Kien Giang Surmounting Difficulties, Accomplishing Dual Goals of "Pandemic Containment, Economic Development"

With the focused direction of the Provincial Party Committee, the administration of the Provincial People's Committee and the drastic engagement of all levels, branches, businesses and people, Kien Giang province gained significant achievements in the socioeconomic performance in the first months of 2022. All sectors and fields have recovered and entered a steady growth trajectory.  These achievements come from the fact that Kien Giang has effectively followed the Government’s directions of successfully containing the COVID-19 pandemic and restoring manufacturing and business activity as well as taking care of people's lives to lay a solid foundation for the next development steps of the province.

Many bright spots in socioeconomic development

Kien Giang carried out socio-economic development tasks in a relatively favorable context in the first 6 months of 2022 as the COVID-19 pandemic was controlled. With the firm leadership of the Provincial Party Committee and the Provincial People's Committee, the deployment of the Government's Resolution 11/NQ-CP dated January 30, 2022 on the Socioeconomic Recovery and Development Program has produced very positive results. The province’s GRDP growth was estimated at 4.42% (compared to 3.54% in the same six-month period of 2021), with agriculture - forestry - fishery rising by 0.79%, industry and construction by 8.99%, trade and service by 6.15%, and product tax by 4.6%.

Besides, Kien Giang province's economic bright spots in the first six months of this year included industrial production whose production value was estimated at VND25,743.77 billion, up 13.65% year on year. Most business units and industrial zones restored normal production. Major industrial products were expanded, including leather shoes which grew by 108.97%, packaging that rose by 63.91%, frozen shrimp that surged by 37.20%, MDF wood that looked up 23.22%, and rock production that expanded by 15.05%. The export value was estimated at US$404.03 million, representing a year on year growth of 8.94%.

Total retail sales of consumer goods and services was estimated at VND61,321.4 billion, 8.25% higher than a year-ago period. The effective implementation of the plan aimed to restore and attract domestic tourists to Kien Giang and the pilot plan designed to receive international tourists to Phu Quoc using the "vaccine passport" enabled tourism recovery and development. Total tourist arrivals to Kien Giang were projected at 3.495 million strong, fulfilling 62.4% of the plan. Tourism revenue was forecast at VND3,978 billion, or 51.4% of the plan.

From January to June 2022, the province granted three new investment licenses registering to invest VND1,320,463 billion and hiring 13.799 ha of land, and allowed 36 existing projects to revise their investment activities. It also allowed 24 investors to invest VND137.49 billion to buy shares or contribute capital to companies. Economic sectors continued to be offered good conditions for development. As many as 897 new companies were established with a total registered capital of VND11,525.4 billion, bringing companies in the province to 11,421 and corporate investment capital to VND187,039.8 billion.

Together with economic development, social and cultural fields were also encouraged for development. Social security, care for policy-beneficiaries and people with meritorious services, and socially protected people were carried out quite well to bring practical effects. The New Rural Development Program made many positive changes. Infrastructure continued to receive attention and investment. The material and spiritual life of the people was improved. National defense and security, social order and safety were upheld.

Six-month socioeconomic performance of Kien Giang province amid post-pandemic recovery partly showed the efforts and strong determination of the government, businesses and people. Besides good achievements, there were still some shortcomings and limitations, however. Total social investment capital and public investment disbursement remained low, resulting in a slow construction process of key projects and rural traffic development. Although local products expanded in output, export shipments remained modest. Many companies faced local labor shortages. The COVID-19 vaccination rate remained low in some localities.

To overcome these shortcomings, the province will continue to effectively carry out its socioeconomic recovery and development program based on Plan 60/KH-UBND dated March 14, 2022 of the Provincial People's Committee and ensure that all targets will be met and exceeded. The province will focus on removing difficulties and obstacles in production and business, especially slower-than-expected targets. It will speed up planning and its implementation progress; review, consider and settle complaints and denunciations in a timely and lawful manner, especially in complicated and lengthy lawsuits. Kien Giang will accelerate Kien Giang Planning for the 2021-2030 period, with a vision to 2050. It will effectively carry out the agricultural restructuring scheme; boost trade promotion, and expand agricultural and aquatic export markets; and expand marketing to woo more tourists. At the same time, it will continue to implement safe, flexible adaptation to and effective control of the COVID-19 epidemic, with focus placed on speeding up Covid-19 vaccination, expediting socioeconomic recovery and development, and actively taking measures to respond to new epidemics.

Determined to take the lead in the Mekong Delta region

To become a relatively developed province in the country and a leader in the Mekong Delta region, Kien Giang province will strive to achieve an annualized gross regional domestic product (GRDP) growth of 7.24% or higher in 2020-2025. Its GRDP per capita will reach US$3,485 in 2025. Its economy will be constituted by 25.2% agriculture - forestry - fishery, 19.8% industry - construction, and 49.4% services. The production value of agriculture, forestry and fishery will rise by 1.76% yearly on average; the industrial production value will expand by 8% annually on average; total retail revenue of consumer goods and services will increase by an average of 10% a year. The urbanization rate will reach 41.45%. Budget revenue will amount to VND73,645 billion in the 2021-2025 period. The total social investment capital will be VND267,128 billion in the 2021-2025 period.

To achieve the above goals, the province will focus on three strategic breakthrough stages: Fostering consistent and effective administrative reform; developing and improving the quality of human resources; and investing in building synchronous socioeconomic infrastructure, especially traffic, to create favorable conditions for connection and development. At the same time, the province will give priority to promoting intensive sustainable economic development; developing and improving the quality of human resource education and training, taking care of cultural development and ensuring social security; improving the performance of the government, administrative reform, judicial reform, national security and security; boosting diplomacy, comprehensive integration into the international community, effective fulfillment of international commitments and new-generation free trade agreements. It will give priority to carrying out Phu Quoc City Establishment Project; actively coordinating with central authorities to build breakthrough mechanisms and policies for Phu Quoc City to attract big and capable investors, provide favorable conditions for Phu Quoc to develop into a major tourist and service center of the country, Southeast Asia and the world on three main pillars: Entertainment, banking and financial services, and marine economy.

Source: Vietnam Business Forum