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Economic growth achievement in Thua Thien Hue PDF Print
Wednesday, 22 May 2013 15:57

VIETRADThua_Thien_HueE - 1. Economic potentiality and enhancing foothold

a) Average annual growth rate of 12% is the never-heard growth rate, but it does not rise to 15% as planned. In 2 years of 2006 – 2007, the rate jumped to 13.4%. Between 2008 and 2010, the rate only reached 11.8%1 due to affect of the global economic recession. GDP of the Province in 2010 marked a 1.8 – fold rise over 2008. Average GDP per capita was 1,150. 5 USD equal to average GDP per capita for the whole nation. Provincial budget collection was 23% annually. In 2010, the collection hit 3,010 billion VND equal to a 2.8 times over 2005. The power competitive index ranked 18th on the nation in 2010 from 40th in 2005.


b) Active shift economic structure: The density of industry and contruction increased by 39.7% in 2010 from 34.8% in 2005. The density of services jumped to 45.2% from 43.6% in 2010 and 2005 respectively while the density of ago-forest-fishery and aquaculture dropped to 15.1% from 21.6% in 2010 and 2005 respectively.


Services: Total retail commodities and sales from consumption service was an increase of 28.3% yearly. Sales of tourism was 17.5% annually (the year 2009 alone increased by 1.5%), sales of transportation 15%, sales of post and communications 36.6% annually. The number of labors in services made up 36.6% out of provincial economic sectors. The export rose to 257.5 million USD in 2010 from 57.1 million USD in 2005. Exported products was a good increase.


Industry kept on annual growth rate of 19.6%, yet it did not reach the planned rate of 20 – 21% annually as projects of Dong Lam, Nam Dong Cement, Huong Dien and A Luoi Hydroelectricity did not come on stream.


Core products were a good increase such as beer gaining 181.4 millions of litters, up 2.6 times, cement 1.77 millions of tons, up 2.2 times, Frit yeast 26,300 tons a year, up 2.9 times, fiber of kinds 26,900 tons a year, up 2.5 times, and garment 26 millions of items a year. In 2010, industrial export value accounted for 84.8% of total provincial export value.


Clusters of industrial parks, small-scale industry, and traditional handicraft villages were planned and their infrastructures were constructed. Phu Bai Industrial Park was expansion of 303 ha, and attracted 46 projects at total registered capital of 3,448 billion VND of which 1,580 billion VND, making up 45.3% of total registered capital, from 23 projects was invested in their production. The Park’s industrial output value accounted for some 18% of total industrial output value and 46.4% of total provincial export. Phong Dien Industrial Park called on 10 projects at registered capital of 902 billion VND. Huong So Industrial Cluster with 25.9 ha invited 35 projects at registered capital of 500 billion VND, 14 of which were due to go into services, 21 of which were under construction. Cluster of industry – small-scale industry, handicraft villages in districts of Huong Tra, Huong Thuy, Phong Dien, and Phu Loc.


Agro-forest-fishery carried on staying at an average annual growth rate of 3,5%3 in spite of natural disasters, epidemic diseases. Concretely, agriculture increased by 3.4% a year; forest 0.9% a year; and fishery 5,3%/ a year.


Structure of agricultural and rural economy transferred toward non-agricultural development in which the rate of agriculture labor decreased to 36.5% in 2010 from 42.2% in 2005 while non-agricultural labor rose 63% from 57.8% in 2010, 2005 respectively. The rate of poverty households dropped 4% annually. Average income per household in rural area was 665.700 VND a month in 2008, marking a 2-fold rise over 2004.


The work of planning was done to make 49 planned branches, domains, and 112 planning of construction of urban areas, residential areas, industrial parks, and industrial clusters.


Total investment capital in the Province in these 5 years5 was an estimated 32,700 million VND, up 21.4%/ year , equal to 72.6% in comparison to the plan. Investment structure was active change in which foreign direct investment (FDI) and non-state sector’s investment rose dramatically. FDI enterprises’ investment capital jumped 26.6%/ year6, which drove provincial investment capital to increase to 9.9% in 2010 from 8% in 2005. Asset capital from enterprises and credit capital was average annual increase7 of 19.8%, which climbed to 53,5% and 50% in 2005 and 2010 respectively. Capital from the State budget increased by 21,1%/ year8 in scaled growth, yet the density of investment capital dropped from 38.1% in 2005 to 37.7% in 2010 in which Central investment capital made up 10.7% as against 24.3% in the period of 2001-2005.


FDI Attraction had 69 projects at total registered capital of 2,478 million USD, of which 420 million USD were implemented, making up 16.9% of registered capital. 49 out of 69 projects were due to go into services while 17 out of 66 ones were under construction.


In major aid from ODA between 2006 and 2010, there were 45 projects, of which 36 were in transition and 6 new ones at total committed capital of some 430 million USD9. Aid of non-government organizations (NGO) had 50 projects at capital of estimated 30 million USD, marking a 1.5-fold rise over the period of 2001-2005.


c) Infrastructure structure was in continual improvement. Many projects, after being constructed, enlarged on their serving.


d) Other areas in the Province (urban areas, hills, coastal lagoon areas) were planned to get programs and projects done in enlargement on advantages of each area.


2. Development Economic Sectors

State-owned sector gradually dropped 35.9% in 2002 to 31.3% of gross provincial product, yet the sector kept on average annual increase of 7.2%, contributing 10% to the provincial budget collection.


State-owned enterprises were, basically, re-structured. Specifically, 63 out of 66 enterprises and 14 divisions of them were re-organized, which made up 95.4%. Most state-owned enterprises, after going public, got more benefits, by which average sales soared on 55.3% and income per capita was 2 billion VND a month.


Non-state-owned sector accounted for nearly 56% of gross provincial product and some 10% of provincial budget collection. The sector offered jobs to more than 145, 598 labors, making up 30% of labors in the Province. As of December 31 2010 the Province has been home to 3, 864 enterprises at total registered capital of 16, 743 billion VND. Each enterprise averagely had 364 people (in 2005 the number was 1, 108 people/ an enterprise)10. Each enterprise had average capital of 4.3 billion VND (2.38 billion VND in 2005).


More than 61, 000 small businesses at total registered capital of 8,200 billion VND were in production, providing jobs for 88,000 labors.


There were 546 farms, up 297 ones over 2001, 260 of which were cultivation and 77 of which were breeding, 83 aquaculture, 71 forest, and 55 comprehensive farms. Each farm made 36 million VND a year


Foreign direct investment sector (FDI) rose to 19.2% in 2010 from 8.8% in 2005 in gross provincial product, thereby paying over 30% of total provincial budget collection. Thanks to rapid development, FDI enterprises were thought to scale up business management, technology, and international integration ability.


Collective sector availed 256 cooperatives and 250,000 employees with average annual income of 10.5 million VND. Many cooperatives in active association with other sectors were seen in agricultural and rural services.

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