Bac Lieu’s GDP to grow 8.36 percent this year

Bac Lieu (VNA) – The gross domestic product (GDP) of the southern province of Bac Lieu is expected to grow 8.36 percent this year, according to a provincial official.

Duong Thanh Trung, Chairman of the People’s Committee of Bac Lieu province, said at a conference of the provincial Party Committee on November 28 that this is the highest rate since the beginning of the committee’s tenure.

In 2018, with a growth rate of 10.3 percent, the service sector for the first time outperformed agriculture, which expanded by only 5.2 percent.

Nguyen Quang Duong, Secretary of the provincial Party Committee, said along with advantages, Bac Lieu still faces difficulties in the value chain of the shrimp sector.

He also stressed the need for the local tourism industry to improve its quality, train workers and build infrastructure.

Although Bac Lieu has gained achievements in poverty reduction, the work remains unstable, he said, urging the province to employ more solutions to help local households escape from poverty.

Duong noted five major tasks set for the province in 2019 – creating more breakthroughs in personnel work, enhancing solidarity, raising public consensus and revamping leadership methods.

Delegates at the event discussed solutions to boost tourism development, maritime economy and new-style rural area building, attract investment and ensure security and safety.

According to a draft report presented at the conference, the province’s economy is projected to grow 8.5-9 percent in 2019, with per capita income at nearly 48 million VND (2,064 USD).

The service sector is expected to account for 42.53 percent of the local economy, and export turnover is set to hit 690 million USD.-VNA