REPORT the socio – economic situation in the firts quarter of 2019 Vinh Phuc province

05/04/2019

REPORT the socio – economic situation in the firts quarter of 2019
Vinh Phuc province

1. Economic growth

The gross domestic product (GRDP) in the first quarter of 2019 at the constant price of 2010 reached 20,094 billion VND, up 8.75% compared to the first quarter of 2018. This is the highest increase of the first quarter in the past 3 years. In particular, agriculture, forestry and fishery increased by 0.05%; industry - construction sector increased by 11.46%, service sector increased by 7.52%.

- Agriculture, forestry and fishery: The added value of agriculture, forestry and fishery in the first quarter of 2019 reaches VND 1,139 billion, up 0.05%, contributing to the overall growth of the province is 0.003%%;

In Agriculture, the winter weather is quite favorable, so the major crops generally grow well, the productivity increases, but because the cultivated area decreases 12% over the same period (over 2,000 ha), making prices cultivation value decreased by 6.38% over the same period. Livestock production, along with many supporting mechanisms and policies of the province and the efforts of farmers, cattle and poultry in the province have developed well, the number of heads is relatively stable. Apart from meat production, cattle output decreased slightly by 5.35%, the remaining output of livestock products increased compared to the first quarter of last year. In particular, poultry meat production increased by 4.59%, poultry egg production increased by 4.85%, live-weight pork increased by 2.33%, cow's milk increased by 27.84% ... thus the growth of livestock husbandry reached 3.15%, contributing 0.11% of the province's overall growth.

- Industry - construction sector: The total value of added industry and construction in the first quarter of 2019 reaches VND 10,633 billion, up 11.46%, contributing to the overall growth of the province is 5.92 points%; particularly, industry reached VND 9,866 billion, an increase of 11.47%, contributing to the overall growth of the province was 5.49 points %.

Among the three major industries in the province, the automobile manufacturing industry decreased: the automobile production in 3 months was estimated at 13,832 cars, down 6.12% over the same period; added value decreased by 7%, reducing the overall growth of the province by 0.52 percentage points. Motorbike industry with motorbike production reached 459,970 units, down 0.61% over the same period; but due to the production of high-value cars, the added value increased by 2.62% over the same period, contributing to the overall growth of 0.44 percentage points. The industry of manufacturing electronic components is increasingly high and dominates in the industry of the province, the value added according to the comparable price in the first quarter of 2019 reached over 3,335 billion, up 37.76%, contributing to 4.95 percentage points out of a total of 8.75 percentage points of overall growth of the province. The remaining industries have a growth rate over the same period of 5.88%, contributing to the overall growth of the province is 0.63 percentage points.

- Service sector: Service sectors continued to be stable and developed with an increase from over 6% to nearly 10% over the same period last year. The total added value of services in the first quarter reached VND 3,930 billion, up 7.52% over the same period, contributing to the province's overall growth of 1.49 percentage points.

2. Agricultural, forestry and fishery production

2.1. Agricultural production

+ Cultivation:

- Winter crop production: Although the province has a lot of mechanisms and policies to support producers, but due to its high cost, it has to invest a lot of labor, economic efficiency is not high so a lot of area is empty. The total cultivated area of ​​the winter crop in 2018 - 2019 reached 15,625 hectares, down 11.97% compared to the previous winter crop. Of which: 7,188 hectares of corn, down 26.41%; 921 hectares of soybean, down 8.48%; vegetables of all kinds 4,465 hectares, down 0.35%; 1,696 hectares of sweet potatoes, up 0.11%; groundnut 177 ha, increasing by 7.54% compared to winter 2017-2018 season ...

Productivity and output of some major crops are as follows: maize reached 43.5 quintals / ha, up 0.88%, output reached 31,266 tons, down 25.8% compared to the previous winter crop; sweet potatoes reached 113.0 quintals / ha, up 3.01%, the yield reached 19,167 tons, up 3.1%; soybean reached 20.3 quintals / ha, up 4.97%, yield reached 1,865 tons, down 3.92%; vegetables of all kinds reached 223.13 quintals / ha, up 3.53%, output reached 97,108 tons, up 4.17% ...

- Cultivation of Spring crops: By the end of March 15, 2019, the whole province had planted 37,982 hectares of Spring crops, down 3.3% compared to the same period last year. In particular, 30,215 hectares of rice have been sown; 2,226 hectares of corn; 72 hectares of soybeans; 1,573 hectares of peanuts; 2,117 ha of vegetables of all kinds ... Currently, rice is in the period of tillering, local farmers are focusing on pruning and miles to ensure the density; Fertilize and take care of other crops according to the procedures and instructions of specialized agencies. In general, rice and other crops grow well.

+ Animal husbandry: Livestock production in the province in the first quarter was relatively stable, mechanisms and policies to support the restructuring of the Agriculture sector, including animal husbandry, continued to be implemented, creating favorable conditions. for people to be assured of production. However, in the first months of 2019, livestock production is still facing many difficulties, especially the output market for some types of products is still uncertain and unstable, such as the price of poultry eggs that have time to fall too low. (chicken eggs 1,000 VND - 1,100 VND / fruit, duck eggs 1,200 VND - 1,300 VND / fruit) along with the disease situation, especially African swine cholera outbreaks in many provinces and there are complicated expansion causing bad psychology for farmers.

2.2. Forestry production

In the first quarter of 2019, forestry units in the province and localities mainly focused on tending nurseries, field surveys, hoes and started planting spring crops. In order to contribute to forest protection in association with socio-economic development, at the same time protecting ecological environment, increasing forest cover ... on February 13, 2019, Vinh Phuc People's Committee held a ceremony to launch "The everlasting tree planting festival, to be grateful to Uncle Ho" in the spring of Ky Hoi 2019. In the first quarter of 2019, the province planted 469.7 thousand scattered trees, 97 hectares of concentrated forests, contracted to protect forests of 9.75 thousand hectares. The patrol, supervision of exploitation and prevention of forest fires have been strengthened, so from the beginning of the year until now, there has been no forest fires in the province.

2.3. Aquatic production

The production of aquaculture and fishing in the first quarter was expected to reach 5,195 tons, up 4.1% over the same period, of which aquaculture output reached 4,754 tons, up 4.6%; exploitation output reached 329 tons, down 1% over the same period. At the beginning of the new crop, the demand for seed for production increases and becomes more and more diversified. Large seed production establishments in the province as well as households specializing in seed production are actively cultivating and supplying seeds for farmers in and outside the province. It is expected that in the first quarter, aquatic seed production will reach 907 million, up 4.6% over the same period in 2018.

3. Industrial production

3.1. Production index

The industrial production index in March increased by 33.24% over the previous month and by 9.92% over the same period. For the whole first quarter, the index of industrial production increased by 11.48% over the same period last year. By industry sector I: mining industry decreased by 28.72%; processing and manufacturing industry increased by 11.50%; electricity production and distribution industry increased by 21.23%; water supply, management and waste treatment increased by 6.22%.

In the first quarter, there was a change in the proportion of growth contribution between the province's manufacturing and processing industries. The electronic components manufacturing industry has surpassed the motorbike manufacturing industry, taking the leading position in the growth contribution structure: the first quarter of 2018 accounted for 27.35%, the first quarter of 2019 accounted for 33.80%. of the total added value of the industry (while the corresponding proportion of the automobile industry is 15.51% and 12.94%; the motorcycle industry is 34.65 and 31.90%). Manufacturing index in the first quarter of electronic components industry increased to 34.62% over the same period; the added value was VND 3,335 billion, up 37.76%, contributing 4.95% points to the total growth of 8.75%.

The motorbike manufacturing industry still maintains a stable growth. Businesses are constantly updating new versions with many new features and styles to meet the needs of the people. Although the production index in the first quarter decreased slightly over the same period, the output in the quarter reached 459,970 vehicles, down 0.61% compared to the first quarter of 2018, but due to the production of high-value cars, the added value reached 3,147 billion Dong, up 2.62% over the same period.

The motor vehicle manufacturing industry continues to face difficulties when in 2019 the automobile market is forecast to be more competitive, most cars can enter Vietnam from the end of 2018. According to According to data reported by two businesses (Toyota and Honda), car sales in the first two months increased by 59.7% over the same period, but mainly imported cars (accounting for 52.3% of the total vehicle consumption). This is the reason that the car production of the two businesses decreased over the same period. Production results in the first quarter of 2019, the production of cars in 3 months was estimated at 13,832 vehicles, down 6.12% over the same period. The value added in the first quarter reached VND 1,277 billion, down 7.01% over the same period, reducing the overall growth of the province by 0.52 percentage points.

The remaining industries have kept good growth compared to the same period last year.

3.2. Main industrial products

In the first quarter, industrial enterprises in the province produce 63,133 tons of animal feed, up 7,70%; 1,476 thousand pairs of sports shoes, up 17.35%; 33,162 thousand m2 of ceramic tiles increased by 15.31%; 3,249 air conditioners, down 20.50%; 13,832 kinds of cars decreased by 6.12%; 459,970 motorbikes of all kinds decreased by 0.61%; 1,295 million kwh of commercial electricity increased by 21.23%; 5,892 thousand m3 of commercial tap water increased by 17.06% ...

3.3. Labor usage index

 The labor employment index of industrial enterprises in the area in March 2019 increased by 1.68% over the previous month and by 4.13% over the same period. Generally, in the first quarter of 2019, it increased by 0.12% over the same period. By industry sector, mining increased by 3.09%; manufacturing and processing industry increased by 0.12%, ... By economic sector, State-owned enterprises decreased by 2.70%; non-state enterprises increased by 1.80%; foreign-invested enterprises decreased by 0.31% over the same period last year.

3.4. Consumption index, inventory of manufacturing and processing industry

In the first quarter of 2019, the consumption index of the whole industry increased by 1.36% over the same period, a number of sectors with a relatively high consumption index such as processing and manufacturing of wood products, increased by 43.11%; chemicals and chemical products increased by 42.03%; metal manufacturing industry, up 28.49% ... Inventory index of the whole industry at the end of March increased by 5.94% over the previous month and by 11.62% over the same period. Some industries saw a decrease in inventory index compared to the previous month such as motor vehicle manufacturing, down 10.27%; chemical industry, down by 10.13% ... the industry's inventory index increased from the previous month like metal manufacturing industry, up 42.34%; paper and paper products industry, up 13.72%, manufacturing of beds, wardrobes, tables and chairs, up 9.54% ...

4. Investment, construction and enterprise development

The improved investment environment has attracted new projects, contributing to boosting investment capital in the province to achieve a fairly good level compared to the same period last year. It is expected that the total social development investment capital in the province in the first quarter will be VND 6,155 billion, up 13.38% over the same period last year. Of which, investment from state capital reached VND 1,265 billion, up 0.41%; non-state capital reached 3,437 billion dong, up 25.79%; Foreign direct investment reached 1,453 billion VND, up 4.16% compared to the same period last year.

The management of public investment is highly concerned, directed and operated by the Provincial People's Committee, regularly captured and updated information to speed up the implementation process, focusing on construction and disbursement. public investment. Allocation of capital is made strictly according to the principles in the mechanism of assignment and administration of state plans, which focus on priority payment of debts, transitional works, arrangement of new projects when ensuring full investment procedures in accordance with the Law on Public Investment and its guiding documents.

External economic activities, investment promotion continue to be focused. The provincial leaders welcomed and worked with many delegations of large organizations at home and abroad such as OECD; Lenovo Corporation of China; General Director of Interflex Vina Co., Ltd; delegation of Hannam University, South Korea; Ambassador Extraordinary and Plenipotentiary of the Russian Federation in Vietnam ... to enlist the mobilization, cooperation and investment promotion in the province. In the first quarter, the province approved the policy and granted investment certificates for 27 projects, including 19 FDI projects with a total newly registered investment capital of 87.1 million USD and 8 DDI projects with a total of newly registered investment capital is 5 trillion dong. As of the end of March 2019, the province has 1,070 projects including: 344 FDI projects with a total registered capital of 4.65 billion USD and 726 DDI projects with a total registered investment capital of 76.7 trillion dong.

In the first three months of 2019, the number of newly established private businesses was estimated at 260 enterprises with a registered capital of over VND 1,640 billion, an increase of 1.6% in the number of enterprises and an increase of 16.6% in the registered capital compared to with the same period of 2018. Simultaneously, there were 230 turns of enterprises carrying out procedures for registration of changing business registration; 25 enterprises implemented procedures for dissolution and 150 enterprises temporarily suspended business. Accumulated to March 31, 2019, the whole province had 9,844 registered businesses with a total registered capital of over VND 89 trillion, of which 7,215 were actually operating (equivalent to 73.3% of the registered enterprises. signed) and 2,629 enterprises temporarily suspended their business or waiting for dissolution due to limitations in financial capacity, management capacity, no production ground, no search of the market, ...

5. Finance, banking and insurance

5.1. Situation of State budget revenue and expenditure

The State budget collection has been strengthened, the tax sector has organized drastically and effectively to collect revenue right from the first days of the year; urge the settlement of state budget revenues in the locality such as: personal income tax, enterprise income tax, land revenues, charges, fees ...; regularly propagandize and implement measures to promptly remove difficulties and obstacles at the grassroots for effective collection ... Estimated total budget revenue in the first quarter of the province was VND 8,016 trillion, equaling 29 % compared to the yearly estimate, up 12.40% over the same period. In which: Domestic revenue reached 7,016 trillion dong, up 14% over the same period, reaching 29% against the yearly estimate; Revenue from Customs was estimated at 1,000 billion dong, up 2.35% over the same period.

State budget expenditure: The state budget revenue and expenditure tasks in 2019 have been guided in detail by costing units under the provincial and district budgets. The provincial People's Committee has provided additional funding to perform tasks for the entitled agencies and units to ensure timely; transfer funding from 2018 to 2019 to continue implementation. In general, the management of provincial budget expenditure in the first quarter of 2019 has been strengthened, strict expenditure control, expenditure management according to estimates, thrift practice and waste combat. Total state budget expenditure in the first quarter was estimated at 2.5 trillion dongs, reaching 15% of the estimate, equaling 95% over the same period.

5.2. Banking and credit activities

Implementing the 2019 business plan, effective credit growth goes hand in hand with credit quality control. In particular, the priority focuses on credit in the manufacturing sector, the priority field, creating favorable conditions in accessing credit capital of businesses and people. Strictly control credit for potential risk areas such as real estate, securities ...; strengthen risk management for BOT, BT transport and consumer credit projects. Actively and effectively implement the banking-business connection program.

 Currently, the mobilizing interest rate in the area is popular at 0.5-1% / year for demand deposits and terms of less than 1 month; 4.3-5.5% / year for deposits with term from 1 month to less than 6 months; 5.3-6.5% / year for deposits with a term of 6 months to less than 12 months; tenor of over 12 months stood at 6.5-7.3% / year. Lending interest rates in the area are common for priority areas at 6-6.5% / year for short-term; 7-9% / year for medium and long term. Lending rates for normal business sectors are 6.8-9% / year for short term; 9-10.5% / year for the medium and long term.

Total mobilized capital of credit institutions by the end of March is estimated at VND 66,280 billion; decreased by 3.96% compared to the end of 2018. In particular, deposits of economic organizations reached: VND 23,330 billion, down 17.41%; savings deposits of VND 42,950 billion, an increase of 7.28% compared to the end of 2018. Total outstanding loans as of the end of March are estimated at VND 67,450 billion; an increase of 0.28% compared to the end of 2018, of which: short-term loan balance is VND 42,190 billion; decreased by 1.06% compared to the end of 2018; accounting for 62.55% of the total outstanding loans; medium and long-term loan balance reached VND 225,260 billion, an increase of 2.62% compared to the end of 2018; accounting for 37.45% of total outstanding loans. March bad debt is estimated at 772 billion, accounting for 1.14% of total loans; Low bad debt contributes to improving the liquidity of the banking system, reducing interest rates, expanding credit growth, removing difficulties for production and business, and promoting economic growth in the province.

5.3. Insurance

Insurance continued to be widely implemented by industries and localities in order to best serve the people and labor classes. It is estimated that up to March 2019, the whole province has 979,451 people participating in all kinds of insurance. In which: Compulsory social insurance: 188,288 people; Voluntary social insurance: 2,656 people; Unemployment insurance: 178,000 people; Health insurance: 976,795 people. Compared to the target of Resolution No. 21-NQ / TW: social insurance coverage rate reaches 28.9% of the labor force, unemployment insurance reaches 26.9% of the labor force and the rate of health insurance coverage reaches 88.8% of the population.

By the end of the first quarter of 2019, the total amount of insurance premiums reached 1,083.2 billion, up 16.58% over the same period in 2018, reaching 24.2% compared to the assigned plan. The issuance of insurance books and cards is closely coordinated among relevant branches and according to the process. The payment, especially the payment of pensions and social insurance benefits, is done in a synchronized, quick and safe way to the target audience. In the first quarter, the social insurance benefits were promptly solved, in accordance with the regulations for beneficiaries of social insurance benefits with a total amount of 268.4 billion dong (of which: Expenses of social insurance is 175.3 billion dong, spending Health insurance is 93.1 billion dong). Specifically: Settlement of social insurance benefits for 186 people; Settlement of one-time social insurance benefits for 1,435 people; Settling sickness, maternity, convalescing for 22,035 turns of people; make a payment list for 1,195 people who receive unemployment insurance.

6. Trade, services and prices

6.1. Retail sales of consumer goods and services

The estimated total retail sales of consumer goods and services in the first quarter reached 12,291 billion VND, up 9.23% compared to the same period last year and increasing in all economic sectors. In particular, the individual and private economy still accounted for a high proportion and had a good increase: the individual economy reached VND 6,007 billion, accounting for 48.87% of the total, up 10.0%; the private economy was VND 5,082 billion, accounting for 41.35%, up 8.34% over the same period.

By economic sectors, the retail trade was estimated at VND 10,631 billion, accounting for 86.49% of the total, up 9.29% over the same period last year. In particular, the food and foodstuff industry increased by 7.52%; garments increased by 8.40%; wood and construction materials increased by 16.60%; all kinds of cars increased by 3.47% over the same period ...

In the quarter, tourism activities and festivals take place vigorously in association with cultural, sports and festivals at the beginning of the year. The tourism industry is estimated to welcome 1.75 million visitors, up 16% over the same period (international visitors are 10.88 thousand, domestic visitors are 1,739 million). Tourists come to the province mainly at Tay Thien Festival; Tam Dao tourist area; Resort areas: Red River Capital, FLC Vinh Thinh, Flamingo Dai Lai ... The revenue of accommodation, catering and tourism services in the first quarter was estimated at 913 billion, up 9.30% over the same period. In which, accommodation revenue increased by 9.02%, eating and drinking by 9.41% and tourism by 6.41%.

Other consumer service sectors were estimated at VND 747 billion, accounting for 6.08% of the total, up 8.27% over the same period last year.

6.2. Passengers and goods transportation

Estimated total volume of goods transport in the first quarter reached 8,063 thousand tons, equal to 619 million tons.km; over the same period increased 6.74% in tons and 7.19% in tons.km. Passenger transport volume is estimated at 6,563 thousand people, equal to 424 million people.km; over the same period increased 3.74% in people and up 3.82% in people.km. Total transport revenue was estimated at 1,068 billion dong, up 7.24% over the same period. In particular, road transport reached 854 billion VND, up 6.20%; waterway transportation reached 214 billion dong, up 11.62% over the same period ...

6.3. Consumer price index

Consumer price index (CPI) in March decreased 0.30% over the previous month, up 1.62% over the same period and up 0.73% compared to December last year. For the first three months of the year, CPI increased by 1.69% over the same period, lower than the increase of the first three months of 2018.

In line with the rules of the market, CPI of March 2019 decreased due to the decline in consumer demand after Tet holiday. CPI in March decreased in 5/11 main groups. Specifically: food and catering services decreased by 1.63%; garment, hat, footwear decreased by 1.31%; household appliances and appliances decreased by 0.13%; culture and tourism and tourism decreased by 0.11%; other goods and services decreased by 0.01% compared to the previous month. There were 2/11 groups with increasing indexes: Transportation group had an increase of 2.65%, mainly due to the increase of fuel group by 5.22% due to the adjustment of price increase of Vietnam Oil and Gas Group. Male (A95, E5 petrol prices: increase 879 VND / liter). Besides, due to the increasing construction demand, steel prices continued to increase from VND 100 to VND 150 / kg, from March 1, 2019, the price of gas was adjusted to increase by VND 15,000/ tank of 12kg (+4.43). %) causing housing, electricity, fuel and construction materials to increase 0.65%. Some other groups have relatively stable price.

Gold and US dollar price: Gold price in the province decreased slightly, the price index in the month decreased by 0.80% over the previous month. The average gold price on the free market is 3,582 thousand VND. The US dollar price on the free market in the months had gains and decreases. But the average of the whole March is stable compared to the previous month; The average selling price was around 22,527 VND / USD.

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