Khanh Hoa - a bright spot in economic growth

Although the country's general socio-economic situation still has many difficulties and challenges, Khanh Hoa's economic growth rate in the first quarter of 2024 is still among the top in the country. This is a bright spot, creating momentum for the province's development in the following months of 2024.

Growth ranks 4th in the country

In the first quarter of 2024, the province's socio-economic situation achieved many positive results, contributing to gradually completing the socio-economic goals of 2024. Economic indicators all increase over the same period last year. In particular, the gross regional domestic product (GRDP) of the province increased by 12.4%, ranking the 4th in the country. Industrial production index increased by 36.97%. Total retail sales of goods and consumer service revenue reached 30,203.6 billion VND, an increase of 17%. Goods export turnover reached 505.2 million USD, an increase of 17.4%. Tourism revenue reached 11,608.8 billion VND, an increase of 159.2% with 1.25 million international visitors, an increase of 5.2 times. State budget revenue reached 4,636.4 billion VND, reaching 27.8% of the estimate and increasing 12.9% over the same period last year. Of which, domestic revenue was 3,944.2 billion VND, reaching 27% of the estimate and increasing 7.7% over the same period last year. Total investment capital for social development in the province reached 14,878.7 billion VND, an increase of 12.5% over the same period last year.

Production at Khanh Hoa Salangane Nest Soft Drink Joint Stock Company

According to Chau Ngo Anh Nhan - Director of the Department of Planning and Investment, to achieve the above results, from the beginning of 2024, the Provincial People's Committee has directed departments, branches, branches and localities to drastically deploy and implement synchronize the Government's resolutions, continue to remove difficulties for production and business, and effectively implement the socio-economic recovery and development program; promote industrial restructuring towards increasing the proportion of processing and manufacturing industries and reducing the proportion of processing and assembly; focus on removing difficulties from large-scale industrial projects in the area, to soon put them into operation and increase production capacity for the economy.

Electricity sector contributes to the overall economic growth of Khanh Hoa Province.

Planning continued to receive attention and direction for implementation. Accordingly, in the first quarter of 2024, the new general planning of Cam Lam urban area until 2045 and the adjusted general planning of Nha Trang city until 2040 were approved by the Prime Minister, 2/19 zoning plans in Van Phong Economic Zone was approved by the Provincial People's Committee, the remaining zoning plans were directed and urged by the province to speed up the preparation, appraisal and approval process. Tasks related to the implementation of key investment projects, especially in Van Phong Economic Zone, have been strengthened and directed. Many investment promotion programs and activities were organized such as conference announcing the Cam Lam new urban master plan until 2045, celebrating 100 years of construction and development of Nha Trang, conference to meet Indonesia, receiving the delegation of Hiroshima province (Japan)... Besides, regional connection activities are focused on implementation; signed a memorandum of socio-economic development cooperation between Khanh Hoa Province, Phu Yen Province and Ninh Thuan Province. In the near future, the province continues to prepare for the Khanh Hoa - Europe Investment Promotion Conference and the province's delegations to visit and work in the United States, Korea...

Maintaining growth

In order for the province's socio-economic to maintain stable growth, the Provincial People's Committee has directed departments, branches and localities to continue effectively implementing approved plans; acelerate the progress of preparation and ensure completion of approval of urban plans and zoning plans in the second quarter of 2024; closely coordinate with the Central Government to speed up the appraisal of the province's Land Use Plan for the period 2021 - 2025 to have a complete basis and submit it to the Prime Minister for approval; urgently promulgate a plan to concretize the Urban Development Program of Khanh Hoa province to 2030, with a vision to 2045.

In addition, the provincial People's Committee has required departments, branches and localities to effectively and substantially restructure the economy associated with innovating growth models, improving competitiveness, rapid and sustainable development; effectively deploying the night economy development project in Khanh Hoa province; speed up the disbursement progress of the capital plan in 2024; promptly handle difficulties and problems of projects, especially site clearance in. Nha Trang; enhance the roles and responsibilities of heads from agencies and units related to the disbursement of public investment capital; strengthen and discipline in public investment...

In addition, the provincial People's Committee also directed the effective implementation of the administrative reform program; focus on removing difficulties and obstacles for people and businesses to promote strong development of production and business activities and improve the provincial competitiveness index.

Dinh Lam

Translated by T.T