Positive economic growth

It is estimated that by 2023, the province's rice output will reach more than 3 million tons (Photo: Huynh Du)

Many industrial and agricultural product groups have high growth

According to Provincial People's Committee, the socio-economic development situation in Long An in 2023 is basically stable, the economic growth target is forecast to not meet expectations but still grow positively. This is an important result in the context of many difficulties, especially the impact of the Russia-Ukraine military conflict, increased strategic competition, slow growth of the world economy, inflation and difficulties in production and business..

The industrial production index in 11 months of 2023 increased by 6.89% compared to the same period. Of which, the processing and manufacturing industry increased by 7.04%; Electricity production and distribution increased by 3.7%; Water supply, waste and wastewater management and treatment industry increased by 9.61% over the same period. The number of industry groups and industrial products as of November 2023 is 58 groups, of which 38 groups output increased over the same period.

Among them, many product groups have quite high growth rates such as other types of floating structures increased by 85.2%; Other unconnected pipes, circular cross-section made of iron and non-alloy steel increased by 48.5%; wooden beds of all kinds increased by 48.5%; NPK mineral or chemical fertilizers increased by 45.2%; drainage system operation services increased by 30.1%; rice that has been completely or partially milled, whether or not the grain has been polished, increased by 25.3%; backpacks increased by 18.7%; etc. This helps the industry - construction sector grow quite well, promoting its role as a driving force for the province's economic growth.

The province maximizes its distinct potentials and advantages for rapid and sustainable socio-economic development

The province's agricultural production meets favorable weather conditions. Crops grow and develop well, achieving many positive results. Farmers boldly apply scientific and technical advances to production for key crops such as lemon, dragon fruit, jackfruit, etc, bringing high economic efficiency. It is estimated that by 2023, rice output will reach over 3 million tons (the industry's target is 2.8 million tons), of which high quality rice will reach over 1.8 million tons.

Strengthen investment attraction

According to the plan, the province's development space is reasonably organized, associated with the development of a synchronous and gradually modern infrastructure system. Currently, localities located in the province's key economic regions are developing stably, serving as a driving force for general development for the entire province.

Long An is one of the localities that attract investment well. Since the beginning of 2023, there have been 1,582 newly established enterprises in the province (an increase of 11%) with a total capital of 15,478 billion VND. To date, in the province there are 16,702 registered businesses with a total capital of 367,968 billion VND, of which 12,602 businesses and 76,624 business households are operating.

For domestic investment projects, since the beginning of 2023, the province has accepted 65 new projects with a total new registered capital of 56,364 billion VND (an increase of 33,785 billion VND). There are currently 2,197 domestic projects in the province with registered capital of 268,341 billion VND. For foreign investment projects, since the beginning of 2023, the province has granted 95 new projects, an increase of 47 projects with a total registered capital increase of 235 million USD. To date, the province has 1,228 foreign investment projects with a total capital of 10.5 billion USD.

Provincial leaders have increased their outreach to potential investors to attract investment from businesses, and attract investment in projects which positively impacts the province's socio-economic development. Specifically, the provincial leaders visited Yumoto Company Limited, the Korean Business Delegation and the Indian Consulate General in Ho Chi Minh City, etc.

In particular, the provincial leaders organized a working delegation to visit and work with Korean partners on the business trip of the Secretary of Provincial Party Committee, Chairman of Provincial People's Council - Nguyen Van Duoc and the Central Economic Commission in Korea (from October 21 to 24, 2023). The highlight is that the provincial leaders had working sessions with major partners such as the Korea Export-Import Bank (KEXIM) on developing inter-regional transport infrastructure, GS Energy Group on developing Long An LNG Power Plant I and II, working with large corporations in Seoul, Korea.

According to Department of Planning and Investment, the province has been proactively implementing many practical programs and activities to further tighten cooperative relationships with domestic and foreign organizations and businesses to invite investment in the province.

With the advantages of land potential along with a focus on investing, upgrading and perfecting infrastructure, especially transport infrastructure to serve industrial development, the province's orientation in the coming period is to attract slective investment, aiming to develop the digital economy, green economy, circular economy, taking science - technology and innovation as the foundation associated with environmental protection towards sustainable growth.

At the same time, the province also wants businesses to accompany the province in researching investments, promoting the effectiveness of industrial park models in a sustainable direction, moving towards forming industrial - innovation - urban - service - high technology ecosystems in the province.

Long An is one of the localities that are successful in attracting investment (Photo taken at Semitec Electronics Company Limited, Tan Kim Industrial Park, Can Giuoc district)

According to Vice Chairman of Provincial People's Committee - Huynh Van Son, in the process of socio-economic development, the province welcomes and is ready to create favorable conditions for businesses to invest in Long An, especially in current priority areas such as technological innovation, information technology, digital transformation; green energy conversion; industrial infrastructure, urban infrastructure; medical; processing industry, manufacturing, materials, electronics; financial market development; human resource training; entrepreneurship promotion.

The province commits to always accompany businesses and support investment projects to fully enjoy preferential policies according to regulations. Provincial leaders have key plans to improve the province's human resources in the direction of improving both quantity and quality, meeting high technical standards of businesses./.

By Mai Huong - Translated by Q. Thien

Source: https://baolongan.vn/kinh-te-tang-truong-kha-quan-a167969.html