Key works have been established in the locality, focusing on improving the business and investment climate

Vinh Long People’s Council, in late July, issued tasks for socioeconomic development across the rest of the year.

Key targets include a regional GDP growth rate of 8 per cent or higher, per capita regional GDP reaching VND84.3 million ($3,370) annually, and agriculture accounting for 31.85 per cent and non-agriculture holding 68.15 per cent of regional GDP.

The province also seeks to achieve total social investment capital reaching $2.87 million, total export-import turnover amounting to approximately $5.66 billion, the establishment of over 1,600 new enterprises, and an urbanisation rate of 16.5 per cent; among others.

The accompanying resolution was promulgated in the context of the sprint-to-the-finish intended for the province to successfully achieve the goals set out by the provincial Party Congress for the 2020-2025 term as well as the People’s Council’s plan for socioeconomic development for 2021-2025.

In line with the effective implementation of the tasks issued by Vinh Long People’s Council, which includes 24 targets across economic, socio-cultural, environmental, and defence-security sectors, the department will provide focused and practical advice.

“We will closely coordinate with relevant units and localities as investors to accelerate the completion and disbursement of public projects, prioritising key programmes and works commemorating Party congresses at all levels, with a determination to disburse all the planned public capital,” said Truong Dang Vinh Phuc, director of the provincial Department of Finance.

“In particular, we will collaborate with tax authorities to fulfil budget revenue targets, thoroughly save on recurrent expenditures, actively attract funding, and address and advise on resolving difficulties for investors and businesses”, Phuc added.

Together with the Economic Zone Management Board, it will lead and coordinate investment promotion efforts, as well as monitor, inspect, and supervise the implementation of projects in economic zones, industrial parks, and clusters, Phuc said.

Vinh Long will continue to implement synchronised directives from the provincial Party Committee and People’s Committee to create tangible progress in agriculture, farmers, and rural areas. Efforts will focus on enhancing the restructuring of agriculture, linked with rural development, the One Commune One Product programme, aquaculture development, irrigation works, and disaster prevention.

Emphasis will also be placed on digital transformation in the agriculture and environmental sectors. The province will closely monitor weather, hydrological conditions, and natural disasters while developing suitable agricultural and aquaculture production plans. The locality will establish a steering committee for power development and craft plans to inspect and accept key projects, such as the 110kV transmission line from the Vinh Long 3 substation, the Vinh Long-Vung Liem split-phase line, and the upgrading of the Tra Vinh-Duyen Hai transmission line.

Administrative procedures will be implemented in accordance with the decentralisation and delegation of authority, as regulated under the Ministry of Industry and Trade (MoIT), and a ruling from June which governs decentralisation in the industrial and commercial sectors. Industrial promotion projects will be actively implemented following the issuance of resolutions by the provincial People’s Council on expenditure levels.

Meanwhile, the locality will also closely monitor the prices of agricultural products and the operations of export-import enterprises, particularly the impact of import taxes on the US market. The province will enhance information dissemination on market trends and new export-import regulations to local enterprises.

Procedures will be undertaken to request the MoIT to delegate authority to the Department of Industry and Trade for issuing certificates of origin and approving self-certification of origin for exported goods. Support will also continue for enterprises to bring their products to e-commerce platforms.

At the same time, the province will review and closely monitor the progress of ventures involving slow-moving official development assistance or low disbursement rates to expedite implementation and disbursement. Challenges in investment procedures, land clearance, and payments will be identified, categorised, and addressed promptly to facilitate faster progress and disbursement.