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Hai Duong: Economic Development Oppotunities PDF Print
Tuesday, 11 March 2014 17:09

Hai_Duong_Eco1VIETRADE - Over the past years economic growth has been steadying at a high pace, structural shift being positive.GDP in the period of 2005-2008 grew 10.97 % per annum. Growth in construction – industries averaged 13%, the service sector, 11.5% 2008 economy rated 1.37 times that of 2005.


Economic structure shifting moves toward ascending shares of industries, construction, services and lowering shares of agriculture. Agriculture - forestry - fishery, construction, services part-takings in 2005 were, respectively 27.1%, 43.5%, 29.3%. Comparative figures in 2008 were 25.8%, 43.7%, 30.5%. In a 3-year period, the State economic sector grew an average of 5.57% annually; the non-state sector grew by 9.03 %, the foreign investment sector, 42.07%.



Industries: Industries show high growth output value in the period of 2006-2008 increased by 15.7% annually. 2008 value estimation (by 1994 reference index) hit VND 18,099.5 bn, marking some 15.9% increase over the same period of the previous year. Central Government State industries output was valued at VND 6,537 bn, rising 5% over 2007, local industries output, at VND 3,988.3 bn, jumping 15.9%, foreign investment industries hit VND 7,574.1 bn, leaping by 24.1%. Structural shifting directed toward cutting edge, high-tech industries, nonstate industries, foreign investment ones. Key industries such as electric power, mechanical engineering, mineral mining and processing, textile-garment making, beer, alcoholic drinks and beverage, food, agricultural products processing, of labor intensive nature, command development priority .


Major industrial products of the province consist of garments, footwear, motor vehicles, electric cables, cement,

ceramic tiles, bottled beer, and quarry stone.


IP planning and development: 10 IPs have been planned on a land space of 2,719ha. Through liberal, clear policies, privileging native and foreign investors, plus propitious locations, Hai Duong has enticed investors to come to its IPs. By 2008 ending, there have been 118 validly operational projects, mainly in the 10 IPs, with registered capital totaling USD 1.844 bn. Tan Truong, Phuc Dien, Nam Sach IPs have got full land space occupancy. The Prime Minister of the Government ratified enlisting Hai Duong 10 IPs in expansion and new priority development perspectives to the year 2010 with envision to 2020. Concretely, Phuc Dien, Tan Truong, Viet Hoa- Ken Mark have been earmarked for expansion. The remaining 7, slated for new establishment priority listing: Quoc Tuan-An Binh IP, Kim Thanh IP, Luong Dien- Ngoc Lien IP, Binh Giang IP, Thanh Ha IP, Hoang Dieu IP, Hung Dao IP. Concurrently, Hai Duong Province has proceeded to planning of and calling for investment in infrastructures building for 35 Industrial Clusters (ICs) covering 1,402.5ha. These ICs have drawn in 274 land lease projects taking 490ha (58% of industrial zoning) with VND 4,639 bn and provision for employment of 51,434 labors. IP and IC development have driven industrial-economic growth, economic structural shifting toward aggrandizement of processing industries and exports to meet the objective of creating momentum for sustained industrial growth, to boost investment attractiveness, push exports, to meet demand for world economic integration.


Hai_Duong_Eco2Trade services: Services have quickly expanded and greatly diversified, increasingly responding to people’s lives. Services output value in the period of 2007-2008 (reference 1994 index) rose by 13.75%. In 2008, retail businesses and services amounted to USD 8,652.7m, surpassing 2007 24.2%. Export revenue came to USD 616.5m, exceeding 2007 by 83%. Three export commodities surpassed the USD 100 m bench mark: electronic goods making USD 175.5m, garments, USD 119.8 m, electric wires and cables, USD 182 m. Key local export items consist of garments, footwear, processed food, fruit and vegetables. Export markets have enlarged to reach 25 countries and territories. 2008 total import expenditures valued at USD 5m, marking an increase of 49.1% over 2007. Main import products were materials, raw materials, machinery and equipment for manufacturing consumer goods and export goods.


Other services have grown fairly well: 9.9% increase in tourist staying time, 22% hike in tourism revenue, 118.3% rise in transport payload, 127.6% in passenger transport volume, 39% rise in local capital mobilization, 24.1% increase in excess loan balance. Telecom networks recorded 8,107 new subscriptions to fixed land line, 18,317 cell phone subscriptions, 11,080 ADSL Internet subscribers.


Agro-forestry-fishery: showed 3.1% increase in output value over the period of 2006-2008 their 2008 output value rose by 5% over 2007. Plant cultivation acreage was166.813ha (2.1% fall). Food production reached 779,256 tons (2.2% increases). Fishery acreage was 9,765ha (1.2% rise) fishery production hit 45,663 tons (13.8% rise over 2007). Good management of 10,630ha of forests has been carried out, to mention 1,540 special purpose forest 4,718ha of flood guarding forest, 4,371ha of wood exploitation forest. An annual tree planting campaign has been maintained to entice the locals to plant scatteringly 1-1.2 million trees a year. Overall, the agriculture-rural economy develops thoroughly. Agro-forestry-fishery structural shifting moves toward raising the share of animal husbandry and fish farming. Farming and rural programs, projects are pushing forward, yielding positive results.


Investment attraction: As of 2008 ending, there have been 200 plus investment projects by 23 countries and territories. Total registered capital amounted to USD 2.3 bn. Of these 111 projects have entered business operation, providing direct employment for over 63,000 labors. Total paid-up capital was USD 1,546bn (48.3% of registered capita). There are, actually, 3,079 domestic enterprises investing more than VND 20,033.735bn. Private enterprises number 816, Ltd firms, 1,275, Joint Stock companies, 908. Altogether, they provide jobs for labors 150,000 labors plus.


State coffers revenue and expenditures: The year 2008 saw significant local remittances to state coffers in the amount of VND 3,505 bn, marking a 17.6% rise over 2007. Expenditures disbursed VND 4,176.249bn, of which 1,090.566bn went to development investment.

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