Socioeconomic Targets Achieved and Exceeded

With the flexible management adopted by the Vinh Phuc Provincial People’s Committee to proactively introduce measures to cope with difficulties and challenges, especially to accompany businesses and entrepreneurs and open up resources for growth, in 2019, the province's socioeconomic development outperformed in all 13 targets.

The province’s economic growth recorded at 8.05%, higher than the assigned plan, highest since the start of this administration term. Total budget revenue was estimated at over VND32 trillion, 16.8% higher than the estimate. Foreign economic activity and investment promotion were boosted, with FDI value expanding 27.2% and DDI fund growing 154.2%.

Cultural and social fields were invested and developed. So far, all communes have met new countryside standards. Political security and social order and safety were maintained to create an important foundation for fulfilling socioeconomic development objectives and tasks in 2020 and the 2016-2020 period.

In 2020, Vinh Phuc will continue to exploit, manage and effectively use resources to create a favorable investment environment for business development. The province will strive to achieve a GDP growth of 8-8.5%, fetch total budget revenue of VND33,500 billion, including VND29,350 billion of domestic revenue; draw US$550 million of FDI capital and VND5,500 billion of DDI capital; create 22,000 new jobs; and reduce poverty rate to less than 1%.

N.T (Vietnam Business Forum)