growth rates compared to the same period last year and exceeded the annual growth target approved by the Provincial People's Council. Notably, revenue from transportation and warehousing increased by 10.19%, and accommodation services increased by 15.18%, demonstrating the strong development of the tourism and logistics sectors.

The value of agricultural , forestry, and fisheries production also showed positive changes, increasing by 4.14%, 1.02%, and 3.88% respectively. This affirmed the stability and development potential of the province's agricultural economic sector, especially in the context of increased consumer demand during the Lunar New Year holidays. Domestic revenue was also a bright spot with an impressive growth rate of 16.38%, reaching 16,871 billion VND.

Several other economic indicators, while showing higher growth compared to the same period last year, still fell short of the annual growth targets. Specifically, industrial production value (excluding crude oil and natural gas) increased by 10.35%, retail sales of goods increased by 13.3%, travel service revenue increased by 12.68%, total investment in development in the province increased by 39.37%, total budget revenue in the province increased by 5.67%, and total local budget expenditure increased by 35.65%.

Over the past four months, the province has issued new business registration certificates to 641 enterprises, a 6.3% increase compared to the same period last year, with a total registered capital of VND 11,042 billion, a 21.3% increase compared to the same period last year. A total of 841 enterprises temporarily ceased operations, of which 172 were dissolved, a 44.54% increase.

As of the end of April 2025, the province had 19,383 enterprises with a total registered capital of 699,688 billion VND and a total registered workforce of 224,428 employees.

Continue to review and support businesses in resolving difficulties.

Despite the achievements, challenges remain. The most worrying aspect is the import-export situation. Export turnover for the first four months is estimated at nearly $2.6 billion, a decrease of 4.96% compared to the same period last year. Import turnover also decreased by 2.61% compared to the same period last year, estimated at nearly $2.1 billion, reaching only 26.83% of the annual plan.

According to assessments by relevant authorities, factors affecting import and export activities include exchange rate fluctuations and geopolitical tensions leading to increased transportation costs. In addition, the temporary suspension of operations by large enterprises such as Long Son Petrochemical Company Limited has also significantly impacted the province's export turnover.

The disbursement progress of public investment capital in 2025 reached 19.02% compared to the allocated plan. Although higher in absolute terms than the same period in 2024, it still needs to be accelerated further to boost economic growth and improve infrastructure. This is due to obstacles in land compensation and clearance, and some projects are undergoing adjustments to their investment policies.

To overcome challenges and achieve set goals, Mr. Nguyen Van Tho, Chairman of the Provincial People's Committee, requested that departments, agencies, and the People's Committees of districts and cities continue to review and support businesses in resolving difficulties, accelerate the progress of key industrial projects, and pay attention to labor issues. At the same time, they should clearly analyze the reasons why businesses enter and leave the market. In particular, trade promotion and the search for new export markets need to be emphasized to improve the import and export situation.

Regarding public investment, the Chairman of the Provincial People's Committee requested that departments, agencies, and localities focus on resolving procedural and compensation issues to accelerate capital disbursement; and strengthen state management of tourism to attract tourists and develop the tourism industry sustainably…

Text and photos: HA AN

Source: https://baobariavungtau.com.vn/kinh-te/202505/buc-tranh-kinh-te-4-thang-dau-nam-2025-nhieu-diem-sang-nhung-cung-khong-it-thach-thuc-1042420/