Invest in development – reap success

Attention to key projects

One issue that many provinces and cities across the country have recently mentioned is the difficulty in disbursing low public investment capital. Therefore, the Government has directed that if any ministry or locality is slow in disbursing public investment, capital will be transferred, as a warning, forcing leaders of all places to take stronger action in disbursing public investment capital. For Binh Thuan, from the beginning of 2023, the province will continue to direct and operate tasks such as creating favorable conditions to accelerate the progress and officially open the two sections of the North-South expressway in the East, Phan Thiet - Dau Giay, Vinh Hao - Phan Thiet; urging to accelerate the progress of projects and works of great significance to the socio-economic development of the province. As of May 31, 2023, the disbursed public investment capital in 2023 reached VND 1,292,011 million (26.54% of the plan), of which: provincial budget capital was VND 660,743 million, reaching 21.78% of the plan; central budget support capital was VND 631,268 million, reaching 37.12% of the plan; foreign capital (ODA) has not been disbursed.

Paper production in Industrial Park

In the first half of the year, Binh Thuan continued to improve the effectiveness of investment promotion activities, increasing the attraction of strategic investors, enterprises, and large corporations to invest in the province as a lever to promote local economic development. The evidence is that many corporations, general companies, enterprises, and embassies of countries have visited and explored investment opportunities in the province. This is a positive signal for the province's economy in the coming time, when traffic bottlenecks have been resolved. Since then, investors have come to learn and sign memorandums of understanding on cooperation agreements with Binh Thuan in many fields: industry, agriculture, and tourism. In addition, the province has promoted investment promotion and attracted secondary investment projects in industrial parks and clusters; creating conditions for investors to soon complete investment preparation, compensation and site clearance, promptly remove difficulties and obstacles to deploy investment and construction of industrial parks: Son My 1, Son My 2, Tan Duc. In addition, the province has urged investors to invest in completing the infrastructure of industrial parks; the value of investment in industrial cluster infrastructure reached 52 billion VND. Up to now, there are 47 power plants in operation in the area generating electricity with a total capacity of 6,523.21 MW.

Vinh Hao - Phan Thiet Expressway has just been inaugurated.

Improve investment environment, support businesses

Regarding attracting non-budgetary investment capital, in the first 6 months of 2023, the province had 13 projects granted investment approval decisions with a total registered capital of VND 642.63 billion; 13 projects registered for adjustment, with a total adjusted capital increase of VND 5,803.04 billion; 2 projects put into operation. Regularly review and remove difficulties and obstacles for non-budgetary projects to promote implementation progress; at the same time, 2 projects with slow implementation have been revoked according to regulations.

Supporting businesses, improving the investment environment (in photo: transaction at the bank)

Another new move is that the province resolutely terminates investment activities according to the law for projects that are not implemented, are slow to implement or are not implemented for the right purposes and objectives of the project, causing waste of land resources. At the same time, it will effectively implement policies to support enterprises and cooperatives investing in rural agriculture and solutions to improve the investment and business environment, and enhance competitiveness in the province. Regularly review and adjust inspection and examination plans to ensure that there are no duplications or overlaps that affect business operations.

Wind power project in Binh Thuan

The number of newly registered enterprises was 293, down 21.24% over the same period in 2022; the newly registered capital was 3,342.67 billion VND. 250 enterprises announced temporary suspension of business operations, up 16.28% over the same period. The number of enterprises completing dissolution procedures and ceasing production and business activities was 47, down 6% over the same period. The number of enterprises returning to operation was 104.

Road DT 719B

Regarding the economic development task in the remaining half of the year, the province determined to accelerate the progress of projects that have started construction such as: Van Thanh Bridge; Son My 1 Industrial Park, soon approve the policy of building Ca Ty embankment and Ca Ty river embankment (from Duc Thanh Bridge to Ung Van Khiem Street); start construction of Ca Ty river apartment building, accelerate the progress of DT 718B road, Ham Kiem - Tien Thanh road, inter-district road along the main canal through Ham Thuan Bac, Bac Binh, Tuy Phong districts, infrastructure of industrial parks in the province; complete the project documents of Ka Pet lake, La Nga 3 lake to have a basis for implementing the next steps.

Hopefully, with the improvement in economic development from the first quarter and the first half of the year, and with clear direction in the direction and administration of the Provincial Party Committee and Provincial People's Committee, Binh Thuan's growth rate will continue to increase in the second half of 2023.

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