Vinh Long steps up socio-economic development

In Vinh Long (Photo: VNA)

Vinh Long – The Mekong Delta province of Vinh Long is taking synchronous measures to fight COVID-19 pandemic and step up socio-economic development, said Chairman of the provincial People’s Committee Lu Quang Ngoi.

Accordingly, the provincial authorities asked the Department of Industry and Trade to effectively launch programmes to stimulate domestic consumption, expand domestic markets and support businesses.

The provincial Department of Agriculture and Rural Development was required to seek markets for farm produce to achieve growth and export targets this year.

The department directed the provincial Department of Planning and Investment tackle to difficulties regarding investment procedures and step up disbursement of public investment capital, especially for projects using State budget and key construction works.

The provincial branch of the State Bank of Vietnam was assigned to direct credit organisations to create favourable conditions for businesses and people to access loans at preferential rates, and offer suitable credit products to enterprises.

The province is also hastening administrative reform, improving investment and business environment to save costs for residents and businesses, and creating favourable conditions for investors, experts, corporate executives and highly skilled workers to enter the locality.

In eight months of this year, the total local State budget revenue surpassed 5.84 trillion VND (253 million USD), or 81.6 percent of the yearly estimate, up 22.2 percent year-on-year. The total retail of goods and services topped 36.1 trillion VND, up 1.98 percent annually, while the total infrastructure investment hit more than 1.28 trillion VND, or 35.3 percent of the plan, of which over 1 trillion VND was disbursed, equivalent to 30.2 percent.

Due to the impacts of COVID-19, several economic targets dropped from 2019, including exports down 5.2 percent to 344.5 million USD, tourist arrivals down 42.3 percent with 407,000, and local industrial index falling 4.3 percent.