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Economic achievements in Quang Tri Province - Part 4 PDF Print
Friday, 28 June 2013 15:12

VIETRQuang_Tri_economic_development_3ADE - 4. Export and Import

The export and import activities have made remarkable advancement, the export market is consolidated and enlarged; the provincial authorities have sped up the exportation of advantageous products, such as coffee, rubber, peanut, cassava starch, titanium, commodity electricity, etc. Besides, the provincial authorities have concentrated to implementing export support measures; speeding up the formalities reform and enhancing the effect of the cooperation mechanism of checking goods in and out of the LBZ, creating favorable conditions the goods exchange. The export turnover insreases from 18.7% million USD in 2006 to 36 million USD in 2008 and 44.5 million USD in 2010 (three times higher than 2005). The value of goods imported in 5 five period of 2005- 2010 reaches 221.99 million USD, making an average increase of 12.6%/year. In 2010 alone, the import value is 60.6% million USD, which is 34.6% higher the set target of 45 million USD.


5. Finance and currency

The budget management and operation of the locality has had new changes. The provincial authorities have sped up the devolution of budget collecting and expensing to lower levels of authorities (districts and communes) in order that they can take initiative in exploiting the domestic budget collection and expense on their localities.


The total budget collected in the province in the five-year period of 2006-2010 is 3,818 million VND making an everage increase of 24.7%/year and 2.5 times higher than that of the 2001-2005 period, in which domestic budget is 2,660 billion VND making an everage increase of 20%/year.


The budget espensed is implemented under the Law of State Budget and other legal documnets of appropriate authorities, meeting the budget-finance managing requirements and completing the annual task of budget expense. The everage growth rate of budget expense in the period of 2006-2010 is 20%; the total budget expense in 2010 is 3,176 billion VND, in which budget expense on investment for development is 303 billion VND, regular expense is 1,809 billion VND.


Budget expense on basic construction is concentrated on key works, dynamic zones, key industries in the plan of provincial socio-economic development; enhancing the material facilities, building the infrastructure; concentrating on investing in rural, agricultural and mountainous areas, areas with much difficulties, areas of ethnic minorities. Budget expense on education and public health is also taken care of.


The allocation of regular budget expense has basically met the task of budget expense of each industry and level of government in the condition of tight budget. The budget expenses are implemented as estimated; those social security policies and new central and local policies have been implemented effectively.


However, the provincial authorities have not been able to actively balance the budget because of tight budget, underdeveloped economy, high ratio of poor household, unattractive investment policies, natural disasters, epidemic diseases, and heavy war-consequences. So, the supportive budget from the Central government still makes up over 70% of the budget expenses in the period of 2006-2010.


-The banking system has been enlarged and gradually modernized; the monetary policy of the Government and State Bank has been seriously implemented; the banking trade has been done dynamically and effectively ensuring the system security and serving well the development of production, trade, social security and economic integration. By the end of 2010, the capital mobilization reaches 6,100 billion VND, nearly 4 times higher than that of the end of 2005. The total loan surplus by the end of 2010 reaches 7,300 billion VND, 3.6 times higher than that of the end of 2005. The density of medium and short term loan surplus is rather high reaching 50.7% over the total loan surplus by the end of 2010. The managing competence of the provincial State Bank towards the activities of credit angencies keeps on increasing; the system of commercial bank has been developed meeting the international integration requirements.


6. Foreign trade and investment promotion

The attraction and expense of foreign capital on the locality over the past 5 years has had positive changes; the foreign invested capital makes up 13.4% over the total social development invested capital5 contributing to the development of the socio-economy, hunger eradication and poverty alleviation, raising the living standards and protecting the environment.


There have 25 ODA projects attracted with the total invested capital of 1,425 billion VND, in which foreign capital is 1,166 billion VND and domestic capital is 259 billion VND. Besides, there are 4 large-scale ODA projects transfered from the period of 2001- 2005 with the total invested capital of 920 billion VND. So, the total ODA capital signed in the period of 2006-2010 reaches about 2,345 billion VND, 86.38% equivalent to that of the period of 2001-20056. The ODA capital implemented in this period reaches about 1,589 billion VND, 94.3% equivalent to the 5-year plan of 2006-2010 (1,675 billion VND) and 193.8% equivalent to the period of 2001- 20057. Many large-scale ODA programs and projects have been implemented effectively, such as: Quang Tri rural development program – stage 3, sharing program, the program on poverty alleviation in the Central area, the program on upgrading the Nam Thach Hon irrigational works, small project on flood preventing in the depressed area of Hai Lang, the project on rural development, and other JBIC projects (Japan).


In the period of 2006-2010, the total implemented FDI capital is about 252 billion VND, 1.02 times higher than that of the period 0f 2001-20058. The attraction of FDI capital meets difficulties because of financial crisis and the world economic depression, high inflation and price fluctuation. Some projects have been licensed but lacked of capital or delayed in implementation. The total NGO capital attracted in the period of 2006-2010 reaches about 500 billion VND for activities of hunger eradication and poverty alleviation, bombs and mines detecting, enhancing the ability and preventing natural disasters. (End)

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