On the morning of September 25, the People’s Committee of Nghe An province organized its regular meeting for September 2024. Since the beginning of the year, the province has been carrying out socio-economic development tasks amid a complex and unpredictable global situation. Despite this, the province’s socio-economic situation has generally maintained its growth momentum.
According to a report presented by the Director of the Department of Planning and Investment, Pham Hong Quang, the growth rate of the provincial Gross Regional Domestic Product (GRDP) in the third quarter has seen positive changes and is higher than in the first and second quarters.
Scene from the regular meeting of the Provincial People’s Committee in September 2024 (Photo: Nghe An Provincial Portal)
It is expected that the GRDP growth for the first nine months will reach about 7.5-8%. Specifically, the agriculture sector is estimated to grow by 4-4.2%, the industry-construction sector by 12.5-13.5%, the service sector by 5.8-6.2%, and taxes on products minus product subsidies are expected to increase by 6.7-7.2%. The GRDP growth for the third quarter alone is estimated at about 8.5%.
In terms of agriculture, the total area of annual crops in the first nine months is estimated at 264,821 hectares, equivalent to 99.63% compared to the same period last year. The winter-spring crop in the province reached 184,989 hectares, equivalent to 99.88%, while the preliminary summer-autumn crop reached 79,831 hectares, equivalent to 99%.
The industrial production index (IIP) in September 2024 is estimated to increase by 12.4% over the same period. Accumulated in the first nine months, the IIP is estimated to increase by 10.64%. Specifically, the mining industry increased by 5.98%, the processing and manufacturing industry by 9.97%, the water supply industry, waste treatment activities by 7.03%, and the electricity, gas, hot water, steam, and air conditioning production and distribution industry by 18.56% over the same period. Many industrial products have seen good growth in the first nine months of the year.
Total retail sales of goods in the first nine months are estimated at VND 83,523 billion, up 22.25% compared to the same period in 2023, reaching 89.81% of the plan. Total export turnover is estimated at USD 2,326 million, up 32.01% over the same period, reaching 84.58% of the plan. Total import turnover is estimated at USD 1,690 million, up 73.51% over the same period, reaching 112.67% of the plan.
The expected number of tourists reached 8.43 million, up 15% over the same period, including 5.32 million staying guests, up 14%, and 84,200 international visitors, up 58% over the same period in 2023. Total tourism revenue is estimated at VND 26,244 billion, including tourism revenue of VND 10,217 billion.
State budget revenue in the province in the first nine months of 2024 is estimated at VND 16,671 billion, reaching 104.8% of the estimate, equivalent to 143.2% of the same period in 2023. Local budget expenditure in the first nine months is estimated at VND 24,188 billion, reaching 66.9% of the estimate.
Reporting at the meeting, the Director of the Department of Planning and Investment said that investment attraction activities have achieved positive results. As of September 23, 2024, the province has granted investment registration certificates to two new projects with a total investment of VND 96.34 billion and adjusted seven projects, including two projects with an increased capital of VND 7,191 billion.
Accumulated in the first nine months of the year, the province has granted investment registration certificates to 58 new projects with a total registered investment capital of VND 18,739 billion, lower than in the same period last year. There were 119 adjusted projects, of which 30 projects adjusted their investment capital with a total investment increase of VND 16,802 billion. The total registered and adjusted investment capital was VND 35,541 billion, equivalent to 85.02% over the same period in 2023.
As of September 22, 2024, there were 1,533 newly established enterprises, up 5.8% over the same period in 2023, with a total registered capital of VND 17,306 billion, up 29.69%. There were 625 reactivated enterprises, equivalent to 84.5% compared to the same period.
The total public investment plan, as of September 20, 2024, has disbursed VND 5,022 billion, reaching 54.14% of the plan. In particular, the concentrated provincial investment capital managed by the province has disbursed VND 2,322 billion, reaching 48.09% of the plan. There are eight districts, towns, and cities, and 16 units that are investors (outside the district) with good disbursement (over 60%).
However, businesses still face many difficulties in production and business due to low market demand, competitive pressure, and high production costs. In the first nine months of 2024, the number of reactivated enterprises decreased, and the number of enterprises temporarily ceasing operations and completing dissolution procedures increased compared to the same period in 2023.
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