The industrial production index continues to maintain high growth

According to the Provincial Statistics Department, the industrial production index in April continued to maintain high growth. The IIP industrial production index was estimated to reach 107.78% over the previous month and increase 123.18% over the same period. The reason why the IIP index continued to increase in April was due to the stable production and business activities of FDI enterprises such as Luxshare ICT Company, Hong Hai Group, Vinasolar Company and newly established companies to the growth stage such as Fukang, Hana-crovina.

Overal for 4 months, the IIP index was estimated to increase by 23.96% with all 4 level 1 industries increasing. In particular, the manufacturing and processing industry continued to maintain its leading role with an increase of 24.14%; mining increased by 15.64%; electricity production and distribution increased by 18.15%; water supply and wastewater treatment increased by 5.85%. Besides industries with high growth rates such as electronic product manufacturing and food processing, there were still many industries encountering difficulties from the beginning of the year until now such as beverage production; production of leather and related products; print and copy records of all kinds; electrical equipment manufacturing, etc. As these industries were small in scale, their impact was not large on the overall growth rate of the index.

Regarding investment attraction, due to the strong development of infrastructure in industrial zones and clusters, with an improved investment and business environment, Bac Giang continued to be the top choice of domestic and foreign investors. During the month, the whole province attracted 110.8 million USD of converted investment capital, 1.7 times more than the same period in 2023. Of which, 7 new FDI projects were granted with registered capital of 24.25 million USD. 2 domestic investment projects were granted with registered capital of 837.7 billion VND. Accumulated in the first 4 months of the year, the whole province attracted 780.7 million USD in conversion, equal to 77% of the same period in 2023; Of which, 13 new domestic projects with registered capital reached 9,245.7 billion VND and 22 FDI projects with registered capital reached 128.8 million USD. Besides, in April, the whole province had 206 newly registered businesses. Accumulated from the beginning of the year, there were 524 newly established enterprises with registered capital of 2,598 billion VND.

Regarding agricultural production, up to now the province had finished cultivating the Chiem Xuan crop, ensuring the seasonal framework. The total area planted in the Chiem Xuan crop was estimated to reach 65,905 hectares, decreasing by 1.6% over the same period, of which the Chiem Xuan rice area reached 46,156 hectares, decreasing by 0.1% compared to the plan and decreasing by 1.6% compared to the same period last year. The area of citrus trees in the province such as oranges and grapefruits continued to decrease due to low economic efficiency, rapid tree degeneration and poor productivity. In addition, lychee trees had a low flowering rate and fruit setting rate of only about 40%, at the risk of crop failure.

Livestock production developed smoothly with no arising epidemics. However, the herd of buffaloes and cows continued the downward trend from the previous year due to poor economic efficiency, narrowed grazing area and reduced demand for traction power. Pig and poultry herds were stable compared to the previous month and the same period due to guaranteed economic efficiency for farmers.

Trade and service activities in the month maintained a high growth rate in parallel with the growth of industrial production activities. Total retail sales of goods in April were estimated at 3,870.8 billion VND, increasing by 1% over the previous month and increasing by 18.1% over the same period, due to good economic growth and increased people's income leading to the need to shop and consume products and services also increased. Total import-export turnover in 4 months reached 14.9 billion USD, increasing by 15.9% over the same period.

Transportation activities increased slightly compared to the previous month and continued to increase over the same period due to the strong increase in demand for goods transportation to serve the needs of industrial production and construction. Transportation revenue in April was estimated at 1,170.1 billion VND, increasing by 2.5% over the previous month and increasing by 21.08% over the same period. Accumulated 4 months total transportation revenue was estimated at 4,765.8 billion VND, increasing by 19.34% over the same period.

The consumer price index (CPI) in April increased by 0.18% compared to the previous month. Compared to the same month last year, CPI in April increased by 4%. The average consumer price index in 4 months of 2024 increased by 2.76% over the same period last year.

Deploy solutions to promote socio-economic development

However, some electronic component manufacturing businesses, especially small and medium-sized enterprises being Samsung vendors, were still having difficulties with orders. Budget revenue had positive changes but still faced many difficulties, especially revenue from land use fees only reached 22.6% of the estimate. The disbursement rate of public investment capital was lower than the same period. Although the number of businesses withdrawing from the market decreased over the same period, the number of businesses temporarily suspending operations increased by 21.2% and the number of newly established businesses decreased by 11.9% over the same period, etc.

In order to maintain growth, in the coming time, Bac Giang province would continue to promote industrial production activities, especially large and key projects. Firmly grasp the situation, promptly support businesses in removing difficulties and obstacles, promote production and business development, create new production capacity, create jobs for workers. Actively support businesses in recruiting workers.

Speed ​​up the completion of investment, land and construction procedures so that electrical works and items could soon be put into use to ensure safe and stable electricity supply for production, business and life of the People.

Promote the application of agricultural production processes according to VietGAP and GlobalGAP standards, and apply high technology to production. Instruct people to care for lychees to ensure requirements and standards of export markets and other fruit trees.

Continue to monitor developments in supply and demand, commodity prices, and the market, proactively have plans and measures to stabilize the market. Diversify options for promoting the consumption of agricultural products, especially lychee, to be proactive in all situations.

Deploy tax management measures synchronously and drastically. Improve the efficiency of collection, management and use of land revenue. Focus on site clearance, early allocation of land to investors and early auction of land use rights.

Accelerate the progress of site clearance of the remaining areas of industrial zones: Yen Lu, expanded Hoa Phu and new industrial zones: Phuc Son, expanded Viet Han. Urge investors to complete investment in building technical infrastructure of industrial zones according to plans to create a clean land fund to attract investment.

Besides, Bac Giang province would continue to focus on comprehensive cultural development, improving the quality of education and health; firmly ensure national defense, security, social order and safety./.