Binh Thuan: Propelling Economic Advancement through Three Pillars and Three Breakthroughs

2:16:11 PM | 26/1/2024

In the course of executing the resolution of the 14th Provincial Party Congress (2020 - 2025 term), Binh Thuan province has garnered remarkable achievements across various sectors, characterized by a substantial increase in economic scale and potential, and a steadily improving quality of life for its residents. Mr. Doan Anh Dung, Chairman of the Binh Thuan Provincial People’s Committee, said: “To attain this success, the Provincial Party Committee has directed the consistent and rigorous implementation of numerous solutions, strived to unlock all potential advantages to robustly mobilize resources for economic development and investment attraction, thereby catalyzing local development”.

Could you elaborate on the significant accomplishments that Binh Thuan province has achieved in the first half of the term?

Under the direction of the Provincial Party Committee, the authorities, sectors, and localities of Binh Thuan province have executed key objectives and tasks, resulting in significant and comprehensive socioeconomic development outcomes. Binh Thuan’s economy has swiftly rebounded and expanded in the aftermath of the COVID-19 pandemic. The province’s Gross Regional Domestic Product (GRDP) growth was estimated at 8.1% in 2023, ranking 14th out of 63 provinces and cities nationwide.

The economic structure has transitioned toward a growing proportion of industry and services. For the first time, Binh Thuan province has been recognized among the top 10 most developed tourism localities in the country. Several local potential advantages have been effectively unlocked and promoted. Economic sectors have developed in a relatively balanced manner, with serious investment in industrial zone infrastructure.

Resources for development investment have been increasingly mobilized, with a focus on promoting the investment fund for essential infrastructure systems. Authorities have been attentive in resolving challenges and obstacles for businesses, thereby fostering a favorable investment environment.

There have been positive advancements in science and technology, healthcare, education, culture, and information and communication. Social security policies have been fully and promptly implemented, leading to continuous improvements in people’s lives. The province has been diligent in managing natural and mineral resources, preventing natural disasters and epidemics, and protecting the ecological environment. National defense and social security have been prioritized. All forms of crimes and social evils have been prevented and eradicated, ensuring the maintenance of social order and safety.

National Assembly Chairman Vuong Dinh Hue convenes a working session with Binh Thuan provincial leaders, March 2023

Could you summarize the initial results of developing the three economic pillars and implementing the three breakthrough stages?

In the pursuit of developing the three economic pillars, despite the adverse impacts of the COVID-19 pandemic, the province’s economy has demonstrated early recovery across all three pillars: Industry, tourism, and agriculture. The restructuring of the economy is progressing appropriately, with an increased share of industry, construction, and services, and a declining share of agriculture.

Industrial production in 2023 witnessed a growth of 19.51% from 2020, amounting to VND40,610.9 billion. The industry continued to undergo restructuring, attracting numerous large-scale industrial investment projects, particularly in the energy sector (LNG gas terminal: VND31,434 billion; BOT Son My I thermal power plant: VND47,464 billion; and Son My II thermal power plant: VND49,509 billion).

Tourism exhibited a swift recovery after the COVID-19 pandemic. During the 2021-2023 period, the province welcomed over 15.8 million visitors, comprising 340,000 international visitors and 15.5 million domestic visitors. The revenue from tourism totaled VND40,139 billion. Agricultural production remained stable, with the province prioritizing the prevention of diseases for crops and animals, and the management and protection of forests and aquatic resources. The implementation of new rural construction continued, with 74 out of 93 communes currently recognized as meeting new rural development standards.

In terms of making breakthroughs in enhancing personnel quality, the province has made strides in human resource training and development. Trained workers accounted for 73% in 2023, with 30.4% possessing professional degrees. Universities and colleges in the province have implemented approved training programs and plans; actively broadened training majors to meet local needs; and collaborated with other universities to introduce various training forms (centralized, on-the-job study, and distance learning). Vocational schools have flexibly enrolled students in numerous forms, enabling them to surpass their enrollment targets and plans. Binh Thuan has also concentrated on personnel training for both governmental agencies and companies.

With respect to public investment and social investment resources for technical infrastructure and digital technology infrastructure, Binh Thuan has intensified scientific and technological research and application in production development and livelihood improvement. In the 2021-2023 period, the total social capital for development investment reached VND122,262.84 billion, with an average annual growth of over 12%. The province has also enhanced foreign cooperation and investment promotion, resolved difficulties and problems for enterprises, and improved the business investment environment. Indeed, Binh Thuan has attracted capable and experienced investors, especially in tourism and energy.

Medium-term and annual public investment plans are more stringent. The province has prioritized the fund for completed projects or transitional projects; and accelerated land compensation and site clearance. In particular, priority has been given to important, key, urgent transport, irrigation, residence, resettlement, education, healthcare, and cultural projects, and national target programs. The province has regularly directed investors to expedite the progress of projects and disburse the allocated fund, especially key projects. On a monthly basis, the province has reviewed and evaluated the progress to promptly remove obstacles and difficulties and accelerate implementation progress and public investment disbursement.

The province has accelerated its digital transformation to establish a digital government, develop the economy, and foster rapid and sustainable production/business operations powered by science, technology, innovation, and high-quality human resources. It has also constructed a data strategy, ensured a safe and reliable cyberspace, and mastered digital technology. Binh Thuan province has concentrated on scientific and technological research, application, and transfer, and supported equipment and technology innovation in production and life. It has boosted industrial, agricultural, and fishery extension programs, supported the formation of intellectual property rights, built and protected brands for local specialties, participated in voting for national quality awards, and created a foundation for business startup, branding, and increased added value for businesses and communities during the period of integration and development.

In terms of administrative procedure reform, to form an open and attractive investment and business environment, authorities at all levels and branches have directed and conducted administrative reform tasks in all fields in a complete, synchronous, drastic, and comprehensive manner. They have continued to implement solutions to address existing weaknesses of the PAR Index, SIPAS Index, PAPI Index, and PCI Index, stepped up the digitization of administrative records and results, and effectively applied e-government and digital transformation plans. They have also interconnected information systems and database infrastructure.

Leaders of the Provincial People’s Committee, heads of provincial agencies, and leaders of District/Town/City People’s Committees have intensified their efforts to remove difficulties and obstacles for investors and businesses when they conduct investment, production, and business in the province. They have upheld public service responsibility and ethics in performing tasks and serving the people in State administrative agencies at all levels. They have trained and fostered the capabilities, skills, and performance of public employees, bolstered the performance and streamlining of the State apparatus, focused on directing and resolving outstanding lingering issues and pressing issues emerging in socioeconomic development, and strictly handled civil servants, especially agency leaders, for detailed or prolonged task implementation.

Binh Thuan, recognized as one of Vietnam’s regions with the most substantial wind energy potential, is actively soliciting investments to foster the growth of its wind power sector

To realize rapid and sustainable development, Binh Thuan requires the collaboration of investors, both local and international. How does the province plan to effectively mobilize these resources?

Maximizing the mobilization of all resources for socioeconomic development is identified as one of the paramount tasks for Binh Thuan in the forthcoming period. Specifically, concerning the State fund, the province is committed to sustaining growth as planned, implementing measures to stimulate savings and augment production investment; effectively collecting taxes and fees for the State budget. This involves reforming administrative procedures related to budget collection, enhancing the quality of service to taxpayers and individuals from all walks of life; ensuring rigorous management, inspection, and control of financial activities of taxpayers to fully and promptly collect taxes and fees for the budget; and amplifying the efficiency of public investment capital.

The province will effectively utilize natural resources, land, and public assets; actualize mechanisms and policies to create a favorable legal corridor to stimulate real estate transactions; expedite the process of determining specific land prices to collect land use fees for projects and issue land use rights certificates in the province; auction land to augment revenue for the State budget; and solidly balance the provincial budget. In addition to development investment spending, the province will concentrate on prioritizing the budget for crucial socioeconomic development tasks and intensify the socialization of health, education, training, culture, sports, science and technology, environment, and other fields.

Regarding socialized investment capital, the province will concentrate on ensuring robust enforcement of the Investment Law and the Enterprise Law; broaden channels and measures to mobilize socialized investment capital, with special attention to measures to attract FDI funds; encourage and facilitate companies to expand production, seek consumption markets, and search for joint venture partners; expand credit and banking activities, provide preferential loans to businesses with favorable mechanisms; facilitate businesses to operate effectively and fulfill their obligations to pay to the state budget.

Binh Thuan is set to bolster investment promotion and administrative reforms, enhancing the investment environment. The province will focus on attracting capital and facilitating large corporations to invest in sustainable business, prioritizing experienced investors in industries like energy, high-tech, tourism, and urbanization.

Simultaneously, Binh Thuan will expedite infrastructure development, including industrial zones, transport systems, and urban facilities. The province will introduce new incentive policies for investment, business startup, technological innovation, and industrial and tourism development. It will simplify administrative procedures, apply supportive policies for investors, and assist in site clearance to expedite project progress.

Thank you so much!

By Cong Luan, Vietnam Business Forum