The southern province of Dong Nai has been formulating a wide range of measures to realise the gross regional domestic product (GRDP) target of between 10.8 and 11.8 percent this year, Chairman of the provincial People’s Committee Dinh Quoc Thai said.

The committee has ordered relevant agencies to restructure investment, focusing on reducing the public sector’s participation in projects.

They have also been asked to promptly deal with bad debt of credit institutions, practice thrift when using the State budget, and work harder to streamline administrative procedures and improve the local business climate.

Statistics show that Dong Nai’s GRDP topped 24 trillion VND (1.14 billion USD) in the first half of 2014, reaching 42.1 percent of its yearly target and rising by 10.8 percent from a year earlier.

Of that sum, 15 trillion VND (714.28 million USD) came from the industry – construction sector.

Director of the provincial Department of Planning and Investment Bo Ngoc Thu attributed this to the stable operation of foreign invested enterprises and a number of new firms becoming operational.

Over the period, Dong Nai collected more than 16.2 trillion VND (771.4 million USD) for the State budget, up 16 percent from a year before, the official added.

The province is one of the biggest destinations for foreign investors in the south.-VNA