Industrial production index (excluding oil and gas) increased by 18.06%, the highest level in Ba Ria – Vung Tau during 2020-2024 (Photo: VGP/Ngoc Tan)
On September 12, Mr. Nguyen Van Tho, Chairman of the People’s Committee of Ba Ria-Vung Tau province, chaired the regular meeting of the Provincial People’s Committee in August. The meeting aimed to evaluate the socio-economic, defense and security situation in the first eight months of 2024 and deploy some key tasks in the last months of the year.
At the meeting, Mr. Le Ngoc Linh, Director of the Department of Planning and Investment of Ba Ria-Vung Tau, informed that in the first eight months of 2024, the socio-economic situation of the province had positive changes.
Accordingly, 11/13 economic and financial indicators grew compared to the same period and higher than the plan for 2024. Some indicators have high growth rates: Industrial production value (excluding oil and gas) increased by 14.2%. Notably, the industrial production index (excluding oil and gas) increased by 18.06%, the highest level in the 2020-2024 period.
Mr. Nguyen Van Tho, Chairman of the Provincial People’s Committee, directs at the meeting – Photo: Ba Ria-Vung Tau Newspaper
Total retail sales of goods increased by 13.27%; revenue from accommodation services increased by 17.67%; revenue from tour operation services increased by 34.42%; revenue from transport, warehouse and supporting transport services increased by 12.01%; export turnover (excluding oil and gas) increased by 7.02%; import turnover increased by 8.12%; total budget revenue reached VND 63,893 billion, equaling 72.11% of the estimate; up 10.58% over the same period.
Total investment capital increased by 10.97% over the same period, of which budget investment capital increased by 37.78%; enterprise investment capital increased by 4.32%…
On the other hand, there are still some shortcomings and limitations in the first eight months. Specifically, total budget expenditure was about VND 16,884 billion, up 20.49%, but only reaching 45.45% of the estimate (the Resolution for the whole year is VND 32,732.29 billion). The main reason is the obstacles in site clearance compensation for public investment projects, leading to investment development expenditure reaching only 52.1% of the plan.
The disbursement rate of public investment capital is higher than in the same period, reaching 48.34% of the plan (compared to 47.95% in the first eight months of 2023). However, out of 24 newly started projects, only nine have been started, and 15 have not been started yet.
To complete the set plan, in the last months of the year, Ba Ria-Vung Tau province will focus on some tasks: Submitting to the Provincial People’s Council for allocation of the remaining capital (VND 994 billion) to projects with sufficient procedures and adjusting capital from low-disbursed projects to high-disbursed projects with capital demand. At the same time, regularly review and promptly submit to the competent authorities for approval to adjust capital between projects within the internal investors from low-disbursed projects to high-disbursed projects with capital demand to increase the disbursement rate.
Speaking at the meeting, Mr. Nguyen Van Tho, Chairman of the People’s Committee of Ba Ria-Vung Tau province, requested the departments, branches, and localities to review the tasks that are still slow, identify the limitations, and have solutions and plans to overcome them.
At the same time, the branches and localities should continue to review and adjust the planning of the industry, field, and locality to ensure conformity and synchronization with the provincial planning. At the same time, synchronously and drastically deploy solutions to remove difficulties and quickly disburse public investment capital.
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