Thai Nguyen Adapting Flexibly, Ready for Breakthrough

Effectively preventing the epidemic and ensuring business activity, Thai Nguyen has successfully completed its goals and plans in 2021. This is an important motivation for the province to carry out its tasks in 2022 and beyond, with the focus on supporting businesses, improving the business environment and attracting investment flows.

Leading light in disease prevention and control

Surrounded by Hanoi and some provinces that used to be complicated pandemic sites like Bac Giang and Bac Ninh, and having a large number of migrant and foreign workers, Thai Nguyen province is exposed to high COVID-19 pandemic risks. Therefore, the province defined pandemic prevention and control as an urgent and top priority task despite difficulties and resource requirements.

As soon as the COVID-19 pandemic broke out, the province quickly and actively adopted practical measures suitable to specific local situations. It was particularly consistent with pandemic prevention measures, based on “pandemic prevention - detection - isolation - zoning - elimination” solutions and four localized principles (workers, managers, means and logistics onsite). The Executive Board of the Provincial Party Committee and the Provincial People's Committee issued many documents to lead and direct urgent measures to prevent and control the COVID-19 pandemic. The province also established a steering committee for COVID-19 pandemic prevention and control, led by the Chairman of the Provincial People's Committee.

In particular, with the spirit of "fighting the pandemic like fighting the enemy", at the second meeting session, the 14th Provincial People's Council (2021-2026 term), decided that every month Thai Nguyen province will give financial support of VND5 billion for the labor force working against the COVID-19 pandemic in the province and this support may be increased, depending on the pandemic development. In addition, the COVID-19 vaccination was also effectively carried out by the health sector, helping Thai Nguyen basically control the disease.

In addition to pandemic prevention, the province adopted many people and business support policies, including the establishment of a special working group directly led by the Chair of the Provincial People's Committee to monitor this task. Besides the Government's support package, many specific policies have also been launched by Thai Nguyen province, including support for people, workers, officials and manufacturing enterprises. With its right approach, the support has been flexibly and effectively applied by sectors, units and localities.

By keeping the province safe against the pandemic, facilitating and supporting businesses in a timely manner, despite numerous difficulties, Thai Nguyen still successfully completed the goals set for 2021. 25 targets achieved and exceeded the annual plan, with 15 surpassing the targets. The province’s economic growth was estimated at 6.56%, double the national average. The gross regional domestic product (GRDP) per capita was estimated at VND95.1 million; State budget revenue was estimated at VND17,700 billion, 45% higher than assigned by the Ministry of Finance and 13% higher than the target set by the Provincial People's Council; and the value of industrial production, export, agriculture, forestry and fishery all exceeded the plan.

In addition to economic development, the province allocated the budget for this work right from the beginning of the year. The public investment disbursement reached over 143% of the plan assigned by the Government, helping industrial and construction growth and the province's GRDP growth, compensating for trade and services affected by the COVID-19 pandemic. Moreover, social security policies are fully and timely implemented. The poverty rate in the province decreased by 0.65% to 2.17% compared to 2020.

Extending growth momentum

As of the end of 2021, Thai Nguyen province had 169 FDI projects with a total registered capital of US$9.67 billion. There are 856 valid domestic investment-funded projects (not sourced from the budget) with registered capital of over VND150 trillion. The province is also a "red address" for domestic investors with more than 8,000 active businesses which registered with over VND 120 trillion of investment.

To make this achievement, apart from local potential and advantages such as location and natural resources, Thai Nguyen is one of a few northern mountainous provinces that have strongly invested in infrastructure. The province has effectively used State-funded investment capital and prioritized this capital for infrastructure construction. Expressways and roads linking localities inside and outside the province are built, upgraded and expanded for smooth and uninterrupted connectivity, helping boost the economy. Typical routes include 47-meter wide Hanoi - Thai Nguyen Highway, roads interlinking industrial zones, Thai Nguyen - Cho Moi Road, extended Bac Son Road and Viet Bac Road.

Together with synchronous infrastructure, the province's initiative to create a favorable investment environment has made Thai Nguyen an attractive destination for investment capital flows. Thai Nguyen is among the Top 15 provinces and cities with the best Provincial Competitiveness Index (PCI) 2020, ranking No. 11 out of 63 localities.

Trinh Viet Hung, Chairman of Thai Nguyen Provincial People's Committee, said that 2022 is the pivotal year to implement the Resolution of the 11th Provincial Party Congress. Thai Nguyen province will strive to complete and exceed its targets. Specifically, the GRDP growth is expected at 8%; industrial and handicraft production growth at 9%; export growth at 9%; GRDP per capita at VND105 million; and State and budget revenue at VND18,000 billion.

In order to accomplish these goals, in the coming time, Thai Nguyen will continue to flexibly and effectively implement the dual goals of both pandemic prevention and socioeconomic development; carry out action programs of the Provincial Party Committee; the five-year socio-economic development and public investment plan 2021–2025; and the provincial master plan approved by the Prime Minister.

At the same time, the province will actively improve the investment environment and create a driving force for socio-economic development. It will develop agriculture and rural areas, ensure social security, sustainable poverty reduction, national defense, security and order. Furthermore, it will strengthen the capacity to analyze, forecast and closely monitor international, regional, domestic and provincial developments to take appropriate and timely countermeasures so as not to be passive or shocked," he emphasized.

By Vietnam Business Forum