Ba Ria - Vung Tau Sees Comprehensive Growth

The Ba Ria - Vung Tau People’s Committee said the local total industrial value (excluding oil and gas) was estimated at VND34,533 billion in the first nine months of 2009, fulfilling 67.28 % of the full-year target and increasing 9.34 % from the same period of 2008.

 

With more than 60 % in GDP, the recovery of the industrial sector will considerably affect other sectors. The revival is more meaningful when the industry is the most seriously affected by the global economic crisis, with sharp slump in the first months of the year and slightly rebound in the middle of the year.

 

To date, the province is seeing growths in production value of 17 out of 23 industrial products. With the current progress, the industrial production will further expand in the last three months of the year. Several heavy industrial factories like electricity, fertiliser and cement have been completed technical maintenance in the third quarter; thus, production will increase in the coming months and the provincial GDP will expand more strongly.

 

The trade and service sectors also progressed in the third quarter. Stimulus measures like “promotion month” or “buy Vietnamese” and rural sales programme have brought in effective results, sending the service - commercial revenues to VND46,800 billion, up 18.08 % year on year and equal to 70.49 % of the full-year plan. Port services grew 20.38 % year on year, with a total cargo throughput of 17.5 million tonnes in the year to date. Especially, SP-PSA and Tan Cang Cai Mep, which started operations in late June, have served 130 foreign ship calls with 1,740,450 tonnes of cargo handled. Agricultural, forestry, fishery and salt production increased from the same period of last year. Disease outbreaks in crops and animals were successfully contained.

 

These impressive achievements were attributably the results of sound economic development policies to wake up untapped potentialities and strengths.

Ba Ria - Vung Tau province is making shortcut to its development targets by making use of its potentialities and advantages. Industry, tourism and commercial service will be the three backbone areas.

 

The Provincial People’s Committee determined to focus on two urban solution packages to avert economic slump to maintain growth and ensure social security: Boosting production and export, and expanding infrastructure construction investment. The Department of Industry and Trade has intensified market inspections and supervisions to prevent speculation, smuggling and trade fraud. It has also checked business assistance policies to propose solutions to tackle difficulties for enterprises to expand production and business activities. It has also helped exporters to seek markets and local producers to boost domestic sales.

 

One of urgent measures aimed at accelerating GDP growth is to encourage investment. As regards infrastructure construction investment, the immediate task is to focus on clearing site for new projects and revising capital plans of investment projects in 2009 to speed up implementation and capital disbursement activities. As regards development investment projects, competent organs and local authorities will support enterprises to solve difficulties and investors to carry out their projects. Besides, disqualified investors will have their licences revoked and the province will call other investors for those projects.