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Friday, June 14, 2024

Dong Nai’s GRDP below target

By Le Hoang

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HCMC – Dong Nai’s gross regional domestic product (GRDP) reached VND246.45 trillion last year, up 5.3% year-on-year, but this growth rate was below the province’s target of 7.5 to 8.5%.

While the index of industrial production (IIP) increased by 5.21%, key sectors such as textile, garment, leather and footwear, chemicals and electronics struggled due to a drop in orders from abroad and supply chain disruptions, said the Dong Nai Provincial People’s Committee at an end-2023 press conference.

The challenging economic conditions led to job losses and reduced working hours. Over 80,000 workers had their working hours cut, and nearly 40,000 faced unemployment in 2023.

The southern province also reported difficulties in implementing domestic investment projects due to regulatory issues. Despite efforts to accelerate project execution, implementation lagged behind plans. Public investment disbursement in Dong Nai achieved only 94% of the estimate.

The province’s export value in 2023 dropped 11.73% over the previous year to US$21.7 billion. Imports also edged down by 17.12% year-on-year to US$15.78 billion.

Meanwhile, the province saw a decline in newly established businesses and registered capital, coupled with an increase in business closures and suspensions.

On the other hand, retail sales of goods and services surged by almost 12%, and tourism-related services gained growth of over 40%.

The province achieved a trade surplus of around US$6 billion.

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