Khanh Hoa - A bright spot for growth

In the first quarter of 2023, Khanh Hoa continued efforts to maintain the growth rate and was listed among the top 5 provinces and cities with high growth rates in the country.

In the first quarter, gross domestic product (GDP) only increased by 3.32% over the same period last year. This was the lowest result in the past 10 years. The economic growth rate in a number of key industrial provinces such as Bac Ninh, Vinh Phuc, Quang Ngai, Quang Nam, Ba Ria - Vung Tau... fell deeply, with the total product in the area ( GRDP) is negative from 2 to 12%. In addition, the country's major economic and industrial centers had low growth rates: Ho Chi Minh City increased by 0.7%; Binh Duong increased by 1.15%; Dong Nai increased by 3.25%; Can Tho increased by 4.02%; Hanoi increased by 5.8%.

Production at Khatoco Garment Factory

In that context, continuing the impressive growth momentum of 2022 (the province's GRDP increased by 20.7% compared to 2021 and ranked first in the country in terms of growth rate), in the first quarter of 2023, Khanh Hoa emerged with growth rate of 9.07% and was one of 5 provinces and cities with high growth rate of the whole country (Hau Giang, Binh Thuan, Hai Phong, Khanh Hoa and Ca Mau). Specifically, the province's industrial production index increased by 6%; total retail sales of consumer goods and services increased by 20.3%; tourism revenue increased 3 times; domestic revenue increased by 7.1%; total development investment capital increased by 12.2%...

At a recent meeting with Khanh Hoa Province leaders, Prime Minister Pham Minh Chinh highly appreciated and praised the positive and comprehensive results that Khanh Hoa Party Committee, government and people achieved and contributed to the overall achievement of the country. The Prime Minister asked the province to make more efforts to develop commensurate with its potential and strengths, as well as the central government's interest in the province; ensure fast and sustainable development; play a more active role in strengthening regional linkages; accelerate disbursement of public investment capital; effectively implement 3 national target programs and provincial plans after being approved.

In order to maintain the growth momentum, right from the beginning of the second quarter, the province has implemented a series of activities and breakthrough solutions. In particular, the series of activities to celebrate the 370th anniversary of construction and development of Khanh Hoa province (1653 - 2023) really made an impression on locals and visitors. Thereby, it introduced and widely promoted the potential and advantages of the province. Especially, at the conference announcing the provincial planning and investment promotion in 2023, Khanh Hoa attracted 116,500 billion VND with large projects from domestic and foreign investors. This is a bold mark for this year - the year of "planning and investment" of the province.

Along with that, the Provincial People's Committee has directed departments, branches and localities to focus on implementing key tasks, such as synchronously deploying solutions and tasks to organize effective implementation, Resolutions of the Central Committee, conclusions of the Prime Minister and Action Plan of the Provincial Party Committee to implement Resolution 09 of the Politburo on construction and development of Khanh Hoa province to 2030, with a vision to 2045; Resolution No. 55 of the National Assembly on piloting a number of specific mechanisms and policies for the development of Khanh Hoa province. In particular, the province actively cooperates closely with central ministries and branches to soon submit to the Government and the Prime Minister for promulgating the remaining legal documents to developing the implementation of specific policies for the province; implement synchronously, drastically and effectively the tasks and solutions for socio-economic development in 2023. 

Dinh Lam
Translated by T.T