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Focus on growth solutions

(News Portal – Dong Nai) - Entering the last quarter of 2023, the production and business situation of enterprises nationwide as well as Dong Nai is still uncertain. However, there are still highlights in development, as some businesses have begun to receive orders again. 

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Promoting growth in the last months of the year is an urgent task. In the photo, production activity at an animal feed enterprise in Bau Xeo Industrial Park 

In that setting, the Government as well as Dong Nai province continue to come up with programs and solutions to support businesses and promote economic growth at the end of the year.

Focus on the highlights

First of all, the country's macro economy is basically stable: inflation, public debt, Government debt, foreign debt, and state budget overspending are controlled; major balances of the economy are guaranteed. Economic and industrial growth gradually recovered, GDP increased by 4,24%; Consumer price index increased by 3,16%. Agriculture develops steadily and continues to maintain its role as the pillar of the economy.

In addition, the number of businesses entering and returning to the market seems to increase again, and business investment confidence continues to be strengthened. In the third quarter of 2023 alone, the country had nearly 60 thousand enterprises entering and re-entering the market, an increase of 18% compared to the same period in 2022. In the first 9 months of the year, Vietnam had 165 thousand enterprises, 1,2 times higher than average for the period 2018-2022. Business activities of enterprises in both the state and non-state sectors achieved positive growth over the same period and maintained good contributions to the budget.

In Dong Nai, the province's GRDP increased by 5,03% over the same period last year, a higher growth rate than the national average. Some highlights in the province's growth in the 9 months of this year are from the fields of agriculture, services, logistics... Of which, the total retail sales of goods and consumer service revenue in the 9 months of 2023 reached more than 193 trillion VND, an increase of nearly 13,4% over the same period last year. Revenue from transportation, warehousing services, and transportation support increased by more than 21,5% over the same period in 2022.

Focusing on solutions to support and promote growth

According to Mr. Pham Tan Cong, Chairman of the Vietnam Chamber of Commerce and Industry (VCCI), what businesses want right now is favorable conditions for accessing credit, while at the same time correcting and restoring the real estate market; promoting the implementation of policies to exempt and defer taxes, fees and other financial obligations with a reasonable period for businesses to recover... The Government has just issued Decision 25 to continue reducing land lease fee by 30% in 2023 is an urgent issue in order to promptly overcome some challenges for businesses.

Although Dong Nai province has a growth rate higher than the national average, this is still a low index in recent years, so in the last months of the year, great efforts are needed to promote growth. At the socio-economic conference in September and implementing tasks in the last months of the year, Acting Chairman of the Provincial People's Committee Vo Tan Duc requested departments and localities to proactively implement solutions to promote growth according to their assigned functions and responsibilities.

Accordingly, it is necessary to ensure that budget revenue and expenditure work is as effective as possible, paying close attention to handling tax debt; promoting administrative reform and improving the investment environment; removing obstacles in production and business activities; promoting digital transformation... Dong Nai province continues to use public investment to guide growth, as well as be more drastic in disbursement of public investment capital work. From there, the province can speed up the implementation of tasks related to key national projects such as Bien Hoa - Vung Tau expressway, Beltway 3 and the province's other key projects. ​

Author: Bao Nguyen

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