16:04 | 18/11/2015 Local Economy
(VEN) - For years now Dong Nai has focused on economic development with industry as a key sector in combination with agriculture, and trade and services. It has set new goals for new periods of time. Vietnam Economic News’ Truong Vu and Ho Cong spoke with Dong Nai Province People’s Chairman Dinh Quoc Thai.
Dong Nai Province People’s Committee Chairman Dinh Quoc Thai (right) receives foreign investors
Could you provide a run-down on Dong Nai’s major achievements during the 2010-2015 period?
The province has realized 33 of 40 objectives during this period, basically becoming a developed province. Major achievements include economic restructuring and a shift in the growth model. The economy continued to develop positively. Gross regional domestic product (GRDP) increased by an average of 12 percent per year, beyond the average growth for the country and several provinces and cities in the Southern Key Economic Zone. The economy was restructured in the direction of slightly reducing industry and construction and strongly developing the service sector. Per capita GRDP is expected to reach US$3,089 by the end of this year, more than twice that of 2010 and an increase against the goal set in the provincial party resolution.
In the last five years, more than 10,000 new businesses were established with total registered capital of over VND50 trillion. The province has attracted more than VND50 trillion in domestic investment and more than VND6.5 billion in foreign investment, focusing on support industries, high technology and service projects.
The trade and service sector also made progress meeting the need for consumption and production. Exports increased by an average of 14 percent per year, reaching US$14.5 billion in 2015. Imports increased by an average of eight percent per year and are reducing progressively, focusing on machinery, equipment and production materials.
Agriculture also achieved a breakthrough in terms of productivity and internal restructuring via increasing livestock breeding. The implementation of the new rural program has modernized rural areas.
Environmental protection has improved, while socioeconomic infrastructure has increased significantly and social welfare has been emphasized focusing on vocational training, employment, prioritized people, food hygiene and safety, and epidemic prevention.
What breakthroughs will the province make during the 2015-2020 period?
During this period, Dong Nai will continue developing its comparative advantages and internal strengths and combining them with external resources to develop the economy in a rapid and sustainable manner. We’ll accelerate the pace of modernization based on renewing and improving science and technology and increasing productivity, quality, efficiency and competitiveness of the provincial economy.
Breakthrough areas for the next five years will be raising valuable capital for social infrastructure and service projects to improve people’s living standards, developing high-quality human resources, concentrating on key sectors, intensifying administrative reforms, and raising the responsibilities of key leaders at all levels.
What commitments has the province made to better attract investors?
Following the sustainable development direction, Dong Nai continued choosing investors and encouraging high-tech projects, support industries, energy conservation, environmental protection, and projects in agriculture, infrastructure and services.
For this to happen, the province has restructured investments with a focus on public investment, intensified enterprise restructuring focusing on state-owned corporations, encouraged businesses to apply scientific and technological achievements, and strengthened high-quality human resources training.
To sharpen the competitive edge to attract investment, the province considers state management as a key task, apart from reforming administrative procedures, improving the quality of human resources and the implementation of the one-stop mechanism, and increasing dialogue with enterprises to help them fix problems.
Dong Nai is trying to show itself as an ideal destination for domestic and foreign investors through specific action programs.
Dong Nai’s major objectives for 2015-2020:
Gross regional domestic product (GRDP) will increase by an average of 8-9 percent per year, of which industry and construction will grow by 8-9 percent, services up by 12-13 percent, and agriculture, forestry and fisheries up by 3-4 percent. Per capita GRDP will reach US$5,300-5,800 by 2020. Export revenues will increase by 9-11 percent per year. Total development investment will range between VND400-420 trillion from 2015-2020. The trained work force will account for 65 percent by 2020.
Truong Vu & Ho Cong