Thai Binh keeps yearly economic targets unchanged

Thai Binh (VNA) – The northern province of Thai Binh has targets its gross regional domestic product (GRDP) growth of 13 percent in the second half of 2021 to fulfil its goal of at least 9.1 percent of expansion for the whole year.

Amid the COVID-19 pandemic, completing all goals set for the year is a tough task for the province in the rest of the year, requiring the locality’s high determination and efforts as well as the engagement of all departments, sectors and localities.

To realise the goal, in the remaining months of the year, the agro-forestry-fishery sector need to ensure the growth of 4 percent to fulfil the yearly target, while the industry and construction sectors expand 23 percent, and service 7.7 percent.

While COVID-19 is developing complicatedly, especially in southern localities and Ho Chi Minh City, Thai Binh defines pandemic prevention and control as its core mission in the rest of the year.


In reality, over the past more than one and a half years, Thai Binh has shown strong performance in COVID-19 prevention and control, helping local businesses and resident stabilise their production and business, thereby maintaining and boosting economic development.

In the first six months of this year, the industrial sector still enjoyed the largest growth with an estimated production value of 36.1 trillion VND, up 10.8 percent year-on-year and equal to 45.3 percent of the yearly plan, in which the mining industry grew by 10.6 percent, and processing industry expanded by 11.4 percent. The number of newly-established enterprises and branches and representative offices rose by 14 percent over the same period last year with a total of more than 420 enterprises, branches and representative offices and a total registered capital of 3.8 trillion VND, up 13.8 percent year-on-year.

In the total local budget revenue in the period, domestic revenue reached 67 percent of the estimate with an amount of more than 4.56 trillion VND, a year-on-year jump of 50.1 percent. Disbursement of construction investment during January-June reached 77 percent of the yearly estimate, making Thai Binh rank second in the country, after Hai Phong city, in terms of construction investment disbursement in 2021.

The agro-forestry-fisheries and services sectors also posted growth with 1.71 percent and 4.35 percent, respectively. Total retail sales of goods and revenue from consumer services were estimated at 24.4 trillion VND, up 7.6 percent over the same period in 2020.

Along with efforts to control the pandemic, departments, sectors and localities across the province have built their own plans for the rest of the year in a bid to complete the targets set for the whole year.

Dinh Vinh Thuy, Director of the provincial Department of Agriculture and Rural Development, said that although the agro-forestry-fishery sector only recorded 1.71 percent rise year on year in production to over 6.57 trillion VND in the first half of this year, the sector considers it as a positive result.

As a “leverage” of the economy, in the rest of the year, the agricultural sector will concentrate on implement restructuring measures in a strong, comprehensive and effective manner to enhance the added value and promote its sustainable development.

Meanwhile, it will strengthen the application of high technology into production towards value chain development, while increasing trade promotion activities to expand market and build trademark for local farm produce, thus boosting production value growth of the whole sector and complete set targets, he said.

With is high determination and efforts as well as comprehensive solutions, Thai Binh pins a high hope to not only control COVID-19 effectively but successfully implement all socio-economic development targets for the year, paving the way for the successful completion of goals set in the resolution of the 20th provincial Party Congress./.