Economic growth rate tops the country, industrial production continues to be the main driving force

According to the report on the implementation of the 2024 socio-economic development plan of Bac Giang province, the economic growth rate ranks first in the country, estimated at 13.85%.

Industrial production continues to assert itself as the main driving force

On the morning of December 6, information from the People's Committee of Bac Giang province said that according to the report on the implementation of the socio-economic development plan for 2024, Bac Giang province has achieved many important results in many fields, many key indicators are higher than the national average.

The economic growth rate (GRDP) of Bac Giang province for the whole year is estimated at 13.85% (nearly 2 times the national average), ranking first in the country. 15/18 main targets were completed and exceeded the plan, of which 8 targets met the plan and 7 targets exceeded the plan, 3 targets were not completed.

The quality of economic growth continued to improve, social labor productivity increased by 13.5%, reaching 100% of the plan. The scale of GRDP continued to expand, reaching 207 trillion VND (leading the Northern Midlands and Mountains region). GRDP per capita reached 4,370 USD, up 10.6%, equal to 97.1% of the plan. The economic structure shifted in a positive direction.

Industrial production continued to affirm itself as the main driving force for economic growth (contributing over 85% of the province's overall growth). The production index (IIP) for the whole year increased by 30.0%. Production value reached 705,227 billion VND, exceeding the plan by 5.9%. The industrial structure shifted in the right direction with the leading role coming from the processing and manufacturing industry (accounting for 98.5% of the province's industrial production value).

The total state budget revenue achieved outstanding results, estimated at over VND19,130 ​​billion for the whole year, exceeding the central government's estimate by 22.2%. 15/16 domestic revenue items exceeded the estimate, of which revenue from foreign-invested enterprises reached over VND2,915 billion, exceeding 32.9%; 9/10 districts and cities exceeded the annual estimate.

The management of public investment capital plans was carried out seriously and resolutely; investment efficiency was improved. The total disbursement value for the year was estimated at over VND9,180 billion, equal to 97.8% of the plan.

The work of improving the investment and business environment has been focused on, the Provincial Competitiveness Index (PCI) in 2023 ranked 4th out of 63 provinces and cities. Investment attraction has achieved good results. To date, the whole province of Bac Giang has attracted over 2.04 billion USD of converted investment capital, equal to 75% of the same period. In terms of attracting foreign direct investment (FDI), Bac Giang ranked 9th out of 63 provinces and cities.

Infrastructure development continues to be focused on and has achieved many results. The transport network continues to be strongly invested in and developed in a synchronous and modern direction, increasing connectivity and development linkages, and has completed 7 key transport projects.

Industrial production continues to affirm itself as the main driving force for economic growth, contributing over 85% of the overall growth of Bac Giang province. Photo: Duong Thuy

Investment in infrastructure construction of industrial parks and industrial clusters has received special attention. During the year, the Prime Minister approved the investment policy for 3 new industrial parks and 2 expanded industrial parks, bringing the total number of industrial parks to 11 with an area of ​​2,720.72 hectares.

The quality of education and health care is maintained, especially key education with many high achievements in national and international competitions for excellent students; social security is ensured, especially the program "Eliminating temporary and dilapidated houses" has been completed according to plan...

The work of reorganizing administrative units has been implemented drastically and effectively, receiving the consensus of the people. The work of inspection, examination, citizen reception and complaint and denunciation settlement has been focused. Political security and social order and safety have been ensured; the movement of All People Protecting National Security has had many positive changes.

The highest determination

However, according to the People's Committee of Bac Giang province, there are still some shortcomings, limitations, difficulties and challenges in the implementation process. In particular, the economic growth rate did not reach the set target. Although the economy grew strongly, it was not sustainable.

Industrial production faces many difficulties and challenges. Public investment is still slow in all stages and implementation processes, disbursement faces many difficulties and is slow to be overcome.

Agricultural production has suffered serious and heavy damage, reducing agricultural output as well as farmers' income and the industry's 2024 growth target. The arrangement and handling of surplus public assets in most units and localities is still slow. The progress of investment in building centralized waste treatment plants is very slow.

In the remaining time of 2024, Bac Giang province will continue to focus on leading and directing the acceleration of the implementation of tasks, determined to strive to achieve the highest targets and tasks set for 2024. On the basis of the Resolutions, programs and plans for 2025 approved by the Provincial Party Committee, People's Council and People's Committee of Bac Giang province, promptly develop and issue resolutions, programs, plans and resolutions of the sector and locality to concretize the implementation to ensure closeness to the requirements of tasks and practical situation, with the highest determination, setting the target that the results of the following year must be equal to or higher than the previous year.

Source: https://congthuong.vn/bac-giang-toc-do-tang-truong-kinh-te-dung-dau-ca-nuoc-san-xuat-cong-nghiep-tuc-la-dong-luc-chinh-362839.html