Reporter: Could you please tell us the results of the three main indicators of the Industry and Trade sector in the first quarter of 2024?
Comrade (Comrade) Duong Duc Dang: Thanks to timely policies of the Government, ministries, central branches and the province, the economy in the first quarter of 2024 achieved positive results. The industrial production situation in the first quarter of enterprises in the province was relatively stable and achieved a good growth rate compared to the same period last year. The IIP index of the whole province in the first quarter increased by 3.32% over the same period last year, of which the mining industry increased by 20.87%; the processing and manufacturing industry increased by 1.32%; the electricity production and distribution industry increased by 95.94%; water supply, waste and wastewater management and treatment activities increased by 4.61%.
Trade and service activities in the province in the first quarter continued to be vibrant, maintaining a high growth rate compared to the same period last year, especially in the accommodation, catering and tourism services sectors. Total retail sales of goods in the first quarter of 2024, the whole province reached over 20,596.7 billion VND, an increase of 33.0% over the same period last year.
Total export turnover in the first quarter is estimated at 761.2 million USD, up 5.9% over the same period and reaching 23.4% of the yearly plan. Total import value in the first quarter is estimated at 712.9 million USD, up 9.3% over the same period and reaching 22.3% of the yearly plan.
Thus, growth was achieved in all three main areas of the Industry and Trade sector including industrial production, import-export and domestic market. This result shows the continuation of the recovery momentum since the end of 2023, contributing positively to the growth of the entire economy in the first quarter of 2024 of the province and creating momentum to complete the economic targets set out in the growth scenario.
PV: Sir, what is the significance of the growth results of the Industry and Trade sector for the recovery of the economy?
Mr. Duong Duc Dang: In order to strive to complete the socio-economic targets approved by the Provincial People's Council, from the beginning of the year, the Department of Industry and Trade has proactively done a good job of researching, forecasting, identifying difficulties and challenges, determining new growth drivers to build growth scenarios for each quarter, as a basis for monitoring and evaluating the socio-economic development situation to promptly adapt to new situations and trends. At the same time, focusing on clearing bottlenecks, investment resources, promptly removing difficulties and obstacles, effectively supporting businesses and people to develop production and business.
Thanks to timely decisions, all three main sectors of the Industry and Trade sector have achieved remarkable results, contributing to the estimated gross regional domestic product (GRDP) in the province in the first quarter of 2024 reaching VND 12,926.91 billion, up 8.02% over the same period last year, exceeding the growth scenario (the proposed scenario is 7.8%). Of which, the two sectors with the main contributions to the province's economic growth rate are industry and services. In particular, the service sector continued to achieve double-digit growth, estimated at VND 5,276.77 billion, up 10.16% over the same period last year, affirming its role as a new driving force of the economy.
In addition, the industrial sector also reached 3,311.87 billion VND, up 8.95% over the same period. This has affirmed the management and operation policies of the Government, the Prime Minister, ministries and branches; the Resolutions of the Provincial Party Committee, the Provincial People's Council, the Plan and the directive documents of the Provincial People's Committee have gradually promoted their effectiveness, ensuring close adherence to the growth scenario set out by the province.
In addition to the effectiveness of the Government's and the province's support measures in assisting enterprises to stabilize production and business, the reasons for achieving growth results in all three areas of industry, export and trade of the Industry and Trade sector can be mentioned as: The results of attracting and disbursing increased non-state investment capital in recent times have helped improve the production capacity of enterprises; the recovery of the world market has gradually shifted to a new state, adapting to major fluctuations in 2022 and 2023; the number of new export orders has increased; efforts in diversifying export markets, especially upgrading relations with our country's major trade partners such as the US, China, Japan, etc. have strengthened investors' confidence.
In addition, we acknowledge the great efforts of businesses, especially those in the processing and export industries.
Reporter: Sir, in 2024, according to forecasts, the economy will still face many difficulties and challenges. So, to achieve the growth target set in all three main areas, what solutions will the Industry and Trade sector have?
Mr. Duong Duc Dang: From the results of the first quarter, it can be seen that there are signs of "smooth sailing" for the whole year. This will create momentum for 2024, a breakthrough year to complete the 5-year economic development plan 2021-2025. However, in the context of many forecast difficulties and challenges, the export market has not really been opened up. Striving to achieve the set goals in 2024 is a rather difficult task that requires close direction from the Government, central ministries, branches, the Provincial Party Committee, the People's Council, the Provincial People's Committee; the joint efforts of branches and levels in the province and the persistent efforts of businesses.
Particularly for the Industry and Trade sector, it will step up advising the Provincial People's Committee to issue a project "Developing high-tech, environmentally friendly industries based on the capacity to connect foreign enterprises with domestic enterprises, synchronizing industrial, service and urban development".
Strengthen monitoring, regularly update information, progress, difficulties and obstacles in implementing secondary projects in industrial clusters. Proactively work with secondary investors and infrastructure investors to clarify objective and subjective causes, propose specific solutions and report to the Provincial People's Committee on handling measures.
Strengthen investment promotion, focusing on key industrial sectors and fields according to the province's investment attraction orientation, such as investment projects in the production and assembly of automobiles, electronics and auxiliary products for the production and assembly of automobiles, electronics, and processing of agricultural products and food, etc.
Advise on good work of electricity supply, electricity saving, electrical safety... to ensure good response to production needs, people's daily life, and political events of the province.
Effectively implement trade promotion programs, connecting supply and demand; concentrated promotion programs in 2024 in the province; organize many trade connection programs, create linkage chains, bring Vietnamese goods to consumers, support businesses to stabilize production, contribute to promoting economic growth.
Develop and register the National E-commerce Development Project 2025 to send to the Department of Trade and Digital Economy, Ministry of Industry and Trade. Guide units to develop projects to build e-commerce websites to sell products and participate in global e-commerce trading floors. Organize training conferences to improve knowledge about Logistics for state management officials of departments, branches and enterprises in the province.
With unpredictable fluctuations in the world and domestic situation, 3/4 of the way through the year, the Department of Industry and Trade will continue to be determined, persistent, and steadfast with the proposed solutions to achieve the highest economic growth target set for 2024.
PV: Thank you very much, comrade!
Nguyen Thom (performed)
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