According to the Can Tho Department of Finance, the city's economic growth in the first quarter reached over 7% compared to the same period last year, ranking 31st out of 34 provinces and cities nationwide. This figure is 2.5% lower than the baseline scenario (to achieve the annual growth target of over 10%).
Regarding public investment in Can Tho, the Department of Finance reported that the total allocated capital this year is over 19,200 billion VND. By the end of March, over 1,400 billion VND had been disbursed, reaching more than 7% of the plan assigned by the Prime Minister (not yet reaching the 20% target).
Explaining the reasons for the city's low growth in the first quarter, the Department of Finance pointed out that the industrial and construction sectors have not yet played their driving role, growing significantly lower than projected.
In the industrial sector, some key industries are still facing difficulties in terms of orders and consumer markets. The construction sector, especially housing and real estate construction, still faces many obstacles related to legal matters, procedures, land clearance, and a slow market recovery.
The service sector has not met growth expectations; although it is the highest-growing sector, it is still lower than projected. Meanwhile, the agricultural sector has shown stable growth but accounts for a small proportion and its added value is not yet high.
Regarding public investment, the disbursement rate is much lower than the scenario requirements, failing to create a ripple effect for economic growth. Some non-budgetary investment projects are slow to implement, have not generated production value, and affect their contribution to the gross regional product (GRDP).
For businesses, the number of new establishments and those resuming operations increased, but the number of businesses dissolving or temporarily suspending operations remained high; production and business activities were not yet stable. Credit growth did not meet the target, indicating that the economy's capacity to absorb capital was still limited…
According to the Can Tho Department of Finance, in order to achieve double-digit growth this year, growth in the remaining quarters must exceed 10%. Many tasks and solutions have been proposed, with the disbursement of public investment capital being a key and urgent priority.
