Driving Growth in Final Months

At the end of Quarter 3 2024, Phu Tho’s economic growth (GRDP) reached 9.56%, ranking 9th in the country and 4th in the region. This performance reflects the collective efforts of the local authorities, the entire political system, and the business community in achieving the set goals and plans. As the province enters the final phase of the year, it is making concerted efforts to improve key indicators and ensure sustainable growth.

In implementing the tasks for 2024, Phu Tho faces many new difficulties and challenges. However, the province has quickly “repositioned” its opportunities, closely following practical situations, understanding the situation, and making early forecasts to create innovative directions and methods. In the first nine months of 2024, the province’s socio-economic goals and targets have mostly been met and exceeded. The Gross Regional Domestic Product (GRDP) is estimated to increase by 9.56%, with agriculture, forestry, and fisheries rising by 2.8%; industry and construction by 16.8%; and services by 5.8%.

Notably, industrial production in the third quarter of 2024 continued to maintain a high growth momentum, with the Industrial Production Index (IIP) increasing by 48.21% compared to the same period last year. Over the first nine months of 2024, the IIP rose by 38.65%, with the manufacturing and processing industry growing by 40.3%. The significant IIP growth compared to the same period last year can be attributed to the considerable contributions of several large-scale enterprises that started operations; the stability in production, market expansion, and the search for both domestic and international orders by businesses have also been key factors driving the overall industrial sector’s growth.

In the last three months of the year, along with implementing tasks and solutions to address the aftermath of Typhoon No. 3, and to restore production and business activities as per the Government’s Resolution No. 143/NQ-CP, dated September 17, 2024, the province is focusing on overcoming difficulties. It is actively implementing policies to support businesses through tax and credit relief, creating favorable conditions for businesses to recover and develop production.

The province is particularly focused on actively monitoring the production situation, resolving difficulties and obstacles for sectors with declining production (such as food processing, textiles, construction materials, and fabricated metals). It is providing support to projects in completing investment procedures, ensuring they are completed and operational as soon as possible to maximize their production capacity. Additionally, the province is prioritizing the development of businesses, supporting technological innovation, digital transformation, participation in industry linkages, value chains, and expanding export markets.

The province will focus on directing and implementing flexible and effective measures to restore agricultural production. It will review irrigation systems, dikes, and resettlement projects in flood-prone areas, addressing and remedying issues such as subsidence, landslides, and other land degradation to stabilize the lives of the people. The province will continue to carry out tasks related to building new rural areas (NTM). It aims to have Phu Ninh district complete its NTM tasks by the end of the year, with an additional 4 communes achieving NTM standards, 3 communes meeting NTM enhanced standards, and model communes (bringing the total number of communes achieving NTM standards by the end of 2024 to 141, with 22 communes meeting enhanced NTM standards).

In line with the directives of the Provincial Party Committee, the Provincial People’s Committee, various levels, sectors, localities, units, and the business community in the province will concretize the objectives with the spirit of increasing determination, striving to “accelerate,” break through, and “reach the finish line” in the last months of the year, aiming to achieve the highest completion of the targets and plans set.

Dinh Vu