Quảng Ninh among leading localities in Q1 GRDP growth

The province’s total state budget revenue hit VNĐ13.16 trillion in the period, or 22 per cent of the estimate. Of which, domestic revenue was estimated at VNĐ9.16 trillion.

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Part of the Ao Tiên-Cát Linh New Urban Area in Vân Đồn District, Quảng Ninh Province. — VNA/

Theo Vietnamnews

Photo Văn Đức

HÀ NỘI — Quảng Ninh Province’s gross regional domestic product grew 8.79 per cent in the first quarter of this year, to rank among the leading group in the country.

Total state budget revenue hit VNĐ13.16 trillion in the period, or 22 per cent of the estimate. Of which, domestic revenue was estimated at VNĐ9.16 trillion.

Local authorities attributed the period’s significant economic growth to the processing and manufacturing industry which rose 25.95 per cent year-on-year. Among the province’s nine industrial products recording high growth were cotton yarn, silicon, solar panels and vegetable oil.

During the first three months, Quảng Ninh lured over US$683 million worth of foreign investment, making up 22.8 per cent of the yearly target. Of the sum, $633 million came from 13 newly-licensed projects, while the remaining $51.2 million was from three capital-added ones.

In 2024, the province aims to attract a total foreign investment capital of $3 billion.

It is home to 183 foreign-invested projects with a total registered investment capital of over $14.2 billion.

Chairman of the provincial People’s Committee Cao Tường Huy said the province prioritised attracting investment capital and facilitating investors.

Meanwhile, Secretary of Quảng Ninh Provincial Party Committee Nguyễn Xuân Ký 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 Việt Nam by 2025.

Under a resolution on orientations and tasks by 2025 issued by the provincial Party Committee, Quảng 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, Ký said.

It would also continue using public investments to attract private ones, especially through public – private partnership (PPP), 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 would further step up administrative reforms, improve the investment and business climate, remove barriers and create favourable conditions for enterprises to grow, he said.

The provincial budget would focus on ensuring social security, building influential structures, supporting production development, narrowing the development gap among local areas, and fully tapping into potential and advantages to comprehensively develop the local economy, the official added.

Theo Vietnamnews