Effort to Spur Socioeconomic Growth

9:49:05 AM | 5/11/2020

Given numerous difficulties and challenges caused by the COVID-19 pandemic, Hai Phong has still managed to achieve a relatively high economic growth rate. This achievement partly comes from the industry and trade sector’s effort of successfully carrying out the dual goals of controlling the pandemic and promoting trade and production, thus contributing to the city’s socioeconomic growth.

Mr. Bui Quang Hai, Director of Hai Phong Department of Industry and Trade, said, despite being negatively affected by the COVID-19 pandemic, the industry and trade sector has flexibly and drastically carried out the government-backed "dual goals": Seriously preventing, combating and controlling the pandemic and focusing on solving difficulties and promoting production and business to achieve the highest socioeconomic growth. In the first nine months of 2020, Hai Phong City’s Index of Industrial Product (IIP) was estimated to rise by 14.02% year on year, higher than provinces and cities like Hanoi (+4.3%), Ho Chi Minh City (-4.9%) and Quang Ninh (+8.1%), and 5.84 times higher than the country’s growth. Total retail sales of consumer goods and services were estimated at VND104,060 billion in the period, up 7.14% year on year (versus 0.7% growth of the country) and the import and export value was forecast at over US$14 billion. Currently, the COVID-19 pandemic is developing very complicatedly and the entire political system, including the industry and trade sector, has worked hard to realize the "dual goals" of preventing and combating the COVID-19 pandemic and maintaining and developing economic activity.

In the last months of 2020, the Department of Industry and Trade is determined to achieve the highest possible industrial and commercial development indicators by carrying out a number of key tasks and solutions: (i) Actively and promptly implementing directives of the Prime Minister, resolutions of the Government, instructions of the Ministry of Industry and Trade, the City Party Committee and the City People's Committee in COVID-19 pandemic prevention and control; (ii) Grasping situations of local enterprises and key industrial and commercial projects to promptly deal with emerging problems in production and business activity and speed up construction progress; (iii) Closely monitoring changes in supply and demand, commodity prices in the market, especially commodities that may imbalance supply and demand due to sudden demand for pandemic control to take timely measures to manage or send recommendations and proposals for market stabilization to competent authorities; (iv) Advising the City People's Committee to launch action plans, programs and decisions, building industry and trade development projects like the Supporting Industry Development Program, Market Development Program, Industrial Restructuring Project and Commodity Export Development Project.

At the same time, the industry and trade sector will ensure stable electricity supply for the city’s socioeconomic development, especially key high-tech projects; implemented the National Program on economical and efficient use of energy in Hai Phong City in the 2020-2030 period; continue to implement the Domestic Market Development Support Program and the “Buy Vietnamese” Campaign that encourages Vietnamese people to give priority to Vietnamese goods in their shopping decisions; and launch “Hai Phong Promotional Month Program 2020". The sector will accelerate e-commerce application to production and business; widely and effectively boost industrial promotion; and support enterprises to boost and diversify exports and import markets and seek new markets.

Furthermore, it will coordinate with relevant agencies and local authorities to perfect investment procedures, add development plans, and build industrial complexes. It will continue to review and streamline administrative procedures within its jurisdiction and bring more online public administrative services of Level 3 and Level 4. It will also conduct inspection into regulatory compliance in the field of industry and trade.

By Hoai Nam, Vietnam Bushiness Forum