The Party and the government of O Mon district have focused on directing relevant bodies to utilize local potential and advantages for economic development for high-quality industry, trade, service and agriculture; and effectively mobilized investment resources for synchronous socioeconomic infrastructure, especially transport infrastructure. At the same time, it has strengthened urban, land and environment planning management and carried out local development projects for a more modern and more developed O Mon district.
Good economic prospects
In the 2015-2020 term, O Mon district has defined its overall goals of fostering economic development, increasing production value, improving the living quality of people, maintaining sociopolitical stability, protecting national defense and security, and creating a solid foundation to become a basically prosperous district. Over the past five years, the district has utilized local advantages and focused on overcoming difficulties to achieve its economic objectives.
The local economic quality has been gradually improved. Economic growth and production value have stayed high, averaging 10.44% a year in the 5-year term. The economic structure shifted in the right direction, with a decreasing share of agriculture and fisheries and a rising share of industry - construction and trade - services (Agriculture - fisheries accounted for 4.12%; industry - construction, 65.86%; and trade - service, 30.02%).
Trade - service has developed quite well, with outstanding fields of commerce, finance - banking, information technology, telecommunications, health and education. Total retail revenue of goods and services exceeded 0.36% of the plan, 1.92 times that of 2015.
The district has high-quality agriculture which applies scientific and technological expertise to production. The growth has averaged 0.98% a year since 2015. Many production cooperation models have been established and scaled up.
The district has mobilized all available resources for investment and development and achieved good results. Total social investment fund was estimated at VND57,685 billion (165% of the plan), an increase of 1.9 times over the 2010-2015 period.
Urbanization, construction, land, and environmental protection management has been strengthened. The quality of education, training and health care for the people has been raised. The social security policy has been well implemented. National defense, political security and social safety and order have been firmly maintained and strengthened. The district has achieved important results in Party building and political system building, and prevented and repelled the deterioration of political ideology, morality and lifestyle of public employees and Party members.
To promote its achieved results, in the period 2020-2025, O Mon district has set out the following specific tasks:
The gross output (GO) growth will reach an average of 9.75% or more a year in the period 2020 - 2025, striving to increase GO by 110.12% by 2025 (agriculture - fisheries by 96.52%, industry - construction by 109.48%, and trade - service by 113.81%.)
The GO value will reach VND194,675 billion in the 2020-2025 period (agriculture - fisheries will account for VND6,721 billion; industry - construction, VND143,433 billion; and trade and services, VND44,521 billion.
By 2025, the agriculture - fishery sector will account for 3.64% of the GDP, the industry - construction sector will make up 65.91%, and the trade - service sector contributes 30.45%.
The State budget revenue is estimated to grow by 12% a year (excluding land use fees). The expenditure for basic construction will fulfil 95% of the spending plan. Total investment capital for social development is from 38% of GO and over (VND90 trillion).
Speeding up administrative reform and business support
In recent years, administrative procedure reform is always a matter of concern and focus of the Party and the government of O Mon district to build a clean, strong, modern, effective and efficient system of government agencies, enhance democracy of administrative agencies, create a fair, convenient, transparent business environment, and practically support enterprises of all economic sectors.
Clearly defining the role and importance of administrative reform in local administration and development in all fields, O Mon district has actively directed concerned agencies and localities to boost administrative reform in the past time. In the coming time, the district will continue to actively carry out many consistent solutions to improve the business investment environment by promoting administrative procedure reforms for greater publicity and transparency; effectively applying the single-window mechanism and reducing service fees.
At the same time, the district will further inspect and review legal documents and regulations, create a simple and open legal corridor, widely apply information technology in local agencies and enterprises to enhance operational efficiency in many fields, like finance - banking, telecommunications, information and administration.
As the success of investors is also the success of O Mon, the district will be a reliable place for domestic and foreign investors to do business. The government of O Mon district is committed to supporting investors when they invest in the locality.
Given potential advantages and open investment policy, O Mon district is confident to grow strongly and become a favored destination for investors in the coming years.
Source: Vietnam Business Forum
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