Impressive quarter: The Bai Chay bridge in Quang Ninh. During the first three months, the province registered over US$683mil worth of foreign investment, accounting for up to 22.8% of the annual target. — Bloomberg
HANOI: Quang Ninh Province’s gross regional domestic product grew 8.79% in the first quarter of this year, to rank among the leading group in the country.
Total state budget revenue hit 13.16 trillion dong in the period, of which, domestic revenue was estimated at 9.16 trillion dong.
Local authorities attributed the period’s significant economic growth to the processing and manufacturing industries which rose 25.95% year-on-year.
Among the province’s industrial products recording high growth were cotton yarn, silicon, solar panels and vegetable oil.
During the first three months, Quang Ninh registered over US$683mil worth of foreign investment, making up 22.8% of the annual target.
Of that sum, US$633mil came from 13 newly-licensed projects, while the remaining US$51.2mil was from three capital-added ones.
In 2024, the province aims to attract total foreign investment capital of US$3bil.
It is home to 183 foreign-invested projects with total registered investment capital of over US$14.2bil.
Chairman of the provincial People’s Committee Cao Tuong Huy said the province prioritised attracting investment capital and facilitating investors.
Meanwhile, Secretary of Quang Ninh Provincial Party Committee Nguyen Xuan Ky said that his province would continue to develop the green economy, digital economy and night economy, focusing on developing general services, in which tourism would be a key economic sector.
The locality would also strive to become a modern service and industrial province, an international tourism hub, a maritime economic centre, a centre of dynamic and comprehensive development in the northern region, and an important transport gateway of Vietnam by 2025.
Under a resolution on orientations and tasks by 2025 issued by the provincial Party Committee, Quang Ninh aims to sustain double-digit growth in the next three years.
To obtain the targets, it would promote breakthrough steps with comprehensive reforms to secure sustainable development, green and inclusive growth, and economic development, Ky said.
It would also continue using public investments to attract private ones, especially through public – private partnership, improve the attraction of foreign investment to industrial parks and economic zones, prioritise investments in high-tech and environmentally friendly projects, and strongly facilitate private and startup companies.
Authorities will implement administrative reforms, improve the investment and business climate, remove barriers and create favourable conditions for enterprises to grow, he added.
The provincial budget will focus on ensuring social security, building influential structures, supporting production development, narrowing the development gap among local areas, and develop the local economy, he said. — Viet Nam News/ANN
