Driving force to realize economic growth target

In the first two months of the year, the world and domestic economies still faced many difficulties, significantly affecting production, business and investment activities in Phu Tho province. However, with the proactive and drastic leadership, direction and management of the Provincial Party Committee, People's Council and People's Committee; the active participation of the entire political system together with the efforts of the business community and the people, the province's economy continued to grow impressively, creating momentum to exceed the annual growth target.

Sewing export clothes at PEARL Vietnam Garment Joint Stock Company.

Positive signal

Closely following the actual situation and seriously implementing the direction of the Central Government, the Provincial Party Committee, the Provincial People's Council and the Provincial People's Committee focus on leading, directing the implementation and concretizing the tasks and solutions for socio-economic development for effective implementation.

Implementing the province's breakthrough, the business investment environment continues to improve. The province has actively mobilized resources for development investment; in the first two months of the year, the total investment capital implemented from the State budget managed by the locality is estimated at 784 billion VND, up 8.2% over the same period. Attracting 2 new domestic projects, with registered capital of 73.6 billion VND, 4 projects with additional capital of 214.5 billion VND; 4 FDI projects with registered capital of over 3.9 million USD, 1 project with additional capital of 2.8 million USD. The implementation of the public investment capital plan has been focused on since the beginning of the year. The total allocated capital by the end of February was over 2,787 billion VND, reaching 101.7% of the plan. The value of disbursed public investment capital by the end of February reached over 738 billion VND, equal to 26.5%.

In the agricultural production sector, the productivity and output of some crops are quite good; the livestock and aquaculture sectors have developed stably. The new rural development program and the One Commune One Product (OCOP) program continue to be actively implemented. The whole province has 6 district-level units meeting the standards/completing the task of building new rural areas, 143 communes meeting the new rural standards, and 22 advanced new rural communes.

Industrial production increased sharply; the industrial production index increased by 47.3% over the same period, of which the processing and manufacturing industry increased by 48.5%. Trade and service activities developed steadily; total retail sales of goods and consumer service revenue reached VND 8,700 billion, up 11.5% over the same period. Tourism activities improved, with revenue from accommodation and food services estimated at VND 1,109 billion, up 23.4% over the same period, welcoming more than 760,000 visitors.

Import and export activities are a bright spot in the economic picture; export value reached over 2.1 billion USD, up 8.5% over the same period; import is estimated at nearly 3 billion USD, up 48.5% over the same period. Total state budget revenue in the area in the first two months of the year is estimated at 1,931 billion VND, up 19% over the same period; of which, domestic revenue reached 1,785 billion VND, up 19% over the same period; revenue from import and export activities reached 116 billion VND, equal to 97% over the same period.

Urgently construct the road connecting Noi Bai - Lao Cai Expressway with Tuyen Quang - Phu Tho Expressway.

Efforts to achieve goals

Implementing Resolution No. 25/NQ-CP dated February 5, 2025 of the Government on growth targets for sectors, fields and localities to ensure the national growth target in 2025 reaches 8% or more, in which the growth target for Phu Tho province is assigned to reach 8% or more; Phu Tho Provincial People's Committee has directed the review of new resources, driving forces and capacities for growth, and the development of growth scenarios for each quarter, 6 months, 9 months and the whole year of 2025.

The review results show that the province's growth target of 8% or more is well-founded and highly feasible. New driving forces, capacities, and growth potential come from newly effective policies; institutions, policies, and bottlenecks are actively removed; growth drivers in the first two months of the year show positive signs. On that basis, the Provincial People's Committee reported to the Provincial Party Committee and the Provincial People's Council to pass a Resolution on adjusting the growth target for 2025 to 8% or more.

Despite positive growth, production, business and investment attraction activities are still facing difficulties in general; industrial growth mainly depends on the contribution of new capacity from the FDI sector. The demand for labor recruitment of some enterprises in industrial parks is large, while human resources are limited, leading to times when enterprises still have difficulties in recruiting labor. The implementation of investment and construction projects also faces many difficulties in compensation and site clearance; implementation of investment procedures for resettlement areas; costs of raw materials, etc., which significantly affect investment as well as the progress of implementation and disbursement of projects.

To effectively implement the economic development tasks in 2025, according to comrade Bui Van Quang - Deputy Secretary of the Provincial Party Committee, Chairman of the Provincial People's Committee, in the coming time, the province will focus on directing the review, supplementation, and timely concretization of contents under its authority related to the implementation of legal provisions (Land Law, Housing Law, Real Estate Business Law, Amended Law on Public Asset Management, Amended Law on Public Investment, Amended Investment Law;...).

Continue to strongly improve the investment and business environment; create an open and attractive investment and business environment. Effectively mobilize private resources, foreign investment, and resources in the population to promote investment in production and business development. Focus on directing the synchronous implementation of support solutions, removing difficulties, promoting growth, production and business; promptly and effectively deploy support policies on tax and credit.

Actively work with strategic investors to attract FDI projects; support investment procedures, hand over land for ongoing projects to complete and put into operation soon; promote trade promotion, develop e-commerce, provide information on export markets; strengthen linkages in tourism development, improve the quality of tourism products.

Speed ​​up the completion of key projects in the province. Resolutely, synchronously and effectively implement tasks and solutions for collecting the State budget; ensure correct, full and timely collection of revenues according to regulations, revenues arising from e-commerce transactions, business on digital platforms...

Effectively implement credit policies and programs, focusing capital on priority areas and growth drivers. Focus on implementing and issuing documents to specify Resolution No. 57-NQ/TW, dated December 22, 2024 of the Politburo on breakthroughs in science, technology, innovation and national digital transformation.

Trinh Ha

Source: https://baophutho.vn/dong-luc-de-hien-thuc-hoa-muc-tieu-tang-truong-kinh-te-229897.htm