Kien Giang Financial Service: Using State Budget Capital Effectively

Kien Giang is a large Mekong delta province with land and maritime border lines. The province has difficult topographic conditions and poor infrastructure facilities. Therefore, the province often has to concentrate its capital on major programmes and projects. This is a real challenge for local financial services. However, with great efforts, it has gained some encouraging results.

 

In the first half of 2005, the Kien Giang financial service completed 52.3 per cent of its centrally assigned plan and 51.2 per cent of locally assigned plan, thus making a contribution to the province’s budget balance. More specifically, among 17 criteria, 12 criteria were completed, reaching over 50 per cent of the yearly plan. Having concentrated on implementing measures, in the first half of 2005, the private industrial and commercial sector completed 51.69 per cent of the yearly plan, up by 12.89 per cent against the same period of 2004. Also, having managed revenues and limited tax debts, the local financial service completed 75.9 per cent of the yearly plan of its import and export tax revenue task, up by 52 per cent over the same period last year.

 

At the same time, the Kien Giang financial service implemented its capital disbursement. In the first half of 2005, the local financial service has allocated enough capital for infrastructure development. In addition, the service has provided enough capital for State policy programmes, including poverty reduction, job creation, and scientific and technological application. It concentrated on prioritising capital for completed programmes and projects, rural roads, the electricity supply network development, and school building.

 

Over recent years, thanks to a conversion of administrative units into profitable ones, their operation effectiveness has improved, thus helping increase local budget revenues. The service has actively promoted the equitisation of State-owned enterprises. So far, Kien Giang has five equitised enterprises out of 23 State-owned enterprises and seven other enterprises completing the procedures for equitisation.

 

As planned, by the end of 2005, 60 per cent of rural roads in Kien Giang province will be upgraded. Ninety per cent of communes will have motorable roads to their centres. Eighty per cent of local people will have electricity. At the same time, Kien Giang province will upgrade its schools and build 1,900 charity houses. The province will concentrate its expenditures to develop aquaculture and agriculture, thus promoting the export of some goods items, including over two million tonnes of rice in 2005 and large quantities of shrimp. Under the Government’s decision, in the coming years, Kien Giang province will concentrate its investment capital on building infrastructure facilities, including roads, seaports and airport, in Phu Quoc Island. At the same time, the province will build the Mong Thhá» industrial park on 300 hectares and some trade centres, such as An Bien, An Minh and Chau Thanh, and the fishing service area.

 

Ngoc Oanh