Socio-economic situation of Vinh Phuc province in the first 6 months of 2022

Vinh Phuc province carried out the socio-economic development task in the first 6 months of 2022 in the context of the widespread epidemic situation in the first quarter, which greatly affected business activities, especially the service sector; In the second quarter, the Covid-19 epidemic was gradually controlled; production and business gradually returned to normal; the socio -economic situation of the whole country had many positive changes, especially the tourism service industry. Besides, there were also many difficulties and challenges, especially the impact of the Russia-Ukraine conflict along with the consequences of the COVID-19 pandemic, which caused oil and gold prices to increase; China’s Covid-19 epidemic prevention policy continued to affect the flow of goods between China and countries around the world, including Vietnam; In the country, the weather situation has been increasingly abnormal, with severe cold and heavy rain causing flooding, damage to people, property, rice, and crops of the people…

In the context of both advantages and difficulties, the Provincial People’s Committee has closely followed the directions of the Central Government, the Provincial Party Committee, the Provincial People’s Council on socio-economic development, on accelerating the disbursement of public investment capital, on improving the investment environment, supporting citizens and businesses to flexibly adapt to the pandemic, on implementing social security policies… promptly directing and handling difficulties in the implementation process. With the determination of the entire Party Committee, government and people in the province, the socio-economic situation in the first 6 months of 2022 of the province has had a very positive recovery, economic growth and budget revenue have increased quite well, social policies and social security have been ensured, national defense and security have been maintained, specifically as follows:

The total product in the province (GRDP at 2010 comparative prices) in the first 6 months of 2022 is estimated to increase by 10.1% over the same period last year and is in the TOP 10 provinces with the highest growth rate in the country, of which: The industrial – construction sector increased by 15.58%; The agricultural, forestry and fishery sector faced difficulties due to high animal feed prices and the impact of severe cold spells from February to April 2022 and widespread heavy rains causing flooding at the end of May 2022, the total added value is estimated to increase by 1.81%; The service sector, especially trade, transport and tourism services, faced difficulties in the first months of the year due to the rapid spread of the Covid-19 epidemic. Since the second quarter, thanks to the effective implementation of epidemic prevention and control measures and flexible adaptation, this sector has gradually recovered, with an estimated added value increase of 6.32% over the same period and product taxes minus product subsidies estimated to increase by 3.85% over the same period.

Total state budget revenue in the locality in the first 6 months of 2022 is estimated at VND 20,650 billion, reaching 65% of the estimate, up 8.0% over the same period in 2021, of which domestic revenue reached VND 17,700 billion, reaching 65% of the estimate, up 7.0% over the same period last year. Budget expenditure management has been strengthened, expenditures have been strictly controlled, expenditures have been managed according to estimates, savings have been practiced, and waste has been prevented. The province has supplemented funds and issued payment instructions for Covid-19 prevention and control. Estimated total local budget expenditure in the first 6 months reached VND 7,024 billion, reaching 39% of the estimate and equal to 93% over the same period in 2021.

DDI domestic investment attraction is estimated at 7,743.46 billion VND, up 17.8% over the same period in 2021. FDI attraction alone is low at 225.47 million USD, equal to 76% over the same period in 2021. The number of newly registered enterprises as of June 15, 2022 reached 663 enterprises, up 18.3%, up 1.6% over the same period, the registered capital reached over 6,568 billion VND, up 0.07% in registered capital over the same period in 2021. The number of enterprises returning to the market has a positive trend with 263 enterprises, up 7% over the same period last year.

Credit growth was quite good, total outstanding loans increased by 10.74% (equivalent to an increase of VND 10,960 billion) compared to the end of 2021 and increased by 17.76% compared to the same period in June 2021. The credit structure focused on production, business, services and development investment activities (accounting for 86.2% of total outstanding loans); loans to non-production sectors and real estate sectors were at 10.3% and 11.97% of total outstanding loans. Credit quality was controlled, limiting the emergence of new bad debts, bad debts decreased by 0.49% compared to December 2021, accounting for 0.72% of total outstanding loans.

Industrial production increased significantly compared to the same period last year. The index of industrial production (IIP) in the first 6 months of the year increased by 15.6% over the same period in 2021, of which: the manufacturing and processing industry increased by 15.75%; the production and distribution of electricity, water, gas, etc. increased by 7.9%; the water supply, wastewater and waste management and treatment industry increased by 8.39% over the same period in 2021, while the mining industry decreased by 27.03% over the same period in 2021.

Agricultural, forestry and fishery production: The cold spell, heavy rains causing flooding and input prices have greatly affected the province’s agricultural production in the first 6 months of 2022. It is estimated that in the first 6 months of the year, the total area planted with annual crops decreased by 0.11%, the output of grain food decreased by 18.61% compared to the same period in 2021. The productivity of some crops decreased, of which rice productivity decreased by 21.22%, corn decreased by 4.81%, and vegetables of all kinds decreased by 15.82%. The output of livestock products grew quite well compared to the same period, of which fresh cow’s milk output increased by 14.71%; pork output increased by 6.3%; poultry meat output increased by 3.62%; poultry eggs increased by 6.22%. The province has planted an estimated 470.5 hectares of new concentrated forests, an increase of 3.41% (equivalent to an increase of 15.5 hectares) over the same period; the number of scattered trees is estimated at 542 thousand trees, a decrease of 24.78% over the same period. The aquaculture area decreased by 0.13%, and the aquaculture output increased by 0.59% over the same period last year.

Service sector: Total retail sales of goods and consumer service revenue is estimated at VND 30,563 billion, up 14.27% over the same period, of which retail sales of goods are VND 27,463 billion, up 14.32%; revenue from accommodation and catering services is VND 1,903 billion, up 19.69%; other service sectors are VND 1,182 billion, up 7.25% over the same period. The total number of tourists in the province is estimated at more than 4.2 million, up 109.7% over the same period, including more than 36.65 thousand international visitors and more than 4.16 million domestic visitors, tourism revenue is estimated at VND 1,792 billion , up 93.3% over the same period. Revenue from transportation, warehousing and support services is estimated at VND2,295.7 billion, up 22.5% over the same period last year.

Cultural, informational and sports activities were organized with relatively rich and diverse content and forms, suitable to the development of the Covid-19 epidemic situation in the area. The province has prepared well and successfully organized the two sports of Muay and Golf within the framework of the 31st Southeast Asian Games (Seagame 31).

Teaching and learning activities in the first 6 months of 2022 were flexibly implemented according to the epidemic situation, the quality of education continued to be improved, in the 2022 National Excellent Student Competition, Vinh Phuc had 8 first prizes, ranking 3rd in the country in the number of first prizes of the competition and especially the province had 2 students participating in the International Mathematical Olympiad (IMO) and the Asia-Pacific Physics Olympiad (APhO) in 2022.

Medical work and health care for the people continue to be focused on, the implementation of measures to prevent and control the Covid-19 epidemic has been effectively implemented, the epidemic situation in the province has basically stabilized. Population health programs have been well implemented. Many new and modern techniques are being deployed in disease treatment.

Employment and poverty reduction are focused on. The province has created jobs for more than 9,900 workers, reducing the poverty rate to 1.36%. Policies for people with meritorious services and their relatives are guaranteed .

National defense and security are ensured: The provincial armed forces have well implemented the tasks of training, fostering national defense and security education for the subjects, completed 100% of the military recruitment targets, well organized the KVPT drills in Binh Xuyen district as a model for the Military Region, and well organized commune-level defense combat drills. The political security situation and social order and safety in the province continue to be maintained stably./.