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Quarter I of 2021: Positive growth in all three key economic sectors (Stage 1)

The province's three key economic sectors all had positive growth, the gross domestic product in the first quarter of 2021 increased by 4.59% over the same period in 2020, 0.11% higher than the national average.


That is the result affirming the efforts and efforts of all levels, branches, localities, units, business community and all classes of people in the province from the beginning of the year until now, thereby creating momentum for the recovery and economic growth in the following quarters.

Production line of Hao Canh Porcelain Manufacturing and Trading Co., Ltd (Tien Hai industrial park). Photo: Minh Duc

Stage 1: Impressive beginning

The most prominent growth among the three key economic sectors of the province in the first months of 2021 is the industry and construction sector with an increase of 7.98%, of which industrial production alone increased by 8.81% compared to the same period of 2020. In the context of the resurgence of the Covid-19 epidemic in many provinces and cities across the country, including the neighboring localities of Thai Binh, it has significantly affected production and business activities of enterprises, business households in the province. But with the active participation of the whole political system in the prevention and control of the Covid-19 epidemic, the province has not recorded any Covid-19 infections in the community since the beginning of the year; Production and business activities of enterprises and people's activities are basically normal. From the beginning of the year until now, the whole province has 104 enterprises that have resumed operation after the period of suspension of production and business, 2.47 times higher than the same period; the number of newly established enterprises also increased by 10.3% with a total of 161 enterprises and 18 branches and representative offices, total newly registered capital of nearly 1,490 billion VND, increasing by 13.3% over the same period in 2020. By the end of the first quarter of 2021, the province has 7,726 enterprises, 901 branches and representative offices registered to operate with a total registered capital of over 92,500 billion VND.

Along with that, right after the Lunar New Year of 2021, the province held three important events, namely the Tra Ly bridge assembly under the investment project to build a coastal road in Thai Binh province, and the start of the investment project in building a road from Thai Binh city to the Thousand Bridge and announce the Prime Minister's Decision on investment policy on investment projects, construction and infrastructure business of Lien Ha Thai industrial - urban - service zones. At the same time, organizing a ceremony to launch enterprises to emulate and boost production and business in 2021, and organize working delegations of the Provincial Party Committee, People's Council and Provincial People's Committee to visit and wish New Year to a number of enterprises in the area. Since then, it not only creates an excited atmosphere to help officials, party members, people of all walks of life and the business community in implementing tasks, but also creates motivation to attract investors to invest in the province. The management of capital construction investment is also implemented in accordance with regulations at all levels, branches and localities. By the end of March 2021, the total investment in social development was estimated at 11,185 billion VND, reaching 19.5% of the year plan, increasing by 6.3% over the same period.

In the first quarter of 2021, the production value of the processing industry is estimated to increase by 7.7% over the same period in 2020. In the photo: Clam processing for export at Thai Binh Clam Co., Ltd. Photo: Manh Thang

Not only paying attention to implementing solutions for industrial and construction development, in the field of commerce and services, the province focuses on developing e-commerce services in the context of complicated developments of the Covid-19 epidemic, strengthen inspection of Covid-19 epidemic prevention and control at business establishments; seriously implement the plan to stabilize the market in the days before, during and after the New Year of 2021; at the same time, actively supervise the organization of the spring fair in 2021. Therefore, the trade and service sectors tend to recover well with an increase of 3.59% over the same period; total retail sales of consumer goods and services increased by 7.7% over the same period with an estimated value of VND 12,767 billion; export turnover increased by 4.5% over the same period with an estimated value of 373 million USD; import turnover increased 12.8% over the same period with an estimated value of 364 million USD.

In agricultural production, along with the proactive implementation of spring rice planting according to the developed scheme, from the beginning of the year until now, the whole province has converted over 433ha of inefficient rice land to other crops or aquaculture, building 190 large fields with a total area of ​​nearly 6,000 ha, of which more than 4,000 ha are consumed products. In addition, the whole province maintained stable livestock production with a 2.1% increase in production value, total estimate of 688,000 pigs with a 2.6% increase in the output of live pigs, and total poultry herd about 13.9 million heads with a 1.4% increase in meat production, a total of 56,600 buffaloes and cows with a 1% increase in meat production over the same period in 2020.

Thanks to the positive growth in all three key economic sectors, in the first months of 2021, despite the impact of the Covid-19 epidemic, the province's budget collection still achieved many positive results. By the end of the first quarter of 2021, the total local budget revenue is estimated at more than 6,537 billion VND, reaching 53.6% of the estimate, of which domestic revenue is estimated at 1,868 billion VND, reaching 29.8% of the estimate, equal to 115.7% over the same period. Since then, it has created resources to promote disbursement of public investment capital, especially capital disbursement for key works and projects in the province. By the end of the first quarter of 2021, the province's total disbursed capital for capital construction investment will reach VND 1,132 billion, reaching 47% of the 2021 plan. Along with that, the province also strives to implement solutions to improve the environment, investment, business, creating favorable conditions for businesses in the process of investing in the province. And one of the results demonstrating that effort is that recently, the Vietnam Chamber of Commerce and Industry (VCCI) and the United States Agency for International Development (USAID) have announced the provincial-level competitiveness index (PCI) in 2020. Accordingly, Thai Binh was ranked in the good group, ranked 25th out of 63 provinces and cities and ranked 5th out of 11 provinces and cities in the Red River Delta region with 64.02 points, increasing by 3 ranks compared to 2019. With that result, Thai Binh has had 4 consecutive years of increasing its rank in the PCI rankings.


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