1. Agricultural, forestry and fishery production
1.1. Agricultural production
a. Cultivation
As of mid-November, farmers have basically finished planting the winter crop of 2023-2024. The total area of all types of crops is estimated at 13,821 hectares, down 3.75% (equivalent to 539 hectares) over the same period last year. Specifically, corns reached 5,184 hectares, decreasing by 3.78%; sweet potatoes reached 1,200 hectares, down 2.17%; Peanuts reached 192 hectares, dropping by 8.29%; Soybeans reached 391 hectares, down 11.55%; Vegetables of all kinds reached 4,852 hectares, falling by 3.82%, etc. The planted area of most winter crops this year decreased compared to last year's winter crop while the area of vacant land tended to go up.
b. Livestock
In November 2023, livestock production remained stable, but the industry still faced difficulties due to price fluctuations and market factors, especially pig farming. Live pig prices continued to remain low due to African swine fever in some provinces, causing farmers to increase the quantity of pigs sold. The selling price of live pigs in the province is currently below 50,000 VND/kg, down from 3,000 VND/kg - 5,000 VND/kg compared to the same time last month. Total live pig output in November is estimated at 10.3 thousand tons, up 2.68% over the same period last year. Overall for the first 11 months of the year: Total live pig output is estimated at 118.9 thousand tons, an increase of 2.89%; Live buffalo and cow output continued to drop due to low economic efficiency, estimated at 6,247.8 tons, down 3.29%; live pig output is estimated at 75,640 tons, up 3.14%; Live poultry output is estimated at 37,056 tons, up 3.49%; Fresh cow's milk output is estimated at 54,200 tons, an increase of 8.08%, etc. During the month, the inspection and supervision of livestock and poultry diseases was strictly carried out, and no infectious disease epidemics had been detected in the province.
1.2. Forestry production
In November 2023, harvested wood output reached 4,785 m3, an increase of 2.68%; Firewood output is estimated at 4,128 Ste, up 1.67%; the total number of scattered trees reached 69.4 thousand. Forest fire protection and prevention work was generally implemented well. During the month, no forest fires occurred in the province.
In total for the first 11 months, wood exploitation is estimated at 44,081 m3, an increase of 2.84%; firewood exploitation is estimated at 44,725 Ste, up 0.4%; the total number of scattered trees reached 875 thousand, an increase of 40.04% over the same period last year.
1.3. Fishery production
In November 2023, total seafood production is estimated to reach 2.0 thousand tons, an increase of 3.3%; of which: aquaculture output is estimated at 1.84 thousand tons, up 3.47%, exploitation output is estimated at 161.2 tons, an increase of 1.38%. Aquatic seed production is estimated at 64.5 million heads, up 3.2% over the same period last year. Overall for 11 months, total fishery output is estimated at 22.2 thousand tons, an increase of 3.27%; of which, aquaculture output is estimated at 20.5 thousand tons, an increase of 3.45%, and fishery exploitation output is estimated at 1.7 thousand tons, an increase of 1.16%. Aquatic seed production reached 3,107.5 million heads, an increase of 1.48% over the same period in 2022.
2. Industrial production
In November 2023, the IIP is estimated to increase by 5.61% over the previous month and by 3.40% over the same period last year. Compared to the same period, the Mining industry rose by 6.4%, the Processing and Manufacturing industry increased by 3.37%, and the Production and distribution of electricity, gas, hot water, steam and air conditioning increased by 9.68%, Water supply, waste and wastewater management and treatment activities grew by 1.26%.
In key industries: The electronic components manufacturing industry returned to growth in October and November after a decline in September, the IIP index in November 2023 is estimated to increase by 8.33% compared to last month and increased 16.49% over the same period last year, cumulative increase of 7.84% for the first 11 months. The automobile manufacturing industry's IIP in November 2023 increased slightly compared to the previous month but still dropped quite sharply over the same period last year (-13.8%); Motor vehicle production output for the first 11 months is estimated at 38.2 thousand vehicles, down 23.81% compared to the first 11 months of 2022. The motorbike manufacturing industry faces more difficulties when recording a series of 9 consecutive months with a decrease in IIP compared to the same period last year, in which, November 2023 is the month with the deepest decrease (-24.55%), cumulative decrease for the first 11 months is 12.81%. The textile industry and the leather and related products manufacturing industry recorded a fall of 11.14% and 18.77% respectively due to low consumption demand, high inflation, and people limiting purchases of non-essential items. The production of non-metallic mineral products fell by 24.94%, because the people’s demand for investment in housing construction has dropped and the real estate market has not recovered.
Production output of some products: In November 2023, in addition to animal feed output and electronic component service revenue, which recorded an increase compared to the same period last year, the remaining main products output all decreased; of which, the sharpest decrease was in motorbike products with a decrease of 24.68%. For the first 11 months, most of the province's main industrial products such as animal feed, sports shoes, tiles, cars of all kinds, and motorbikes of all kinds decreased in output over the same period last year; Electronic components revenue alone increased by 7.84%, lower than the growth of 21.51% in the same period in 2022 compared to 2021.
The labor utilization index of industrial enterprises in the area in November 2023 grew by 2.83% over the previous month and grew by 6.26% over the same period last year. Categorized by enterprise type: Labor utilization index of state-owned enterprises decreased by 1.72%, that of non-state-owned enterprises increased by 0.89% and that of foreign-invested enterprises increased by 7.13% compared to same period last year.
The consumption index of the entire processing and manufacturing industry in November 2023 is estimated to rise by 8.36% over the previous month and fall by 4.53% over the same period last year. Compared to the previous month, some industries had a decent increase: Apparel manufacturing industry increased by 21.75%; Leather and related products manufacturing industry increased by 20.73%; Other non-metallic mineral products manufacturing industry increased by 12.05%; Motor vehicle manufacturing industry increased by 32.45%.
Inventory index of the entire processing and manufacturing industry: In November 2023, the processing and manufacturing industry had an inventory index falling by 1.23% over the previous month and increasing by 24.41% over the same period last year. Some industries saw a significant decrease in inventory index: rubber and plastic products manufacturing industry fell by 8.63%; Electrical equipment manufacturing industry dropped by 32.54%; Motor vehicle manufacturing industry decreased by 22.21%.
3. Business investment and development
3.1. Implemented investment capital from the State budget
In November 2023, controlling and maintaining stable construction material prices, while promoting the disbursement of public investment capital in the last months of the year, has created positive impacts on implemented investment capital from state budget capital. As a result, the total investment capital from the locally-managed State budget capital is estimated to reach VND 1,255 billion, an increase of 24.46%. Of which, provincial-level state budget capital is estimated to reach VND 679 billion, down 0.68%, district-level budget capital is estimated at VND 429 billion, up 56.02%, commune-level budget capital is VND 147 billion, up 194% over the same period last year.
Overall, in the first 11 months of the year, it is estimated to reach VND 8,361 billion, an increase of 22.58% over the same period last year and reaching 77.38% of the assigned plan. The rate of implementation of investment capital from the State budget was highest in works and projects with foreign investment capital (ODA) with VND 281.4 billion, completing 71.06% of the assigned plan. The provincial-level State budget capital is estimated to reach VND 4,213 billion, an increase of 5.66%, district-level budget capital reached VND 3,165 billion, an increase of 32.79%, and commune-level budget capital reached VND 983 billion, an increase of 118.38% compared to the same period last year.
3.2. Direct investment attraction
According to data from the Department of Planning and Investment of Vinh Phuc province, by November 15, 2023, the whole province had attracted 29 DDI projects (13 new projects, 16 capital-adjusted projects) with total registered capital of VND 21.28 trillion VND, up 74.15%. During the month, there were no newly-registered projects or projects registered for capital increase. 70 FDI projects were attracted (26 new projects and 44 capital-adjusted projects) with a total registered capital of USD 583.32 million, an increase of 83.45% over the same period last year. The processing and manufacturing industry continued to be a key sector in attracting FDI investment with 66/70 projects. The familiar investment partners (Japan, Korea, Taiwan, and China) still accounted for a large proportion. Investment capital of Taiwanese investors increased sharply (reaching USD 176.18 million, accounting for 30.20% of total registered capital), ranking first among countries and territories registering to invest in the province in the first 11 months of 2023.
3.3. Business registration situation
The number of newly established businesses continued to rise, however, the decline in the number of businesses returning to operation and the increase in the number of businesses withdrawing show signs of difficulties and challenges that businesses are facing in the current business environment. As of November 15, 2023, the whole province has 1,364 newly registered businesses with a total registered capital of VND 10,287 billion, expecting to create jobs for 8,798 employees, an increase of 10.45% in number of businesses, but a drop of 5.83% in number of employees and 51.36% in registered capital compared to the same period last year. Service industries are the group with the highest growth with some industries having a high increase in the number of businesses over the same period last year such as: The arts, entertainment and recreation industry increased by 120%; education increased by 88.89%; the transportation and warehousing increased by 48%; information and communication increased by 60%.
The number of enterprises returning to operation in the first 11 months of 2023 was 344 enterprises, down 10.18% over the same period last year, bringing the total number of newly established enterprises and enterprises returning to operation to 1,708 (On average, there were 155 businesses newly established and returning to operation in total each month). The number of businesses withdrawing from the market continued to grow, cumulatively in the first 11 months of the year, there were 831 such businesses, an increase of 37.13% over the same period last year, including 695 businesses temporarily suspending their business for a certain period of time and 136 businesses completed their dissolution procedures. On average, 75 businesses withdrew from the market each month.
4. Trade and services
4.1. Retail sales of goods and consumer services revenue
In November 2023, total retail sales of goods, revenue from accommodation, food and beverage services, travel and tourism and other consumer service revenue are estimated to reach VND 7,070.2 billion, an increase of 1.57% compared to October and an increase of 9.79% over the same period last year. Specifically:
Retail sales of goods are estimated at VND 6,033.9 billion, accounting for 85.34% of the total, up 1.69% over the previous month and up 9.08% over the same period last year. Among the 12 main retail product groups, there were 3 industries with high revenue increases in November 2023 over the same period last year, specifically: Garment revenue is estimated at VND 326.3 billion, up 38.78%; Vehicles, excluding cars (including spare parts), are estimated at VND 351.8 billion, an increase of 37.71%; Other fuels (except gasoline) are estimated at VND 65.5 billion, an increase of 23.46%.
Revenue from accommodation, food and beverage, and travel services is estimated at VND 609.6 billion, accounting for 8.62% of the total, up 0.02% over the previous month and up 14.42% over the same period last year. Of which, accommodation service revenue is estimated at VND 84.3 billion, up 1.03% over the previous month, down 13.65% over the same period last year; food and beverage service revenue is estimated at VND 493.2 billion, up 0.41% over the previous month, up 19.3% over the same period last year; Tourism service revenue is estimated at VND 32.1 billion, down 7.87% over the previous month and up 47.54% over the same period last year.
Revenue from other consumer services is estimated at VND 426.8 billion, accounting for 6.04% of the total, up 2.19% over the previous month and up 13.63% over the same period last year.
In the first 11 months of 2023, total retail sales of goods and consumer service revenue are estimated to reach VND 73,872.7 billion, an increase of 19.48% over the same period last year. Of which: retail sales of goods reached VND 62,937.7 billion, an increase of 17.03%; Revenue from accommodation, food and beverage, and travel services was VND 6,600.7 billion, a growth of 47.28%; Revenue from other consumer services industries was VND 4,334.3 billion, an increase of 21.59% over the same period in 2022.
4.2. Passenger and Freight transport
Passenger transport: Passenger transport revenue is estimated at VND 88.24 billion, an increase of 2.42% over the same period last year with over 2.1 million transported passengers, a growth of 18.96% and 143.0 million passenger.km of turnover, increasing by 40.59% over the same period last year.
Freight transport: Freight transport revenue is estimated at VND 461.8 billion, up 27.49% over the same period last year, reaching 5.2 million tons of transported goods, up 40.05% and 381.5 million ton.km of goods turnover, increasing by 33.36% over the same period last year.
In the first 11 months of the year, transportation revenue is estimated at VND 5,575.8 billion, up 18.86% over the same period last year. Passenger transport reached nearly 21.5 million passengers, an increase of 19.94%, and turnover of 1,333.2 million passenger.km, increasing by 26.07% over the same period last year. Freight transport reached nearly 50.8 million tons of transported goods, an increase of 33.69%; the turnover is estimated at 3,656.9 million ton.km, up 37.6% over the same period last year.
4.3. Price index
In November 2023, that some areas increased tuition fees in accordance with Resolution No. 13/2023/NQ-HDND, dated July 20, 2023 of the People's Council of Vinh Phuc province regulating tuition fees for public educational institutions in Vinh Phuc province in the 2023-2024 school year; and domestic rice prices increased along with export rice prices are the main reasons causing the consumer price index (CPI) to increase slightly by 0.12% compared to the previous month. November CPI decreased by 0.06% compared to December 2022 and decreased by 0.26% compared to the same period last year. On average, in the 11 months of 2023, CPI increased by 2.35% over the same period last year.
Among the 11 main groups of consumer goods and services, there are 6 groups of goods increasing in price and 5 groups of goods decreasing in price in November 2023. Specifically, the price index of the education group increased by 9.56%, the highest index increase compared to the other groups, making the overall CPI increase by 0.62 percentage points; The price index of the beverage and tobacco group increased by 0.88%, of juice products increased by 1.87%, of strong alcohol increased by 4.03%, of tobacco increased by 1.30%, and of the culture, entertainment and tourism group increased by 0.37%, etc.
On the other hand, the food and catering services group decreased by 0.95% compared to the previous month, causing the overall CPI to decrease by 0.32 percentage points. Although export rice prices continued to increase sharply after India issued a ban on rice exports, making the price of processed food products and other cereals increase and the food group price index increase by 3.30%, during the month, prices of most food items in the area decreased sharply compared to the previous month. Specifically, pork prices decreased by 4.06%; poultry meat decreased by 6.85%; animal organs decreased by 2.30%; roasted meat, pork sausage, pork roll decreased by 3.0%; eggs of all kinds decreased by 0.31%; the group of housing, electricity, water, fuel and construction materials decreased by 0.55%; transportation group decreased by 0.87%; postal and telecommunications group decreased by 1.16%, and so on.
- Gold price index and US Dollar: In November 2023, gold price index increased by 3.69% compared to the previous month, increased by 10.48% compared to December 2022 and increased by 1.38% over the same period last year; Average gold price in the first 10 months of 2023 increased by 2.23%. The US dollar price index increased by 0.21% over the previous month, an increase of 0.37% compared to December 2022 and 0.04% over the same period last year. On average, in the first 11 months of 2023, the USD price increased by 1.12%.
5. Finance, banking, insurance
5.1. Situation of the State budget revenue and expenditure
Given the difficulty in the economic situation, policies to reduce taxes and other costs have been implemented to support the business community and residents, but at the same time, also pose a significant challenge to the government's budget revenue. conscious. As of November 15, 2023, according to the data from the State Treasury, total budget revenue in the area reached 22,582 billion VND, down 25.43% over the same period, equal to 69.84% of the estimate assigned at the beginning of the year. The lackluster real estate market caused revenue from real estate to decrease by 51.03% over the same period, and the decrease by 26.43% in the revenue from foreign invested enterprises, which accounted for 56.45% of total budget revenue in the area, are the main factors making domestic revenue in the first 11 months of the year decrease by 24.79%. Revenue from Customs reached 4,234 billion VND, down 28.34% over the same period last year.
Total State budget expenditure as of November 15, 2023 reached 21,817 billion VND, an increase of 15.21% over the same period. Specifically, development investment expenditure (including advances) increased by 19.77%; Regular expenditure increased by 9.39% over the same period. In general, budget expenditure management has been strengthened and strictly controlled; expenditures are managed according to estimates; thrift practice and waste prevention have been implemented, while the local socio-economic development needs are still ensured.
5.2. Banking and credit activities
In order to reduce financial pressure and stimulate production and business activities of enterprises, commercial banks have reduced interest rates for loans with existing outstanding balance and new loans by 1.5-2%/year. At the same time, capital is concentrated to serve production and business development, especially industries applying high technology, clean technology and priority fields. Loan interest rates in November 2023 in the area were mostly from 4 to11%/year for each term and subject; Deposit interest rates in VND mainly ranged from 0.2 to 7%/year for each term.
Total mobilized capital is expected to reach 120,000 billion VND by November 30, 2023, an increase of 9.51% compared to the end of 2022. The difficulty in production and business makes economic organizations have no idle funds and FDI enterprises repatriate profits and switch to foreign bank services, causing deposits from economic organizations to decrease by 2.47% compared to the end of 2022. In contrast, savings deposits among the public maintained good growth momentum, estimated to reach 80,700 billion VND, an increase of 16.48% compared to the end of 2022, accounting for 67.25% of total mobilized capital. In addition to locally mobilized capital, local credit institutions received regulated capital from the Head Office to increase resources, compensate for liquidity, and meet the capital demands of the economy.
It is estimated that by November 30, 2023, total outstanding balance will reach 125,000 billion VND, an increase of 7.96% compared to the end of 2022, mainly short-term and highly liquid loans. Specifically, short-term outstanding balance increased by 7.13%, while medium and long-term outstanding balance increased by 10.04%. To calculate by borrowers, outstanding balance from household, private and individual sectors still accounts for a large proportion of 56.65% of total outstanding balance, while the corporate sector accounts for 43.20%, an increase of 10.69% compared to the end of 2022. The bad debt ratio remained below 1%, estimated at 0.84% of total outstanding balance.
5.3. Insurance
It is estimated that by November 30, 2023, the whole province will have 1,152,185 people participating in all types of insurance. Specifically, 248,876 people have participated in social insurance, accounting for 43.2% of the workforce (of which, compulsory social insurance: 231,241 people; voluntary social insurance: 17,635 people); 222,842 people have participated in unemployment insurance, accounting for 38.7% of the labor force; 1,136,494 people have participated in health insurance, with the health insurance coverage rate reaching 93.9% of the population. Total insurance revenue of all types is estimated at 5,775.3 billion VND, reaching 90.8% of the assigned plan and increasing 11.11% over the same period in 2022. Payments, especially pension and allowance for social insurance, are implemented synchronously, quickly, safely and directly for the beneficiaries: in the first 11 months of the year, the provincial social insurance has processed monthly social insurance benefits for 657 people; resolved one-time social insurance claim for 12,565 people; resolved sickness and parental and convalescence insurance benefit for 133,366 people; prepared a list of payments for 12,335 unemployment insurance beneficiaries.
6. Social issues
6.1. Medicine
Situation of some infectious diseases: During the month, cases of COVID-19, dengue fever, Adenovirus disease, chickenpox, hand, foot and mouth disease, etc. continued to be recorded, with no deaths due to infectious diseases. Specifically, compared to last month, there were 400 cases of dengue fever, an increase of 167 cases; 450 flu cases, an increase of 34 cases; 03 cases of hepatitis B virus, a decrease of 06 cases; 82 cases of diarrhea, a decrease of 01 case; 134 cases of HFMD, a decrease of 17 cases; 10 cases of Covid, a decrease of 15 cases, etc. All cases were promptly treated by medical facilities, preventing disease outbreaks from occurring.
Situation of food safety and hygiene: During the period, the Health sector and People's Committees of all levels organized inspection teams and supervised 211 establishments on food hygiene and safety. The number of establishments meeting the standards was 192, accounting for 91% of the total; Among 407 food samples tested, 405 passed, 01 failed and 01 has not received the result, and no food poisoning cases were recorded in the province.
HIV/AIDS prevention work: In Vinh Phuc province, as of early November, cumulatively, there were 4,868 people infected with HIV, 2,333 people progressing to AIDS, 1,107 people dying from AIDS, 1,387 HIV patients alive and having household registration in the province, and 1,164 patients receiving ARV treatment.
6.2. Security, order, traffic, fire prevention, environmental protection
Security and order situation: The security and order situation in the province is generally stable. During the month, the Provincial Police deployed many professional plans to deal with crimes that frequently occur in the area such as fraudulent appropriation of property, usury, robbery, theft, etc. As of November 15, 2023, there were 503 cases of violating social order and safety in the whole province, causing 196 people to be injured, 07 people to die and a property damage of 73.9 billion VND, while 465 cases have been investigated and clarified, with 972 criminals arrested and assets worth 17.05 billion VND recovered.
Traffic safety situation: In November, the whole province had 30 road traffic accidents with 12 deaths and 28 people injured; In the first 11 months of the year, there were 88 accidents, causing 44 people to die and 92 people to be injured. Compared to the same period, the number of accidents increased by 25 cases, the number of deaths increased by 17 people, and the number of injured people increased by 74 people.
Environmental protection work: During the month, 34 environmental violations were detected in the province, of which 34 cases have been dealt with a total fine of 185.2 million VND. In the first 11 months of the year, cumulatively, 353 cases of environmental violation were detected, an increase of 24 cases, with a total fine of 2.87 billion VND, an increase of 8.69%./.
Source: Report No. 677/BC-CTK, dated November 28, 2023 of the Department of Statistics
