Khanh Hoa focuses on urgent solutions to develop economy in 3 year-end months

Wednesday, 30/09/2020, 15:26 [GMT+7]

Khanh Hoa focuses on urgent solutions to develop economy in 3 year-end months

Khanh Hoa Provincial People's Committee has just had a plan for socio-economic development in the three last months of the year. In which, the task of economic development has been identified to be very urgent.
 
Economic indicators drop sharply
 
According to the report of the Provincial People's Committee, due to the impact of the Covid-19 epidemic, the province's economic indicators in 9 months of 2020 saw slightly increase or decrease compared to the same period in 2019. Specifically, Gross Regional Domestic Product of the province (GRDP) decreased by 9.8%; export turnover decreased by 10.89%; the index of industrial production increased only by 0.52%. Meanwhile, the total retail sales of goods and services decreased by 30.46%; tourism revenue decreased 79.3% with a decrease of 82% in the number of guests. This is an unprecedented decrease during the past 10 years. Due to the decline in all sectors, domestic revenue of the nine month reached 51.84% of the estimate. This will greatly affect the general economic development of the province in the last 3 months of the year and the following years.
 
According to Director of the provincial Department of Planning and Investment Tran Hoa Nam, in the first 9 months of 2020, although the province's economy faced many challenges, the authorities at all levels still had prompt response. The province has actively implemented solutions to prevent and control the Covid-19 epidemic to limit the spread, built action plans to implement groups of solutions to minimize the impact of the Covid-19 epidemic. At the same time, the province made instructions to remove difficulties for production and business activities, performing socio-economic development tasks, and ensuring the security and safety of life and health of the people. “Attracting non-budget investment has achieved positive results with 12 projects and total investment of about 7,009.6 billion VND. Notably, the province promptly quarantined positive Covid-19 cases, not to infect the community. The province also held the high school graduation exam in 2020 safely and seriously.
 

 

Van Phong 1 BOT Thermal Power Plant project
Van Phong 1 BOT Thermal Power Plant project
 
Many drastic solutions
 
During the past time, the Provincial People's Committee, departments, disciplines and localities have had specific solutions for economic development; however, in the coming time, there are still some difficulties and challenges. The Covid-19 epidemic is going on in the world, creating many challenges in fulfilling the socio-economic development targets set at the beginning of the year, especially for sectors trade - tourism, agriculture, industry, import and export, budget revenue, etc. After the crisis caused by the Covid-19 epidemic, forecasts show that it may take at least one year to recover the market as well as service supply and ensuring a stable growth like before the epidemic.
 
Facing unpredictable happening of the epidemic, the socio-economic indicators in the last 3 months of 2020 is forecast not to fulfill the targets set by the Provincial Party Committee and the Provincial People's Council; and it is difficult to determine the year-end results. Therefore, the province need focus on solving difficulties and promoting agriculture, forestry and fishery to increase the added value of this area in the GRDP, in order to stabilize local people's living and develop the economy. At the same time, export, trade, services and tourism need to be impulsed to create values to promote general economic development. In addition, inspecting and urging the implementation progress of non-State budget investment projects, solving problems for investors, especially industrial production projects, need to continue. The issue of accelerating the disbursement of public investment capital is also considered as an important solution to increase the added value of the industry and the construction in the GRDP, to make up for the reduction in agriculture, forestry, fisheries and service.
 
According to Chairman of the Provincial People's Committee Nguyen Tan Tuan, in 2020, the province strives to increase the GRDP growth rate by 0.05% compared to 2019. In which, GRDP by economic sector is aimed to increase by 0.8%. To achieve the highest level of these targets, in the last 3 months of the year, a number of urgent tasks and solutions need to be performed. Accordingly, discliplines and levels need to push up strongly the growth in each industry, field, locality and each big project. The agriculture, forestry and fishery need stabilize and continue production. Besides, the province need expand the market for seafood to increase fishing and farming. For industrial production, it is necessary to grasp information about difficulties and problems of each industry group to give prompt support. The province continues to build and implement a program to stimulate domestic tourism and attract FDI.
 
Dinh Lam
 
Translated by T.T