Dong Nai seeks lower GDP growth

(ĐN)- Dong Nai’s economy is estimated to slow growth in first half of the year. According to the report, the provinces GDP in the first half reached more than VND14 trillion or 42% of the year’s plan, a 7.15% year-on-year increase; the export turnover achieved approximately US$2.8 million, equaling 33% of the year target, a 6.5% decrease from the same period last year; meanwhile, FDI attraction is estimated at US$300 mil, representing 15% of the year plan; the import turnover declined nearly 28% against the same period.

Dong Nais economy is predicted to grow better in rest quarters

The global economic slowdown has been identified as the main cause for lower-than-expected growth in economy in the country generally and Dong Nai particularly. Therefore, Dong Nai provincial People’s Committee proposed the provincial Party Committee and People’s Council to agree to lower the province’s GDP growth rate in 2009 to 9-9.5% from the targeted 14.5% due to the current domestic and global economic difficulties. It noted that a lower target would help create momentum for more sustainable development in the years to come.

Besides, the committee also seeks permission to reduce the province’s industrial production value growth rate to 10.5% from the earlier 20%, agriculture-forestry-aquatic production from 5.6% down to 4-4.5% and the export turnover from 23% down to 10%.

Although Dong Nai posted lower-than-expected growth rates, it remain a high growth rate compared to other areas in the country. The province’s total development investment capital in six months is estimated at VND12.88 trillion, a year-on-year increase of 5%; Dong Nai also saw nearly VND27 trillion in domestic investment capital, a four-fold increase over the same period previous year; budget collection up 10%.

The province’s economy is predicted to grow better in the rest quarters of the year and many new large projects will be implemented in this period, said Vice Chairman of the provincial People’s Committee Dinh Quoc Thai.

Reported by X.Phu