Determined to achieve a decade of double-digit growth.

Việt Nam•29/07/2024

With a determination to achieve growth exceeding 10% in 2024, marking the 10th consecutive year of double-digit growth, Quang Ninh is urgently adjusting its growth scenario based on actual conditions and needs, in line with the development process of each sector and locality.

At the end of the 7-month implementation period of the 2024 socio-economic development plan, although the pillars of economic growth – processing and manufacturing industries; public investment, non-budgetary investment; services and tourism – all met the planned targets, Quang Ninh's development potential has not been fully exploited compared to its opportunities and potential; several bottlenecks and difficulties have revealed many shortcomings.

Comrade Cao Tuong Huy, Chairman of the Provincial People's Committee, directed the adjustment of the growth scenario at the July regular meeting of the Provincial People's Committee.

Specifically, in the processing and manufacturing industry, although it grew by 34.81% in the first seven months of the year, only 5 out of 16 products met or exceeded the growth target, while the remaining 11 products did not meet the target. In addition, domestic budget revenue only reached 51% of the projected amount, failing to meet the average revenue growth rate according to the scenario; the disbursement rate remained low; and credit growth only increased by 4.4% compared to the end of 2023, reflecting weak capital absorption capacity in the economy... This is creating significant pressure on economic sectors in the remaining months of the year, requiring Quang Ninh to have a clear understanding and timely, appropriate solutions to address bottlenecks and exploit existing potential.

Following closely the directives from the Provincial Party Committee and the Provincial People's Council, especially Resolution No. 20-NQ/TU (dated November 27, 2023) of the Provincial Party Committee on the direction and tasks for 2024 with specific targets such as: Ensuring annual growth of over 10%, marking the 10th consecutive year and a decade of double-digit growth; state budget revenue not less than VND 55,600 billion; total social investment increasing by over 10%, with a focus on attracting FDI of at least USD 3 billion; total tourist arrivals for the year exceeding 17 million...

The processing and manufacturing industry will continue to be the driving force of growth in the remaining months of the year.

At the regular meeting of the Provincial People's Committee held at the end of July, Mr. Cao Tuong Huy, Chairman of the Provincial People's Committee, requested relevant agencies and units to review and adjust the growth plan, ensuring it meets actual conditions and needs, and is consistent with the development process of each sector and locality, based on the resolutions and conclusions of the Provincial Party Committee and the Provincial People's Council. This includes focusing on the pillars of growth, exploiting, utilizing, and promoting all potential, strengths, and resources, and fostering in-depth and sustainable development.

Based on that, the growth scenario has been adjusted by the Provincial People's Committee; an action program outlining specific tasks and solutions for each month has also been developed; and clear assignments of tasks, responsibilities, and timelines for implementation have been given to each unit and locality. The overarching and guiding principle is: Focusing on accelerating economic restructuring associated with innovation in the growth model; closely adhering to the driving forces of industrial parks and economic zones; heritage economy; urban economy, digital economy; the dynamism, innovation, effectiveness, and efficiency of the public sector; and maximizing the use of a synchronized and modern transportation infrastructure system, promoting inter-regional and international cooperation and connectivity…

For economic sectors, adjustments will be made to increase growth in almost all areas to ensure the target of 12.02% GRDP growth in the third quarter and 12.85% in the fourth quarter, guaranteeing the annual GRDP growth target of 10.9%. Specifically, the industrial and construction sector will see an increase of 9.38%; the service sector 14.86%; and product taxes 8.53%, bringing total social investment to VND 109,358 billion. Notably, with the advantage of being a locality with strong appeal in tourism development due to the effective implementation of many new service products associated with quality improvement, Quang Ninh's tourism attraction scenario for 2024 has been adjusted to target 19 million visitors, an increase of over 2 million compared to the resolution and plan for the initial period.

Many new and attractive tourism products are drawing visitors to Quang Ninh.

The development perspective ensures that the province's growth targets will be closely linked to cultural and human development through the effective implementation of policies guaranteeing social security and improving social welfare, especially for policy beneficiaries, war veterans, people in remote areas, ethnic minority regions, border areas, islands, and disadvantaged areas.

With concrete solutions and the proactive and decisive actions of Party committees, government agencies, and the people of the province, the set targets and plans will certainly be achieved in the remaining months of the year. This will be a new record in the development of a province that is exemplary, leading the country in many fields, a bright spot of innovation in the Northern Delta region, and a growth pole in the North, as the late General Secretary Nguyen Phu Trong congratulated and praised during his visit to the province in April 2022.

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