Economic restructuring creates growth momentum

One of the goals set out in the Resolution of the 20th Provincial Party Congress is to strive for the proportion of industry, construction, trade and services in the total regional product (GRDP) (excluding product tax) to reach 80% or more by 2025, 85% or more by 2030 and about 90% by 2045. To make that goal a reality, in recent times, all levels, sectors and localities have actively shifted the economic structure towards quality and efficiency, thereby promoting the province's economic growth.

Production activities at An Nam Textile and Garment Trading Company Limited (Tay An Industrial Park, Tien Hai District).

Gradually increase the proportion of industry, construction, trade and services

If in 2020, the proportion of industry, construction, trade and services in the GRDP (excluding product tax) of the province accounted for 72.51%, then by 2021 it increased to 75.07%, in 2022 it accounted for 77.33% and in the first 6 months of 2023 it accounted for 77.48%. The gradual increase in the proportion of industry, construction, trade and services in GRDP has demonstrated the effectiveness of implementing solutions to restructure the economy associated with renewing the growth model towards developing industries and products with competitive advantages, improving the quality of growth and competitiveness of the economy on the basis of proactively participating in the fourth industrial revolution and proactively integrating internationally.

In order to create a driving force for strong industrial development, the province pays special attention to and focuses on attracting investment, substantially removing "bottlenecks" and "bottlenecks" as well as difficulties and obstacles in production and business activities of enterprises; at the same time, creating the most favorable conditions for enterprises and investors to come to learn, research and make investments in the province. From 2021 to June 2023, the province has approved/adjusted investment policies, granted/adjusted investment registration certificates for 274 projects with a total registered capital of more than 57,100 billion VND, of which foreign direct investment (FDI) reached over 1.1 billion USD. In particular, in 2021, the province attracted 8 registered FDI projects with a total investment capital of nearly 545 million USD, higher than the total FDI capital of the entire period 2016 - 2020. Along with that, the province also issued new business registration certificates to more than 2,300 enterprises with registered capital of more than 22,000 billion VND and 916 branches, representative offices, and business locations, of which 2022 is the first year with more than 1,000 newly established enterprises in the year.

Not only focusing on investment attraction, the province also directed the synchronous and effective implementation of restructuring industries towards developing industries with high scientific and technological content, high added value, and less environmental pollution; promulgating a project to develop the industry and trade sector for the period 2021 - 2025, with a vision to 2030; annually organizing meetings to encourage businesses, organizing groundbreaking and inauguration ceremonies for a number of large projects, creating a vibrant atmosphere, competing in production, business and promoting the province's investment environment... If in the period 2016 - 2020, the average industrial growth rate of the province reached 14.4%, then in the period 2021 - 2022 it increased by an average of 17%, and in the first 6 months of 2023 it increased by nearly 10%.

Mr. Tran Huy Quan, Director of the Department of Industry and Trade, said: In recent times, the Department has proactively advised the province to attract and approve investment in industrial projects that exploit the province's strengths in terms of land and labor, not only to increase the value of industrial production but also to create room for development; at the same time, coordinate with departments, branches and localities to remove difficulties for enterprises, focus on supporting and creating conditions for enterprises and production establishments to ensure stable production and business activities; focus on developing e-commerce activities, advise the province to organize conferences and seminars to develop product consumption markets...

High-tech shrimp farming model of Mr. Do Quang Bon's family (Thai Thuong commune, Thai Thuy district).

Agricultural development in the direction of commodities

Along with the gradual increase in the proportion of industry, construction, trade and services, the province also gradually reduces the proportion of agriculture in the economic structure, focusing on comprehensive and sustainable agricultural development in the direction of modernization, organic agricultural production and application of biotechnology, production of goods with high quality and added value according to market demand. If in 2020, the proportion of agriculture, forestry and fishery in GRDP (excluding product tax) accounted for 27.49%, by 2021 it had decreased to 24.93%, in 2022 to 22.67% and in the first 6 months of 2023 to 22.52%. Up to now, although the agricultural land area of the province has decreased annually, the output and productivity of crops have been well maintained. The annual rice yield is about 131 quintals/ha, the stable paddy output is about 1 million tons/year; Rice variety structure shifts to high quality rice varieties, sowing and planting methods continue to be innovated in a modern direction, reducing manual sowing area and increasing machine sowing area.

The work of converting crop structure on rice land and producing according to "large fields" and linked fields continues to be directed to be implemented. Up to now, the whole province has 220 large fields in 138 communes with an area of nearly 7,540 hectares, of which more than 5,900 hectares are linked to production and have guaranteed products. The movement of accumulating and concentrating land for large-scale production investment by organizations, households and individuals is increasingly developing deeply with a total accumulated and concentrated area of more than 11,200 hectares, an increase of 42.3% compared to 2020.

As one of the localities with a tradition in agricultural production, up to now, Quynh Phu district has 319 households accumulating and renting over 1,325 hectares of rice fields with a scale of 2 hectares or more, of which 95 households have a scale of 5 hectares or more to grow rice, medicinal herbs and vegetables for high economic efficiency, typically in the communes of Quynh Tho, An My, Quynh Trang, An Ninh...

Mr. Nguyen Tien Quyen, Chairman of the District People's Committee, said: Implementing the Resolution of the 20th Provincial Party Congress and the Resolution of the 16th District Party Congress, in recent times, the District Party Committee, People's Council and People's Committee have focused on comprehensive leadership and direction, effectively implementing 5 key tasks, 3 strategic breakthroughs, in which focusing on restructuring the entire economy and sectors, increasing the proportion of industry and construction, reducing the proportion of agriculture and fishery. Therefore, the growth rate as well as the economic structure of Quynh Phu have many positive changes; the period of 2021 - 2023 is estimated to reach 12%, achieving 78.8% of the target set out in the Resolution of the 16th District Party Congress; the proportion of industry and construction accounts for 70.5%; trade and services account for 14.4%; agriculture, forestry and fishery account for 15.1% of the total production value of the district.

The shift in economic structure towards quality and efficiency has significantly contributed to creating momentum for the province's economic growth. Evidence is that in recent years, Thai Binh's economic growth rate has always been among the top in the country. In 2021, the province's GRDP increased by 7.25%; in 2022, it increased by 9.52% (ranked 6th out of 11 provinces and cities in the Red River Delta and ranked 18th out of 63 provinces and cities nationwide); in the first 6 months of 2023, it increased by 7.77% over the same period in 2022, higher than the national average, ranked 10th out of 63 provinces and cities nationwide and ranked 5th out of 11 provinces and cities in the Red River Delta. The economic scale in 2022 increased by 12.6% compared to 2021, 2 times higher than in 2016, ranking 22nd out of 63 provinces and cities nationwide. GRDP per capita in 2022 reached 58.9 million VND, an increase of 12% compared to 2021 and 1.9 times higher than in 2016.