Creating Breakthroughs from “Phu Yen Year of Business 2016”

In recent years, global and domestic economic volatility dragged on the province’s socioeconomic development. However, with drastic actions and efforts of local people and businesses, Phu Yen province has witnessed remarkable socioeconomic progress. In 2010-2015, the province’s average annual GRDP growth was 11.5 per cent. The economic structure was shifted positively, with the share of industry and construction value exceeding the share of agriculture, forestry and fishery in GRDP. Per capita income reached VND32.8 million in 2015. The State budget revenue rose by 17.2 per cent a year on average, reaching nearly VND2,900 billion in 2015.

 

Agricultural, forestry and fishery production developed steadily. Industrial production and construction expanded 13.2 per cent a year on average. Ground traffic networks were upgraded to interconnect all districts and reach other localities across the country. Schools and hospitals at all levels were invested for upgrading. All communes had access to electricity and post offices. Radio and television service coverage reached all localities. Nam Phu Yen Economic Zone and High-tech Agricultural Area were established, with infrastructure being built. The province is carrying out several important projects such as Vung Ro petrochemical and oil refinery complex and NewCity Vietnam luxury tourism complex. Centrally funded projects are being implemented effectively, including a tunnel through Ca Pass and a tunnel via Cu Mong Pass. National target programmes on new rural construction achieved positive results. As of the end of 2015, 17 out of 88 communes met new countryside standards. In the past three years, 1,500 km of rural roads were asphalted or concreted.

 

Cultural and social fields also made progress. By the end of 2015, the poverty rate was reduced to 7.72 per cent.

 

 

To successfully achieve goals and targets set for the five-year plan from 2015 to 2020, Phu Yen province has mobilised all available resources to seek breakthrough solutions as stated in the Resolution of the 16^th Provincial Party Congress, including the continued infrastructure construction for Nam Phu Yen Economic Zone, Vung Ro petrochemical and oil refinery. The province will draw more investment capital for training and developing human resources, attract highly qualified human resources, and encourage cooperation between schools and enterprises. Phu Yen will focus on carrying out agricultural restructuring scheme and national target programmes for new countryside construction, developing infrastructure and attracting investors into Phu Yen High-tech Agricultural Area. It will also reshuffle personnel at State agencies and step up public administration reform to raise its provincial competitiveness index (PCI) and the Provincial Public Administration Performance Index (PAPI) and improve the investment and business environment.

 

In 2016, the province will concentrate on some measures to implement plans specified in the Resolution of the 16^th Provincial Party Congress, particularly six action programmes launched by the Provincial Party Committee; sped up the agricultural restructuring scheme to enhance added value and sustainable development; and carry out the Directive 04-CT/TW dated January 7, 2016 of the Standing Committee of the Provincial Party Committee on the Year of Business - Phu Yen 2016.

 

2016 was chosen the Year of Business by Phu Yen province. The Standing Committee of the Provincial Party Committee issued directives and the People's Committee launched action plans to deploy. The province has focused on some measures like increasing dialogues between provincial officials with local businesses, helping them access bank loans, speeding up administrative procedure reform and professionalising working manner, providing business support information to minimise costs for citizens and businesses, and supporting people and companies to compensate land and clear investment sites.

 

Particularly, one of the action programmes adopted by the provincial government is to accelerate public administration reform, raise PCI and PAPI, and create an open, healthy and fair investment environment with a lot of practical solutions to help local companies deal with difficulties to achieve successful business results.

 

Phu Yen has a favourable geographical location as it lies on main traffic routes of the nation, including National Road 1 running from the north to south of Vietnam, National Road 25 and National Road 29, railroads, ground roads, waterways, seaports and Tuy Hoa Airport. Hence, the province has many conditions for developing trade, economy and tourism. It also has a vast fishing ground together with a 189 km long coastline, the longest in any southern central coastal provinces. It also has many sheltered bays, a good condition for developing aquaculture and commercial fishing. Besides, Phu Yen is rich in minerals, including granite, diatomite, fluorite, bauxite, peat and placer gold, with sufficient reserves for commercial production. The province now has three large-scale industrial parks, Nam Phu Yen Economic Zone and High-tech Agriculture Area with a basically complete infrastructure for investors to locate their projects. Last but not least, Phu Yen is home to many beautiful scenic spots such as Xuan Dai Bay, Vung Ro Bay, Da Dia Reef, Bai Mon Beach and Dien Cape together with a number of historical sites. An abundant labour force and relatively modern training facilities will meet employment demands from local enterprises.

 

To sustain growth and expand investment in various socioeconomic sectors, from now to 2020, Phu Yen province has worked out many development plans and support policies for various sectors. Phu Yen province is committed to showing the spirit of responsibility and cooperation with all investors, accompanying investors, accelerating administrative procedure reform, and actively tackling difficulties to bring investment projects into timely operation.