Ca Mau forecasts growth of 5.28 percent this year
The COVID-19 outbreak and the severe drought will make it difficult for the southernmost province of Ca Mau to achieve this year’s growth target of 7 percent but a figure of 5.28 percent is certainly achievable, local authorities have said.
Workers process shrimp for export at the factory of the Minh Phu Seafood Corp. in Ca Mau province (Photo: VNA)Ca Mau (VNA) - The COVID-19 outbreak and the severe drought will make it difficult for the southernmost province of Ca Mau to achieve this year’s growth target of 7 percent but a figure of 5.28 percent is certainly achievable, local authorities have said.
At a meeting of the provincial People’s Committee on June 2, officials noted that local socio-economic conditions have been substantially affected, with supply chains, trade flows and production and business activities interrupted by both the pandemic and the drought.
Localities such as U Minh, Thoi Binh, Tran Van Thoi, and Cai Nuoc districts as well as Ca Mau city have also suffered from heat waves and high salinity, which subsequently affected animal husbandry and aquaculture. Some 817.4ha of the province’s aquatic farming area has been damaged, while its fisheries exports still face a host of difficulties.
These problems will hamper Ca Mau’s gross regional domestic product (GRDP) from growing by the targeted 7 percent this year.
Director of the provincial Department of Planning and Investment Truong Dang Khoa predicted that the province’s GRDP would rise 5.28 percent this year, adding that Ca Mau may fail to achieve seven of the 21 socio-economic development targets set for 2020: exports, GDP, budget collection, budget spending, poverty reduction, job creation, and unemployment insurance coverage.
To shore up socio-economic conditions for the remainder of the year, People’s Committee Chairman Nguyen Tien Hai said Ca Mau will adopt several solutions, such as accelerating the restructuring of key sectors, boosting technology transfer and technology application in production, processing, and services to raise productivity and product quality, taking drastic action to improve the business climate, and supporting businesses, especially small- and medium-sized enterprises (SMEs), to develop.
Ca Mau will also step up tourism promotion, attract more investors in tourism, and enhance links with nearby localities in tourism development, he added./.
You should also see
Vuong Dinh Hue permitted to cease holding positions, working
The 13th Party Central Committee on April 26 agreed to let Vuong Dinh Hue cease holding the positions of Politburo member, member of the 13th Party Central Committee, and Chairman of the 15th National Assembly (NA) in the 2021 - 2026 tenure.
See more
Business
Long An, Dong Nai introduce strengths in RoK
The southern province of Long An and Dong Nai introduced their investment climate as well as socio-economic development orientations at an investment promotion conference held in the Republic of Korea (RoK) on April 26.
Business
Vietnam makes initial efforts to approach creative industries: CIEM
Vietnam has made initial efforts to approach creative industries and services, particularly a policy framework related to creative economy development, according to a new report released by the Central Institute for Economic Management (CIEM).
Business
HCM City wants to become major partner, customer of NVIDIA: Official
Chairman of the People’s Committee of Ho Chi Minh City Phan Van Mai has told the Vice President of Worldwide AI Initiative at NVIDIA, Keith Strier that the city wants to become a major and good partner and customer of the firm in Vietnam.
Business
Revenue on top five e-commerce platforms jumps 79%
The e-commerce market of Vietnam was robust in the first quarter of this year with total revenue of the top five platforms, including Shopee, TikTok Shop, Lazada, Tiki and Sendo, reaching more than 71 trillion VND (2.79 billion USD), an increase of 79% over the same period last year, according to a recent report by Metric.
Business
Vietnam needs drastic reforms to create firm ground for economic growth: experts
Drastic institutional reforms are needed to create firm ground for economic growth in the context that persistent challenges, both external and internal, still cloud the growth prospect, experts have said.
