The Thanh Hoa Provincial People’s Committee recently held its regular meeting for April 2024. According to information from the meeting, the province’s economy continues to develop, with many sectors showing significant growth compared to the same period last year. Notably, agricultural production remained stable and comprehensive, while fishery output increased by 1.9%.
The Industrial Production Index (IIP) for the province in April is estimated to have increased by 10.26%, with 20 out of 25 key industrial products showing an increase in output compared to the same period last year. Some of Thanh Hoa’s products that have seen a strong increase include: Paraffin wax (up 86.9%), benzene (60.3%), solid sulfur (60.6%), paper and cardboard of all kinds (32.5%), fuel oil (29%), cement clinker (24.7%), and sports shoes (9.2%). The total retail sales of goods and revenue from some service sectors in Thanh Hoa in April are estimated to have reached 15,599 billion VND, an increase of 15.2% compared to the same period last year.
BUDGET REVENUE EXCEEDS 18,000 BILLION VND
Thanh Hoa’s import and export activities continued to increase strongly in April; export value is estimated to have reached 545.6 million USD, up 15.8%; import value is estimated to have reached 965.5 million USD, up 23.4%.
The province’s tourism industry is recovering strongly, with the total number of tourists in April estimated to have reached 2.3 million, including approximately 24,300 international visitors, an increase of 18.9% compared to the same period last year. Total tourism revenue in April is estimated to have reached 3,715 billion VND, an increase of 32.7%.
Other economic sectors in the province also experienced slight growth, such as freight transport, which increased by 12.4%, passenger transport, which increased by 12.7%, and transportation revenue, which increased by 13.3%; the number of newly established enterprises increased by 14.7%.
According to the report of the Thanh Hoa Provincial People’s Committee, the province’s state budget revenue in April is estimated to have reached 3,551 billion VND, equal to 83% compared to the same period last year. In the first four months of 2024, Thanh Hoa’s budget revenue is estimated to have reached 18,214 billion VND, equal to 51% of the estimate and an increase of 26% compared to the same period last year. In 2024, the province strives to achieve a budget revenue of 35,567 billion VND, including 22,070 billion VND from domestic revenue and 13,550 billion VND from import-export activities.
In April 2024, Thanh Hoa attracted eight foreign direct investment projects, including four FDI projects, with a total registered capital of 126.6 billion VND and 115 million USD. In the first four months of this year, the province has attracted 38 projects, including 10 FDI projects. With the number of projects doubled compared to the same period last year, the total registered capital is approximately 3,666 billion VND and 177 million USD.
Speaking at the meeting, Mr. Nguyen Van Thi, Standing Vice Chairman of Thanh Hoa Provincial People’s Committee, noted that the sectors should pay special attention to, focus on removing difficulties, and support two key products that are Thanh Hoa’s “brands”: steel and sugar, and to remove difficulties for newly launched projects. Regarding budget revenue collection, this is a very positive effort by the Tax sector and other sectors. To collect even more revenue in the future, it is necessary to focus on multiple solutions, such as collecting taxes from land use fees.
PREPARING TO START MANY LARGE PROJECTS
In addition to the achieved results, Thanh Hoa’s economic situation in April 2024 also faces some difficulties and limitations. Specifically, four out of 25 key industrial products experienced a decrease in output compared to the same period last year, including: refined soybean oil, all kinds of beer, all kinds of fertilizers, and trucks. The operations of some businesses are still facing difficulties.
At the meeting, Mr. Do Minh Tuan, Chairman of Thanh Hoa Provincial People’s Committee, also pointed out several shortcomings and limitations, such as: the work of advising and resolving tasks being rigid and mechanical; in some sectors and localities, there is still a lack of close coordination with the locality and assigned tasks, which limits the detection and handling of emerging tasks.
In order to implement economic development solutions for the province in the coming period, the Chairman of Thanh Hoa Provincial People’s Committee assigned the Department of Planning and Investment to advise and submit to the Provincial People’s Committee a dispatch on disbursement of public investment capital. To prepare well the conditions for starting the construction of the following projects: Duc Giang Chemicals, Lam Son Sao Vang Industrial Zone, Industrial Zone No. 3, proposals from Savico Group, WHA’s projects, etc.
Mr. Tuan assigned the Department of Industry and Trade and Thanh Hoa Electricity to take the initiative in grasping the situation and advising on solutions to difficulties and problems in the implementation of key power transmission projects in the province; especially the 500kV transmission line project, circuit 3 from Quang Trach (Quang Binh) to Pho Noi (Hung Yen); the 220kV transmission line project Nam Sum (Laos) – Nong Cong and to ensure a stable power supply for daily life and business production, especially in key tourist coastal areas.
