The meeting was attended by Mr. Nguyen Loc Ha – Vice Chairman of the PPC and members of the PPC. It was also connected online to districts and cities in the province.
Most of the socio-economic indicators reach 50% or more
In the first 6 months of 2024, the socio-economy of Binh Duong has some positive achievements. Out of 36 indicators, most of which have reached 50% or more up to now, 06 indicators have exceeded the year plan, and 01 has decreased compared to the same period, i.e., attracting foreign investment. The PPC will focus on directing and giving specific plans for each month, and each quarter of the rest 6 months, striving to achieve the highest possible targets.
The province's GRDP increased by 6.19% compared to the same period in 2023, which was 3.55%. Specifically, industry and construction increased by 5.81%; services increased by 7.36%; product taxes minus product subsidies increased by 7.2%; agriculture, forestry, and fishery increased by 3.29%.
Overview of the meeting.
Industrial production activities in the first 6 months of the year have improved, and the province's key export industries have gradually recovered. However, some other industries, especially the supporting industry, are still facing difficulties such as the high cost of raw materials and transportation, the export market being very competitive, etc.
The industrial production index is estimated to increase by 5.63% compared to the same period in 2023 (2.65%). Particularly, the processing industry increased by 6.0%; electricity and gas production and distribution decreased by 14.88%; water supply and wastewater and waste treatment increased by 19.81%; the mining industry decreased by 0.88%.
The electricity sector has proactively taken measures to ensure sufficient electricity supply for daily life, production, and business; and promoted the use of electricity economically and efficiently among people and businesses. The work of planning for electricity development, electricity supply, investment management, relocation, compensation, and site clearance related to electricity projects and works, etc. has always been taken care of.
As of May 15, 2024, domestic investment has attracted more than 27,000 billion VND in registered capital (up 12.1% over the same period). As of May 30, 2024, foreign investment has attracted nearly 589 million USD (reaching 64.4% over the same period).
Total retail sales of goods and service revenue is estimated at 166,180 billion VND, up 13% over the same period (same period increased by 12.2%).
Import-export activities remain at a fairly high growth rate compared to the same period last year. Export turnover is estimated to reach nearly 16.3 billion USD, up 10.3% over the same period last year (down 19%); import turnover is estimated to be more than 11.5 billion USD, up 9.9% over the same period last year (down 17%).
In the first 6 years of 2024, the industrial production index is estimated to increase by 5.63% compared to the same period in 2023.
Mr. Nguyen Tran Hieu - Director of Binh Duong Customs Department said that in the first 5 months of 2024, the province's export turnover recovered compared to 2023, i.e., increasing by 11%, although lower than the national growth rate, i.e., 16%. However, compared to other provinces in the Southeast region, Binh Duong has a fairly high growth rate. Its main export industries gradually recovered, such as wood, wood products, textiles, iron, and steel of all kinds.
Mr. Ngo Van Mit - Director of the Provincial Statistics Office estimated that in the last 6 months of 2024, the world situation continues to be unstable with more difficulties and challenges, strongly affecting production, business, import, export, and investment attraction activities. However, the province's socio-economy still has many improvements. Compared to figures from 2021 to the present, the province's economic growth in the first 6 months of the year is quite good. To achieve the growth target of 8% in 2024, the province must grow by 8.5% in the third quarter and recover by 10.7% in the fourth quarter.
Promote disbursement of public investment capital
At the meeting, the Department of Planning and Investment (DPI) reported on the disbursement of public investment capital, orientation, and primary tasks for the last 6 months of 2024.
As of June 17, 2024, the value of public investment capital disbursement in 2024 was 3,766 billion VND, reaching 24.7% of the capital plan assigned by the Prime Minister and 17.1% of the capital plan assigned by the Provincial People's Council (same period reached 12.8%).
Although all levels and sectors have made great efforts, the disbursement rate of the province has not yet reached the expected level. Mr. Lai Xuan Dat – Deputy Director of the DPI said that the disbursement of public investment capital was slow in the first months of the year due to difficulties and problems in mechanisms and policies because of the delay in issuing documents guiding the implementation of the Bidding Law, affecting the implementation of some projects due to the need to adjust documents, forms, etc. according to new regulations.
The leader of DPI reports on the disbursement of public investment capital in the first 6 months of 2024.
In addition, many contents in the Law on Bidding do not have specific instructions, and there are many different interpretations, leading to difficulties in the implementation process. Some conventions of the Law on Public Investment, the guiding Decree, and related Laws are still overlapping, and not specifically stipulated, affecting the implementation and disbursement of public investment capital.
Besides, compensation and site clearance work is still a "bottleneck" affecting project construction progress. The order and procedures for land acquisition, compensation, and resettlement support for projects are lengthy and complicated, and compensation and support policies are not suitable for reality. Coordination in resolving difficulties and problems for investors is sometimes and, in some places, not timely, affecting the project implementation progress. In the first months of the year, some newly started projects need to carry out investment procedures such as designing construction drawings and estimates, contractor selection plans, organizing contractor selection, etc., so there is no volume of implementation for disbursement.
To speed up the disbursement of public investment capital, the PPC requests departments and branches to prioritize and focus resources on public investment, shorten appraisal and approval time; and strengthen coordination with investors and district-level People's Committees to promptly remove difficulties according to their functions and tasks. Regarding cases beyond authority, they must promptly report and propose to competent authorities for consideration and resolution.
They should regularly inspect, monitor, and take strict measures to handle cases of project implementation time extension due to the weak capacity of contractors or consultants. The PPC also requires investors to fully implement and ensure the time of periodic and ad hoc reporting regimes as required by competent authorities to serve the work of advising on public investment planning.
The departments and branches must further strengthen the role and responsibility of leaders of sectors and localities in directing and removing difficulties and obstacles in disbursing public investment capital, especially obstacles related to site clearance, etc.
Mr. Vo Van Minh – Chairman of the PPC concludes the meeting.
Concluding the Meeting, the Chairman of the PPC assessed that the province's socio-economic situation achieved positive results, especially in the fields of domestic budget collection and good domestic investment attraction; and key projects were vigorously implemented.
He pointed out some shortcomings and problems. For example, GRDP growth has not created a strong change, the first quarter increased by 5.27%, the second quarter increased by 6.52% and the first 6 months increased by 6.19% (ranked 5th in the region and 34th in the country). Besides, foreign investment attraction has decreased sharply.
The Chairman of the PPC requested departments, branches, and localities to focus on solutions to organize contact and work directly with each association, enterprise, and project to promptly remove difficulties.
At the same time, there is a need to speed up the expansion of industrial parks and invest in new industrial clusters according to the planning; develop criteria for developing ecological and high-tech industries; complete the policy of relocating enterprises from southern localities to industrial parks and clusters in northern localities of the province.
It is necessary to focus on resolving difficulties, drastically promoting the disbursement of public investment capital. They must also urgently complete the Provincial Planning for the period 2021 - 2030, with a vision to 2050, submit it to the Prime Minister for approval, and organize a Conference to announce the planning.
Besides, they must well implement social security work, and support the material and spiritual life of the people, especially workers in difficult circumstances; effectively implement solutions to develop the labor market, connect labor supply and demand; focus on training new occupations, consulting, introducing jobs for workers to maintain jobs, stabilize production.