Quang Ngai Provincial People’s Committee (PPC) held yesterday 5 August 2008 its regular July Meeting in the context people in the province as well as throughout Vietnam were facing skyrocketing prices of fuel and soaring costs of living due to inflation and economic slowdown.
This monthly-held meeting as usual presided over by the PPC Chairman with participation of the heads of all provincial departments with a “routine agenda” of reviewing the province’s economic developments in the last July.
Despite the context of the nationwide economic slowdown triggered by gallop inflation followed by a sharp increase in consumer goods, the official statistic data shown up at the meeting revealed positive signs in Quang Ngai economy in the previous month.
The provincial economy was assumed to keep going rather well, though some slowdown, with its industrial production value of VND 281.4 billion (some 1% lower than that of June), making the total industrial production value of the past 7 months to VND 1,896.5 billion, an increase of 13.9% against same time last year.
The province’s July export turnover was calculated at USD 5 million, an increase of 16.6% compared to last month, with the exports chiefly composed of traditional products to regular markets. The accummulated export turnover for the past 7 months was estimated at USD 35.5 million, some 4% up against that of the same time last year, meanwhile its import turnover decreased 6.3% against last year with an amount of approximately USD 10 million for the 7 months.
Provincial total revenue of the month was estimated at about VND 129 billion, making the accumulated figure for the first 7 months of the year up to over VND 795 billion, accounting for some 52.8% of the year plan.
Good signs were found in a bumper crop to be harvested by farmers in this summer-autumn calendar.
Food security was firmly stablized, the crisis due to meager crops some months ago was over.
The CPI storm in July had clear signs of reducing its gusts with just 1.2% higher than June, the lowest rate recorded since the beginning of the year
Quang Ngai Provincial Government in the meeting showed its drastic efforts in preventing a potential outbreak of bird flu, PPRS, foot and mouth disease which were always looming over the province.
Quang Ngai economy this year may face a slight down in its growth rate as a result of increased inflation, and decrease of some hundreds of VND billion in tax collection of the year.
Earlier, the Provincial People’s Council resoluted to cut down the overall targets set forth for the provincial economic growth this year.
M.T
