Phu Tho posts strong economic growth in H1

Production at Lam Thao Fertilizers And Chemicals JSC (Photo: VNA)

Phu Tho (VNA) – The northern province of Phu Tho has risen to the third position among the northern midland and mountainous localities in economic growth speed, heard a recent meeting of the provincial Party Committee’s Standing Board to review the province’s socio-economic performance in the first half of the year and sketch out plan for the rest of 2023.

According to the provincial People’s Committee, despite difficulties in the domestic and international situation, in the first six months of this year, Phu Tho still posted high economic growth at 7.22%, ranking third among the 14 localities in the region and 16th out of the 63 cities and provinces nationwide.

In the first six months of this year, its industry sector expanded 10.11%, entering the top 10 localities of the nation in the field.

In the period, the locality completed 12 out of the 16 targets and exceeded the budget estimate assigned by the provincial People’s Council. The majority of public invested projects have been implemented with good progress, with the distribution level of public investment higher than the country’s average.

The provincial People’s Committee attributed the results to the province’s efforts to make breakthroughs in improving the local business environment right from the beginning of the year.

In the first half of the year, the locality saw 102 new and expanded projects. It has completed dossiers on the province’s master planning for the 2021-2030 period with a vision to 2050 to submit to the Prime Minister, while finalising dossiers on planning of Viet Tri city.

Alongside, the province has received 4.5 trillion VND (191.24 million USD) of State budget and allocated 4.22 trillion VND, or 93.7% of the plan, to 342 projects.

As of May 31, the disbursement rate of public investment capital was estimated at 37% of the assigned plan, higher than the national average.

Meanwhile, socio-cultural activities have been strengthened, and the administrative reform sped up and social security and order ensured.

Bui Minh Chau, Secretary of the provincial Party Committee, said that 2023 is an important year in the implementation of Phu Tho’s socio-economic development plan in the 2021-2025 period. In the time to come, Phu Tho will focus on improving the local investment and business environment and mobilising resources for development.

At the same time, it will review all the projects with investment policy approved by the provincial Party Committee’s Standing Board, evaluating their feasibility and making suitable adjustments, he said.

The provincial leader underlined that Phu Tho will roll out measures to remove difficulties facing businesses and investors, prioritising domestic and local businesses.

Regarding land management activities, Chau asked the provincial Department of Natural Resources and Environment to review all activities of land allocation, land auction, and land use right conversion in the province over the years, ensuring that they are implemented in compliance with regulations, and resolutely handling violations if there is any.

Alongside, the locality will review the real estate facilities that have been handed over from the separation and merger of local administrative units. In the field of security and defence, the provincial leader requested local police to stay close to local residents and maintain control over the situation, thus settling all arising problems in a timely manner.

With these solutions, Phu Tho is striving to maintain an economic growth rate of at least 7.5% and per capita GRDP of 63 million VND, along with total social investment capital of 43.5 trillion VND. The locality also aims for a total state budget collection of 6.1 trillion VND. The province expects an urbanisation rate of at least 19.6%, together with 71% in the rate of trained and vocational workers. Phu Tho will also work to reduce the rate of poor households by 0.5%./.