Trade is the bright spot
In 2024, the retail industry of goods and services will grow rapidly, business activities and goods circulation will be smooth. Planning and investment in developing commercial infrastructure associated with new rural construction will facilitate trade, contributing to ensuring the ability to link supply and demand of goods.
In addition, the Provincial People's Committee has directed departments and branches to advise on developing plans and organizing trade promotion activities to support enterprises and collective economic organizations to boost consumption of the province's key products. Thereby contributing to promoting the image, introducing investment opportunities, and potential for economic cooperation and development of the province to domestic and foreign enterprises.
The implementation of the adjustment to increase the basic salary, the policy to stimulate consumption, and the strong growth of tourism have positively contributed to the growth of the trade and service sector in the past year.
In 2024, total retail sales of goods and service revenue will reach VND 60,771 billion, an increase of 10.14% compared to 2023.
In particular, in 2024, for the first time, the province will have L'amant Café product of Vinh Hiep Company Limited become a national brand. This is an award for pioneering enterprises in the economic field, playing a leading role in the green development trend, contributing to creating a prosperous, sustainable and happy Vietnam in the future.
Also in 2024, Vinh Hiep Company Limited's coffee export activities rose to the No. 1 position in Vietnam's coffee industry, accounting for about 10% of the country's total coffee export turnover, accounting for 80% of Gia Lai's coffee export turnover and accounting for 63% of the province's total export turnover.
In 2024, the province's export turnover will reach 820 million USD (109.3% of the plan, up 20.58% compared to 2023). The key industry has a strong breakthrough due to many favorable factors, in which, the record high export price of coffee has pushed up the turnover, the coffee industry alone has reached 620 million USD (up 26.53% in value).
Export activities have continuously grown in scale, export products have been increasingly improved in both quality and quantity; agricultural products such as coffee, rubber, cassava chips, pepper, wood products... have been present in the markets of nearly 60 countries around the world.
Cultivation of key crops according to standards, linked to traceability to create transparency for products, meeting the requirements of importing countries. Currently, the export market to Europe accounts for about 60%, Asia about 30%, the rest are other markets.
Industry maintains growth momentum
The industrial structure has shifted positively towards modernization, high technology application, increased added value and sustainable development. The industrial production index (IIP) increased by 2.9% compared to 2023.
Of which, the mining industry increased by 18.4%; the processing and manufacturing industry increased by 3.5%; the production and distribution of electricity, gas, hot water, steam and air conditioning increased by 2.1%; and the water supply, waste and wastewater management and treatment increased by 2.4%.
Many of the province's main industrial products achieved and exceeded the plan, such as refined sugar processing, tea, granite, biofertilizer, milk processing, etc.
The processing and manufacturing industry accounts for 65% of the total industrial production value, becoming the driving force for growth, playing a leading role, creating the largest added value for the industrial sector, and having a spillover effect on the quality and stability of the province's economic growth.
Gia Lai has the second largest natural area in the country, more than 837,643 hectares of fertile land for agricultural production, suitable for growing many crops with high economic value such as: coffee, pepper, fruit trees, sugarcane, tea... This is the basis for the province to build a large-scale concentrated raw material area to serve the processing and export industry.
The province has planned 31 industrial clusters with an area of over 1,942 hectares. The province has established 14 industrial clusters with an area of 541.53 hectares. The industrial clusters have attracted 73 investment projects and registered investment with an area of 125.49 hectares, with a total registered investment capital of over 2,852 billion VND.
Up to now, 61 projects have been granted investment policy decisions, are being invested and put into operation with an area of 94.47 hectares, investment capital of more than 2,332 billion VND, the projects put into operation have annual revenue of more than 1,295 billion VND, attracting more than 1,000 workers.
Recently, the Department of Industry and Trade has completed the planning documents for industrial cluster development integrated into the provincial planning and the plan to implement the provincial planning.
One area that has made a major contribution to the province’s industrial development is renewable energy. The province is aiming to maximize investment resources as well as exploit potentials to exploit clean energy sources and minimize environmental pollution.
The province currently has 86 renewable energy projects in planning with a total capacity of 4,684.69 MW; 3,250.69 MW have been invested in construction and put into operation, of which 2,251.69 MW is hydropower, 61 MW is solar power, 808.4 MW is wind power, and 129.6 MW is biomass power.
According to the plan to implement the National Power Development Plan for the 2021-2030 period, with a vision to 2050 (Power Plan VIII), the province is allocated an additional capacity of 1,735 MW in the 2021-2030 period.
The total electricity output from renewable energy reached about 12 billion kWh/year. This shows that the planning, investment in construction and putting into operation of renewable energy projects have effectively exploited development potential, promoted land resources; contributed to increasing budget revenue, shifting economic structure, developing socio-economy and tourism; at the same time, contributed to ensuring energy security, meeting the growing demand for electricity load of the province in particular and the whole country in general.
Solutions to promote growth
Identifying 2025 as having a particularly important significance, being the final year of implementing the Resolution of the 16th Provincial Party Congress (term 2020-2025), the Industry and Trade sector continues to propose many synchronous solutions for rapid and sustainable development such as: effectively implementing projects to restructure the Industry and Trade sector towards improving quality, productivity, and efficiency, contributing positively to the restructuring and economic growth of the province; focusing on developing a plan to implement the provincial industrial cluster development plan for the period 2021-2030, with a vision to 2050.
Along with that, focus on handling and removing "bottlenecks" in the management and development of industrial clusters, especially the issues of land acquisition, compensation, site clearance, establishment and approval of detailed planning of industrial clusters; create favorable conditions, promote investment attraction in industrial processing projects, focus on deep processing of key agricultural products of the province such as: rubber, coffee, pepper, noodles, fruits...
Coordinate with central ministries and branches to develop and perfect mechanisms, policies, development plans and improve the effectiveness and efficiency of developing renewable energy projects, in conjunction with local socio-economic planning. Focus on handling, removing difficulties, supporting businesses and investors to implement energy projects in the province.
In the field of trade, strengthen measures to ensure the supply of goods and services and stabilize market prices. Continue to implement long-term plans, programs and projects in the field of trade approved by the Provincial People's Committee.
Promote the implementation of domestic market trade promotion programs; activities in response to the campaign "Vietnamese people prioritize using Vietnamese goods"; connect and participate in events and conferences organized by the Ministry of Industry and Trade and provinces.
Attract and mobilize investment resources to develop commercial infrastructure such as agricultural wholesale markets, rural markets, develop night-time economy, develop logistics services...
Develop e-commerce to become an important distribution channel, contributing to the development of supply chains and circulation of goods. Strengthen trade promotion, seek partners, expand export markets; focus on countries participating in free trade agreements: CPTTP, EVFTA, UKVFTA, RCEP...
Improve the effectiveness of information and propaganda work on key export markets and prices of key export products of the province.
It is forecasted that in 2025, the indicators of the Industry and Trade sector will continue to grow based on factors such as a number of new wind power and hydropower projects being put into operation and promoting efficiency; e-commerce continues to grow strongly; people's shopping and consumption needs increase; and export markets expand.
Accordingly, the Industry and Trade sector strives for an industrial production index increase of 4.8% compared to 2024; total retail sales of goods and service revenue under normal conditions reaching VND 66,500 billion; export turnover reaching USD 850 million; import turnover reaching USD 120 million.
Source: https://gialai.gov.vn/tin-tuc/tao-da-cho-cong-thuong-nghiep-tang-truong-vung-chac.81529.aspx
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