Bac Kan Province: Positive signs of industrial production, trade

(VEN) - In January 2024, the industrial production index, the total retail sales of consumer goods and services, and the import-export value of Bac Kan Province showed a positive outlook compared to the same month last year. This is an important premise for the locality to achieve its annual goals and targets.
Industrial production in Bac Kan Province thrives during early months of 2024 - photo: Bac Kan Portal
Industrial production in Bac Kan Province thrives during early months of 2024 - photo: Bac Kan Portal

Specifically, the industrial production index increased by 25.1 percent; the total retail sales of goods and services rose by 28.82 percent; the total import-export value reached US$1.908 million, up 15.82 percent. Also in January, the province attracted two investment projects with the total registered capital of VND563 billion.

Despite positive results, in order to overcome the general difficulties of the economy, the People’s Committee of Bac Kan Province has determined that from the early months of the year, it must focus on directing the vigorous implementation of resolutions of the Government, the Provincial Party Committee, and the Provincial People’s Council on socioeconomic development in 2024 with the highest political determination and responsibility, striving for a growth rate of 6.5 percent in the first three months (agro-forestry-fishery to grow by 5.04 percent; industry and construction 9.69 percent; and services 6.1 percent).

In the first quarter of 2024, Bac Kan will focus on directing and mobilizing farmers to harvest crops grown in winter 2023 and expedite the spring crop of 2024 to promote agricultural products. It will implement the forest planting plan for 2024 and launch a tree planting festival in conjunction with the program to plant one billion green trees, along with exploiting non-timber forest products. At the same time, the province will effectively implement the industry promotion program, accelerate the construction of technical infrastructure for industrial clusters, and resolve difficulties facing industrial production facilities. It will urge the rapid progress of major industrial plants to commence operations immediately after the Lunar New Year holiday. It will continue to attract investment in infrastructure development for industrial clusters, prioritizing projects funded by private capital sources.

In addition, there will be an emphasis on attracting non-budget investment projects and accelerating public investment projects and the ones using non-budget capital sources. Provincial units and investors will be guided to implement projects vigorously, highlighting the roles and responsibilities of project leaders in all phases, from investment preparation and compensation for site clearance to project implementation. Trade promotion programs and plans will be implemented. The province will continue its support for enterprises and cooperatives to promote their brands and increase sales. Budget collection will be strictly guided to prevent losses. Quarterly budget collection plans will be devised. Along with supporting enterprises, Bac Kan will strengthen the operations of cooperatives and improve the investment and business environment in a bid to enhance the provincial competitiveness index.

The People’s Committee of Bac Kan Province has recently announced an economic growth scenario for 2024, targeting a growth rate of 6.5 percent in the first three months, over 7.2 percent in the first six months, over 8.5 percent in the first nine months, and over 8 percent for the whole year. The value of industrial production is expected to reach VND2.08 trillion, 16 percent higher compared to that in 2023. The total retail sales of consumer goods and services are aimed to increase by 4.5 percent compared to 2023.
Linh Nhi

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