Dong Nai province: Socio-economic growth estimated at 15.3% in 1st half of 2008

Foreign-invested projects give employment for many local laborers

        In the first half of 2008, the province’s economy continued seeing strong growth, the report made by provincial People’s Committee says. Dong Nai province’s gross domestic product (GDP) is expected to reach VND12,755 billion in the first half of 2008, accounting for 43.7% of plan, up 15.3% compared to the same period last year. The construction-industry has increased 15.8%, followed by 17% of the services and then 5% of the agriculture-forestry-fishery in comparison with the same period. FDI has continued to increase with 50 projects granted fresh licenses with a registered capital of US$1,918 billion, and the increased capital of US$250 million was for 50 projects. In the first half of 2008, Dong Nai is expected to grant licenses to 22 projects with a total investment capital of VND7.040 billion, accounting for 44% of plan, including 20 investment certificates and 2 projects with increased capital. Additionally, the province also recorded encouraging achievements in cultural and social activities.

        The greatest restriction on carrying out socio-economic targets in the first half of 2008 is the high inflation and price hike in raw materials as well as strong import growth, which influence much on the province’s economy and local people’s lives. Besides, labor shortages as well as strikes have happened in some foreign-invested enterprises, impacting on production development.

The working session’s view

        Addressing at the working session, Chairperson Vo Van Mot suggested that departments and sectors should make great efforts to boost better

cooperation in performing main tasks set by provincial People’s Committee. Besides, special focus must be laid on administrative reform as well as enhancing inspection so as to avoid speculative hoarding.

Reported by Thu Dung, Translated by THKC