The People's Committee of Lao Cai province has just issued Report No. 304/BC-UBND on the socio -economic development situation in the first six months of 2024.
Accordingly, despite the overall difficulties facing the country, with strong determination, the province's socio-economic development has achieved many positive results:
The growth rate reached 5.62%, ranking 7th out of 14 provinces in the northern mountainous region and 42nd out of 63 provinces and cities.
The size of the economy reached 35,281 trillion VND (an increase of 9.5% compared to the same period in 2023), ranking 4th out of 14 provinces in the northern midland and mountainous region, and 44th out of 63 provinces and cities.
The economic structure continues to shift positively. The agriculture, forestry, and fisheries sector now accounts for only a small proportion (13.44%); industry and construction account for 37.69%; and services account for 38.76%...
In Lao Cai, tourism continues to play a leading role in the economy. The number of visitors to tourist destinations in the first six months of the year increased sharply, estimated at 4.14 million (equivalent to 48.67% of the annual plan and a 9.63% increase compared to the same period last year).
Besides the outstanding achievements, Report No. 304/BC-UBND also points out many limitations of this province: the scale of agricultural production is still small and fragmented; the balance of exports and imports shows a very large imbalance (4-5 times); the progress of some key projects is slow; the quality of education in ethnic minority and mountainous areas is not sustainable; natural disasters are becoming increasingly complex….
The report also highlighted difficulties in several industrial production sectors such as: mining and mineral processing; hydropower; and the development of industrial zones and clusters...
Specifically, according to a source close to Lao Dong newspaper, regarding land-related issues, in the first six months of the year, one project in Lao Cai had to request a halt to production: the apatite ore mining project at Mine 32 - Lang Cang 2 of Lao Cai Fused Phosphate Fertilizer Joint Stock Company.
Regarding financial imbalances, Vietnam-China Steel Company requested to cease operations at its iron and steel plant from April 15, 2022, with plans to resume operations on June 30, 2024, but this has not yet been implemented.
Carat Nam Thi Graphite Mine Joint Stock Company also requested to cease production due to outdated technology and product quality failing to meet market demands.
Also related to Lao Cai Fused Phosphate Fertilizer Joint Stock Company, the company's fused phosphate fertilizer production plant has requested to cease operations from January 2024 due to a lack of customers.
In addition, in Lao Cai province, there are many other mining projects that are behind schedule, facing difficulties in waste disposal, or are in the process of resolving problems, such as the Sinh Quyen Copper Ore Processing Plant Branch, Ta Phoi Copper Joint Stock Company, and DAP No. 2 Joint Stock Company...
According to a report by the People's Committee of Lao Cai province, the cessation of operations or the suspension of project implementation by the aforementioned businesses has significantly impacted the value of industrial production in the province, as well as the value of local budget contributions.
Source: https://laodong.vn/kinh-doanh/nhieu-doanh-nghiep-khai-khoang-dung-san-xuat-cong-nghiep-lao-cai-gap-kho-1368670.ldo
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