The economic situation in the first four months of the year showed many positive signs.

The scene at the meeting. Photo: DONG ANH

Many bright spots

According to the report of the Department of Planning and Investment, the socio-economic situation in April and the first four months of 2024 developed in a positive direction with bright spots in the economy .

Trade, services, and transportation activities are showing a fairly strong upward trend, the market prices are stable, and the supply and demand of essential consumer goods are ensured.

Total retail sales of goods and consumer service revenue reached over 6,000 billion VND, an increase of 10.5% compared to the same period in 2023.

Overall, in the first four months of 2024, total retail sales of goods and services are estimated to reach over 24 trillion VND (a 10% increase compared to the same period in 2023).

Tourism activities were bustling, especially during the long holiday period (April 30th and May 1st). The total number of overnight visitors in Quang Nam province in April was estimated at 455,000, an increase of 11.7% compared to the previous month and a 22% increase compared to the same period in 2023.

Industrial production in April 2024 showed signs of improvement compared to previous months, with the textile and garment manufacturing sectors receiving many new orders.

The Industrial Production Index (IIP) for April 2024 is estimated to have increased by 4% compared to the previous month and by 15.8% compared to the same period last year (compared to a decrease of 35.7% in the same period last year).

According to the Statistics Department's report, total state budget revenue in the province from the beginning of the year to April 22nd reached over 6.2 trillion VND (a decrease of 13.6% compared to the same period in 2023). However, at the meeting, Mr. Dang Phong - Director of the Department of Finance - reported that as of May 3rd, the state budget revenue of Quang Nam province in 2024 reached 7,978 billion VND (achieving 33.81% of the projected target).

Regarding agricultural production, according to preliminary reports from localities, the yield of the winter-spring rice crop this year is estimated at 61.3 quintals/hectare, with an estimated production of 254.5 thousand tons…

Focus on removing bottlenecks.

According to Mr. Nguyen Hung, Deputy Director of the Department of Planning and Investment, besides the positive aspects, the province's socio-economic situation still faces difficulties, including a decrease in budget revenue from hydropower and alcoholic beverages; disease outbreaks in livestock; and a disbursement rate that is higher than the same period last year but lower than the national average.

Mr. Nguyen Hung - Deputy Director of the Department of Planning and Investment, giving a speech. Photo: Dong Anh

Furthermore, the number of newly registered businesses decreased compared to the same period last year, along with a significant increase in the number of businesses withdrawing from the market, indicating that businesses are facing many difficulties in their investment, production, and business activities.

According to the Quang Nam Statistics Department, some products saw a decrease in the Industrial Production Index (IIP) compared to the same period last year, such as: soft drink production (down 16.6%); beer production (down 70.6%); other types of coal (hard coal) (down 20.9%); cardboard boxes and containers (down 21.2%); electricity production (down 32.9%)...

Mr. Hung proposed several solutions to boost economic development in the coming months. These include focusing on disbursing funds, especially those carried over from 2022 and 2023. To achieve this, attention must be paid to the allocation of funds, as many sources of funding remain unallocated, particularly those for national target programs…

Analyzing the budget revenue situation, Mr. Dang Phong - Director of the Department of Finance - believes that a budget shortfall in 2024 is highly likely due to difficulties faced by sectors that contribute significantly to revenue.

Notably, there are difficulties in collecting land use fees. The reasons include many businesses still owing money, others facing legal procedural obstacles, and many projects not yet having their land prices determined…

Regarding the decline in revenue from beer and spirits, many opinions suggest that the Provincial People's Committee should work with the brewery to resolve difficulties and find solutions to increase sales volume.

Concluding the meeting, Vice Chairman of the Provincial People's Committee Ho Quang Buu requested that departments and agencies make greater efforts and show more determination to implement tasks and overcome difficulties in all fields.

In particular, the Department of Planning and Investment needs to research solutions to accelerate the disbursement of public investment capital. Departments and agencies should pay attention to the medium-term public investment capital for 2025-2030, especially by proactively working with central ministries and agencies to register investments…

Regarding addressing difficulties for businesses, Vice Chairman of the Provincial People's Committee Ho Quang Buu suggested that attention should be paid to resolving difficulties for businesses, especially Thaco. Currently, Thaco is investing in multiple sectors and fields in the province, so there are many obstacles that require timely support from the province.

In addition, relevant departments and agencies need to pay attention to the successful implementation of events such as Techfest Quang Nam 2024, events promoting Quang Nam products in Ho Chi Minh City; focus on the work of eliminating temporary housing; review and evaluate provincial People's Council resolutions related to their respective sectors and fields...

Source: https://baoquangnam.vn/tinh-hinh-kinh-te-4-thang-dau-nam-co-nhieu-diem-sang-3134003.html