Yen Bai eyes GRDP growth rate of 7 percent this year

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Yen Bai eyes GRDP growth rate of 7 percent this year

Thursday, August 12, 2021

YBO - Yen Bai province aims to achieve a gross regional domestic product (GRPD) growth of between 6.8 and 7 percent in 2021.

Secretary of the provincial Party Committee and head of the province’s delegation of National Assembly deputies Do Duc Duy chairs the meeting.

Member of the Party Central Committee, Secretary of the provincial Party Committee and head of the province’s delegation of National Assembly deputies Do Duc Duy set the target during a meeting held on August 10 between the provincial Party Committee's Standing Board with relevant departments and sectors, on the building of socio-economic development plan for 2022 and provincial budget collection and spending this year.

The event also touched on local budget estimate for the next year, a financial-budget plan for 2022-24 and a plan on State budget allocation for 2022.

Despite difficulties and challenges posed by COVID-19, the province’s economic development indicators improved in the first six months of the year.

Of note, budget collection expanded 20 percent. Two additional hydropower plants are projected to be put into operation by the end of the year.

Some mining firms posted growth, so did others such as education, health care, information technology, and finance-banking.

Many sectors were asked to re-assess the figures and add new fields to offset those falling short, in a bid to obtain the set target and even exceed expectations.

Local authorities aim for a GRPD growth rate of 7.3-7.5 percent next year.

Earlier, the Party delegation to the provincial People’s Committee put forward a report stating two scenarios for development.

In the first one, the province is forecast to post a GRDP growth of 6.65 percent this year, lower than the set target by 0.65 percent. The other one states that Yen Bai will fulfil all of its targets, with its GRDP growth reaching 7.3 percent.

Local leaders have set 32 main criteria to stay consistent in steering the implementation of the assigned tasks.

The proposal is based on current conditions, along with forecasts on obstacles and challenges, and results of the implementation of tasks in H1, as well as projections for the remaining months and the whole year compiled by relevant agencies.

Manh Cuong

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