Quảng Ninh’s economy has recorded double-digit growth for eight consecutive years, and that momentum will continue this year thanks to appropriate policies and coherent measures.
According to the Party Executive Committee of Quảng Ninh province, its regional gross domestic product (GDP) is expected to reach 11.02% in 2023, up 0.74 percentage points from the previous year.
The city’s economic size is estimated at over VNĐ312 trillion ($13 billion).
The state’s total budget revenues reached 55.6 billion vN at the end of the year, which is 3% more than the previous year. Of these, the national income is estimated at 39.6 billion, which is 7% higher than the previous year, while the income from import and export activities will reach 16 billion.
At the same time, the province continues to promote administrative reform and improve the business investment environment. Quảng Ninh is known as a province with an open and favorable investment climate, wholeheartedly dedicated to businesses and investors.
To date, the province has attracted $5 billion in investment, including $3.1 billion in foreign direct investment (FDI), temporarily securing its position as the country’s leading province in attracting FDI this year.
It also ranks among the best performing provinces in the country in the Provincial Competitiveness Index (ICP), Public Administration Reform Index (IRAP), Public Administration Services Satisfaction Index (SIPAS) and Provincial Public Administration and Administrative Performance Index. (PAPI).
Provincial Party Committee Secretary Nguyễn Xuân Ký said that improving the quality of growth and development, maintaining the double-digit growth rate of regional gross domestic product (RGDP), and focusing on increasing the volume and contribution of processing. and improving efficiency in attracting manufacturing industry and new generation FDI flows to GDPR and budget revenues.
Ensure double digit growth by 2025
Quảng Ninh aims to maintain a double-digit growth rate in the next three years, according to the Resolution on Guidelines and Tasks for 2025 by the Provincial Party Committee.
To date, the province has attracted $5 billion in investment, including $3.1 billion in Foreign Direct Investment (FDI).
The city aims to become a modern industrial and service province, an international tourism center, a maritime economic hub, a dynamic and comprehensive development center in the northern region and an important transportation gateway of Vietnam by 2025.
To achieve these goals, Quảng Ninh will promote the implementation of innovative measures to promote comprehensive reforms that ensure sustainable development, green and inclusive growth and economic growth, said Nguyễn Xuân Ký, Secretary of the Provincial Party Committee.
The Vietnamese rubber industry is thriving
To attract private investments, especially through Public-Private Partnerships (PPP), improving the attraction of foreign investments to industrial parks and economic zones, prioritizing investments in high-tech projects and environment-friendly, will also be of great use. Facilitates private and startup companies.
The authorities will intensify administrative reforms, improve the investment and business environment, remove barriers and create a favorable environment for business development, he said.
The official added that the provincial budget will focus on ensuring social security, creating influential structures, supporting productivity growth, narrowing the development gap between local areas and fully realizing the potential and benefits of developing the local economy.
In 2022, Quảng Ninh recorded GRDP growth of 10.3%, ranking fourth in the Red River Delta. It mobilized VNĐ54.7 billion for the state budget, 4% more than in 2021.
The article was republished within the framework of an agreement between the two parties to share content from the Vietnamese state media VNA. Link to original article:https://vietnamnews.vn/Economy/1637083/quang-ninh-s-economy-maintains-growth-in-2023.html
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