Promoting the progress of key projects, accelerating public investment disbursement, activating capital flows into the economy, attracting new investment projects, etc. are tasks and solutions that Ha Tinh continues to focus on implementing. These are considered important steps to free up resources, promote internal motivations to reach the target of GRDP growth of 8% in 2025.

In the first months of 2025, the Eastern Ring Road project of Ha Tinh City continued to accelerate the construction progress of sections with cleared land. The project has a total investment of VND 1,189 billion, of which phase 1 is VND 850 billion, and so far the construction volume has reached over 70%. Mr. Nguyen Danh Phong - Deputy Director of the Management Board of Investment and Construction Projects of Ha Tinh City said: "Along with the Eastern Ring Road project, the city is also focusing on directing the acceleration of the construction progress of key projects such as: Xuan Dieu Street extended from the Northern urban area perimeter road to Ngo Quyen Street, Phan Dinh Phung High School... The investor has a specific plan for the construction of the critical road and made a commitment on the implementation progress and disbursement for the projects, striving to achieve the goal of 100% disbursement rate with the province in 2025".

In the province, many projects with large total investment are being focused on by investors and contractors such as: the project to renovate and upgrade National Highway (QL) 8C, Thien Cam - QL 1 section and the section from QL 8 to Ho Chi Minh road with a total amount of 1,075 billion VND (the volume of implementation has reached 36%, expected to be completed in November 2025); the central main road connecting QL 1, avoiding Ky Anh town to the deep-water port cluster of Vung Ang - Son Duong with a total amount of 1,437 billion VND (the volume of implementation has reached 50%); the road from QL 12C to Formosa Ha Tinh Iron and Steel Complex with a total amount of 668 billion VND (the volume of implementation has reached 95%)...

Mr. Nguyen Minh Tuan - Director of the Provincial Economic Zone (EZ) Investment and Construction Project Management Board said: “From the beginning of the year, the unit has identified removing difficulties, accelerating the progress of newly started projects and disbursing 100% of the assigned capital as the key tasks. Accordingly, synchronously implementing solutions such as: coordinating with localities to accelerate site clearance, handing over clean sites to contractors; directing contractors to increase human resources and machinery to accelerate construction progress; reviewing documents of pending and problematic projects to report to the Provincial People's Committee, advising on handling plans".

THE RESULTS OF PUBLIC INVESTMENT CAPITAL DISBURSEMENT BY MARCH 31 OF HA TINH REACHED ABOUT VND 1,027 BILLION, ACHIEVING 23% OF THE PLAN, BEING IN THE GROUP WITH THE BEST DISBURSEMENT IN THE COUNTRY.

In addition to accelerating the construction of transitional projects, for new projects allocated capital in 2025, investors focus on completing bidding and contract award procedures according to regulations to have enough conditions to start construction and pay the capital plan right in the first months of the year. As of early April, Ha Tinh's public investment disbursement reached 17% of the capital plan assigned by the Prime Minister, higher than the national average (9.53%) and ranked 19th out of 110 ministries, branches and localities. Ha Tinh determined to take public investment as the leader, activate and attract all social resources and requested all levels and branches to prioritize leadership and direction.

Along with unlocking public investment capital, creating the most favorable conditions for enterprises to implement projects to ensure progress is also an important step, expected to create a breakthrough for economic growth. In Ky Anh town - a key area for large projects of the province, the locality is focusing on thoroughly handling outstanding issues and handing over land for ongoing projects. In particular, closely following and promoting the progress of dynamic projects such as: projects of Vingroup Group in Ky Thinh ward, Ky Trinh ward, Ky Loi commune; seaport and logistics projects in Ky Loi commune; projects: electricity in Ky Phuong ward, service development, tourism in Ky Ninh and Ky Nam wards... In other localities, site clearance work is also directed strongly to soon have land handed over to investors, construction meets progress such as the North-South expressway project, Gia Lach Industrial Park expansion infrastructure project, Nam Cau Phu Urban Area project...

Identifying the difficulties of each project and focusing on resolving them, for the VSIP Ha Tinh Industrial Park project, the Provincial People's Committee has issued a document directing relevant departments, branches and investors to focus all resources and solutions, urgently implementing investment to complete the project on schedule. Working closely with investors to remove related difficulties and obstacles, departments and branches are focusing on solving the problem of filling material sources for project construction. According to information from the Department of Agriculture and Environment, the province currently has 20 filling mines with a total reserve of 29 million ^m3 . Based on the demand report provided by the Department of Construction, the Department of Agriculture and Environment is evaluating, surveying and selecting potential filling mines to include in the auction plan in the coming time, solving the shortage of filling materials. It is expected that in the near future, the Department of Agriculture and Environment will advise the Provincial People's Committee to include in the auction plan 9-12 land fill mines, an increase of about 13 land fill mines compared to 2024. Removing this "bottleneck" will not only solve difficulties in the construction of key projects but also overcome the shortage of materials that has caused many projects and construction works to be delayed.

Mr. Nguyen Trung Thanh - Deputy Head of the Ha Tinh Statistical Office said: "The Provincial People's Council has issued a resolution to adjust a number of indicators, including adjusting the total social investment capital to over VND 50,000 billion, an increase of VND 6,000 billion compared to the initial growth scenario of 7%. The encouraging result is that in the first quarter of 2025, the total social investment capital reached over VND 12,200 billion, an increase of more than 12% over the same period in 2024, contributing to making the construction sector a bright spot with a growth rate of 15.5%, higher than expected.

This is an important premise for the industrial and construction sector to achieve a growth rate of 10.15%, contributing 4.5 percentage points to growth, of which the construction sector increased by 0.27%, contributing 0.03 percentage points to growth...”.

The flow of bank credit capital is considered a "medicine" to support the economy, promote investment, export, and consumption. In the first months of the year, many banks have simultaneously adjusted to reduce deposit interest rates, contributing to "pulling" down lending interest rates, supporting economic recovery and development. According to the assessment of the State Bank of Vietnam, in the first quarter, the deposit interest rate level remained stable, and a number of credit institutions reduced interest rates to help people and businesses easily access credit capital to develop production and business. By the end of the first quarter, the mobilized capital in the province reached about 112,420 billion VND, an increase of 3.5% and outstanding loans reached about 111,000 billion VND, an increase of 2% compared to the end of 2024. Of which, outstanding loans to enterprises currently reached nearly 33,900 billion VND, accounting for over 30% of the province's total outstanding loans. Many credit institutions in the area have reduced their deposit interest rates, such as: Bac A Bank Ha Tinh has adjusted deposit interest rates down three times with a total reduction of 0.4%/year; MSB Ha Tinh has reduced deposit interest rates twice with a total reduction of 0.5-0.8%/year depending on the term and amount of deposit; MB Bank has launched many credit packages with preferential lending interest rates for production and business, short-term loans with interest rates from only 5.75%/year, medium and long-term loans with interest rates of about 9%/year...



TO REMOVE BOTTOM LINES AND FOR ENTERPRISES TO QUICKLY ACCESS CAPITAL WHEN NEEDED, BANKS NEED TO CONTINUE TO IMPROVE THE LOAN PROCESS, SIMPLIFY PROCEDURES, SHORTER APPROVAL TIME, AND HAVE LOAN REGULATIONS SUITABLE TO THE SPECIFIC CHARACTERISTICS OF SMALL AND MEDIUM ENTERPRISES.

MR. LE DUC THANG - Chairman of Ha Tinh Business Association

Mr. Le Duc Thang - Chairman of the Provincial Business Association said: “The reduction in interest rates by banks at the beginning of the year is a good thing for the business community. However, to remove bottlenecks and help businesses quickly access capital when needed, banks need to continue to improve the loan process, simplify procedures, shorten approval times, and have regulations on loans suitable to the characteristics of small and medium enterprises. Thus, the reduction in interest rates will truly be effective in supporting businesses.”

Accompanying and supporting businesses to overcome difficulties and promote economic growth in 2025, the Government continues to extend and increase programs on tax and fee exemption, reduction and deferral. According to the representative of the Tax Department of Region XI, in the first quarter, in Ha Tinh, the tax sector has exempted and reduced more than VND 323.6 billion according to the policy of reducing environmental protection tax on gasoline, oil, grease and the policy of reducing 2% value added tax.

REDUCED TAXES LEAD TO A REDUCTION IN THE PRICE OF GOODS, INCREASED PURCHASING POWER, THEREBY PROMOTING THE DEVELOPMENT OF ENTERPRISES' PRODUCTION AND BUSINESS.

MS. PHAM THI HIEP DINH - Deputy Director of Co.opmart Ha Tinh Supermarket

Ms. Pham Thi Hiep Dinh - Deputy Director of Co.opmart Ha Tinh Supermarket shared: "In the context of difficult production and business activities, high production costs, and signs of slowing purchasing power, the Government's policy of reducing VAT by 2% has significantly contributed to increasing aggregate demand. Tax reduction leads to a decrease in selling prices of goods, an increase in purchasing power, thereby promoting the development of production and business of enterprises".

In addition to supporting and providing capital for economic development, continuing to promote the attraction of investment projects in the area is also a strategic solution to create leverage for breakthroughs. Along with investment promotion activities, the province focuses on improving the investment and business environment, reforming administrative procedures, improving the Provincial Competitiveness Index PCI, the Public Administration Reform Index (PAR index), the Provincial Governance and Public Administration Performance Index (PAPI) ...; effectively promoting working groups to review and remove difficulties and obstacles for projects, unlocking resources, contributing to the growth target of the locality. Typically, the Provincial Economic Zone Management Board has strongly reformed administrative procedures, shortening the time for granting investment licenses to 2/3 of the prescribed time, much lower than the national average. Thereby, contributing to improving the provincial competitiveness index, creating satisfaction and trust for investors.

In recent times, Ha Tinh has also focused on training and developing high-quality human resources, strengthening the connection between supply and demand, developing the labor market to meet the needs of enterprises; ensuring security and order for projects to be implemented smoothly. Mr. Nguyen Minh Hien - Deputy Director of Ha Tinh Employment Service Center said: "In the first quarter of 2025, the center conducted a survey of 577 enterprises, of which 204 enterprises had recruitment needs with a recruitment demand of 11,818 people. The center also organized 27 job fairs, including 11 career orientation sessions for students and demobilized soldiers at units and localities... As a result, 1,113 workers were recruited by enterprises".

UP TO NOW, THE WHOLE PROVINCE HAS 1,560 PROJECTS WITH A TOTAL CAPITAL OF 538,000 BILLION VND, INCLUDING 71 FDI PROJECTS WITH A CAPITAL OF 16 BILLION USD.

According to the Department of Finance, up to now, the province has 1,560 projects with a total capital of VND538,000 billion, of which 71 FDI projects have a capital of USD16 billion. All levels and sectors continue to urge the progress of projects signed at the Conference to announce the Provincial Planning and promote investment. Currently, many large-scale projects are implementing procedures to move towards approval of investment policies such as: The Southwest Sports Tourism Service Trade Zone of Thach Ha District (consulting the Ministry of Construction on the planning project); Thinh Loc International Golf Course and Resort Complex (Thach Ha)...

Mr. Le Trung Phuoc - Head of the Provincial Economic Zone Management Board said that the investment projects have contributed to promoting local socio-economic development, solving labor needs and increasing budget revenue in the area. Along with the battery factory system that has been put into operation, when the electric car factory comes into operation, it will supplement growth resources for the province. Another good sign is that recently, the Vietnam Gas Corporation has proposed investing in the North Central LNG gas storage project in Vung Ang Economic Zone with a total investment of more than 26,735 billion VND. Currently, many enterprises are also researching and surveying investment to continue to open up great prospects for growth from 8% in 2025, while creating a solid foundation for Ha Tinh and the whole country to achieve double-digit growth in the coming years.

ARTICLE, PHOTOS: DINH TRUNG - NGOC LOAN - THAI OANH
DESIGN: HUY TUNG

(To be continued)

Growth target from 8% (part 1): Expecting resilience in key economic sectors

The problem of increasing growth percentage points for key economic sectors such as industry, trade and services and agriculture, contributing to realizing the overall growth target of 8% for the whole year, is being solved by all levels and sectors with the motto of innovation, breakthrough, creativity, proactiveness, daring to think and daring to do.

Source: https://baohatinh.vn/muc-tieu-tang-truong-tu-8-bai-2-khoi-thong-cac-dong-von-giai-phong-nguon-luc-post285973.html