High growth target in last half is still possible

The economic targets of the first six months show optimistic signals in the context of the complicated COVID-19 pandemic, which has affected all fields of the economy. Although the provincial economy continues to recover, the year growth rate of 7 percent is considered as a challenging mission and requires great effort.

According to statistics, the province's economic growth rate (GRDP) in the first six months of this year is estimated at 6.5 percent (in which the industry and construction sector increased by 6.78 percent, the agriculture - forestry and fishery sector is 4.29 percent; the service sector and product tax is 6.81 percent). Thus, Thai Nguyen's growth rate is higher than the national average (5.8 percent), ranking 25 out of 63 provinces and cities and much higher than the same period last year. In addition, it shows that Thai Nguyen ranks top provinces achieving the highest growth.

Mr. La Hong Ninh, Director of the Provincial Statistics Department, gave his assay. In recent six months, especially the end of April, the COVID-19 pandemic broke out, which has affected production, business, and people's lives. Although Thai Nguyen has only had 4 COVID-19 cases and has not a pan-center, it is greatly affected by the increasing linkages in production and business. Businesses inside the province, especially FDI enterprises, are also significantly fragmented their production chain. Besides, import and export activities are also affected. As the above analysis, the 6.5% growth rate results from the outstanding efforts of the political system, business community, and people. At the same time, it shows the results of dual goals.

Workers are producing motorcycle spare parts to export at Machinery Spare Part No.1 Joint Stock Company. Photo: V.D

Also, in the first six months of this year, the province's new projects have just put into operation, promising a significant contribution to the production value in the coming time. Along with that, many new high-tech projects were invested in the province. As a result, total development investment capital in the first half was estimated at VND 17.4 trillion, rising 5.8 percent over the same period. Those very positive statistics show the good health of the economy.

Another difficulty for enterprises is the ability to maintain production. For example, although the province has 300 new enterprises, 540 enterprises have stopped or dissolved in the first five months. In addition, the number of employees in the past six months decreased by about 15 percent over the same period and is expected to continue to fall.

According to the analysis of the Provincial Statistics Department, to achieve 7% for the whole year, in the last six months of this year, the province's economic growth rate must achieve 7.44 percent over the same period. Therefore, this goal is considered high in the current context.

However, Mr. La Hong Ninh said that the province could achieve the target as planned. The COVID-19 prevention and control is the most crucial mission.

The Provincial People's Committee gave many solutions to strive to achieve the growth target. The province focuses on deploying the dual goal effectively, solving the obstacles to create favorable conditions for businesses, improving the investment environment. These solutions need the efforts, responsibility, and consensus of the whole political system, the business community, and people.