Dong Nai’s economy shows positive signs in first quarter

Dong Nai’s economy showed positive signs in the first quarter of this year. Dong Nai’s GDP in the first three months is estimated to reach about VND7,457 billion or 21% of the year’s plan, a 13.4% year-on-year increase. This figure is more than two times higher than the average level of the whole country. Accordingly, the province’s industry-construction sector will increase 14.5%, agriculture, forestry and fishery 3.8%, services 13.2%. The industrial production value in the first quarter is expected to stand at over VND 26 trillion, making up 25.6 per cent of the years target, up 18.2 per cent over the same period last year. Particularly, the foreign invested sector registers an increase of nearly 20 percent, non-state sector rise 19.4 percent; central state-owned sector up over 11 percent and local state-owned sector up nearly 5 percent.

Local garment enterprises produced US$8.7 million in export turnover during the first quarter of this year

Dong Nai saw an impressive increase in export value during the first quarter of this year. Accordingly, the province is estimated to reach an export turnover of more than $1.4 billion in Jan-March period, fulfilling 20.4 percent of the year’s plan, a year-on-year rise of 18.5 percent. Foreign-invested businesses register a rise of 19.2 percent in the export value and they represent over 90 percent of the provinces total export value. In addition, the increase in export value was seen in a majority of Dong Nai’s products, especially garment, wood products, footwear …. Particularly, garment exports estimated at US$8.7 million, refined wooden products, US$6.6 million, footwear, US$7 million, ….

Local wood processors expect to obtain total export revenue of US$ 6.6 mil in first quarter

Over the past three months, the province has attracted more than US$115 million in FDI, or 2.8 times higher than the same period last year, representing 7.7 per cent of the year’s target. The figure included US$10.5 million in registered capital from six new FDI projects and a combined addition of US$104.7 million from nine operational projects. During the same period, the province also saw more than VND22.4 trillion in domestic investment capital, an increase of 17.4 times over the same period in 2009, representing nearly 90 per cent of the year’s target.

Dong Nai’s total budget collection in the first three months of the year is estimated at VND4,200 billion, making up 29 % of the whole year’s estimates, an increase of 38% over the same period last year. The province’s total development investment capital is expected to reach VND7,325 billion during the same period, a year-on-year increase of 10 percent, representing 23.6 per cent of the year’s target.

The positive economic growth of Dong Nai in the first quarter will help to create the impetus to achieve the goals set for 2010. However, Dong Nai is facing many difficulties which include the increasing prices of petrol and diesel and energy…All this will affect the economic growth of the province in the coming months.

Reported by X.P