Long An makes strong recovery following COVID-19 pandemic
|Long An makes a strong recovery following the COVID-19 pandemic.|
The province posted 0.95 per cent and 8.32 per cent growth in the Gross Regional Domestic Product (GRDP) in 2021 and 2022, respectively. Its economy expanded by 3.43 per cent in the first six months of this year. The province currently has 121 out of 161 communes meeting new-style rural standards and many of them satisfy advanced new-style rural standards.
The official held that industrial production has basically recovered, achieving an average growth rate of about 4 per cent a year and so did commercial activities with an average growth of 10 per cent a year. The processing industry accounts for over 90 per cent of the province's industrial proportion, he said.
In 2022, Long An's Provincial Competitiveness Index (PCI) moved six places from the previous year to the 10th position out of the country's 63 cities and provinces.
Investment promotion is being innovated and becoming more effective. Thirteen projects valued at over 40 trillion VND (1.6 billion USD) were granted investment certificates at a promotion conference held in July this year, along with the commitment of nearly 100 trillion VND in several projects that are calling for investment in the locality.
Currently, there are 16,100 enterprises operating in Long An province, an increase of 29.3 per cent compared to the end of 2020.
The number of foreign-invested projects in the locality reached 1,191 with a combined registered capital of 10.4 billion USD, an increase of 165 projects and 4.1 billion USD compared to the end of 2020. The province's budget revenue in 2022 stood at 21.84 trillion VND, up 18 per cent from 2020’s figure.
To overcome shortcomings and fulfil all targets set in the 11th Provincial Party Congress’s resolution, it is necessary to personify investment sources and focus on carrying out key tasks, Ut said, adding that economic development must go together with social stability and environmental protection.
According to the Long An province’s approved development master plan, the province aims to become a dynamic, efficient, and sustainable economic center in the southern region by 2030. It would serve as a gateway on the urban-industrial economic corridor of the Mekong Delta, closely connecting with Ho Chi Minh City and the southeast region, and becoming an important cooperation and trading hub with Cambodia.
By 2050, Long An envisioned itself as the leading industrial province in Vietnam and one of the important economic growth poles in the Mekong Delta.