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Quang Ninh sees 10.2% economic growth in 2017 PDF Print
Wednesday, 04 October 2017 10:19

VIETRADE – The economic growth of the northern Quang Ninh province will likely to reach 11.7% in the fourth quarter and 10.2% in the whole year of 2017, according to the provincial People’s Committee. The province’s major industries such as coal, electricity and cement are expected to flourish in the remainder of this year, the committee said.


From now to the year-end, Quang Ninh will continue to implement numerous measures with focus on collecting local budget funds, controlling budget spending, speeding up administrative reforms beside to intensifying investment, tourism and trade investment to attract more resources for local socio-economic development.


The locality will also concentrate on removing difficulties for businesses and improving infrastructures of its industrial and economic zones as well as transport infrastructure facilities to better facilitate local enterprises and foreign investors.

 

During the nine months of 2017, Quang Ninh, with an aim to help businesses overcome difficulties, has undertaken a lot of activities such as holding dialogues among the provincial leaders and business community and  issuing a wide range of preferential policies to attract investment.

 

The committee’s report showed out that, the province recorded a positive economic growth of 9.7% in the first nine months of this year. The period’s economic growth - the highest rate since 2012 – marked Quang Ninh’s presence among leading localities in the northern key economic region.

 

The province’s business investment environment and competitiveness were improved, total social investment capital increased 9.5% and State budget collection fulfilled 73% of the yearly target.

 

Its revenue from total retail trade and services also grew by 17.4% in January- September period. Of the total, revenue from tourism sector contributed to VNĐ12.1 billion (US$530,000), surging 28% year-on-year.

 

During the reviewed period, Quang Ninh’s index of industrial production increased year-on-year by 4.19%. Of which, mining industry raised by 1.72 % while processing industry raised by 2.56%, electricity production and distribution increased by 8.35%, water supplication and wastewater management and treatment went up by 9.88%.

 

Statistics from Department of Planning and Investment, meanwhile, revealed that number of newly-established enterprises in nine months experienced a strong increase of 46% compared to same period last year to 1,720 with a total registered capital of more than VND7 trillion (US$310 million). 

 

So far, the province is home to 14,400 enterprises with capital totaling VND145 trillion (US$6.37 billion), according to the data.  It has been striving to reach the target of 22,000 enterprises in operation by 2020.

 

Quang Ninh’s average economic growth rate is expected to reach 12%-13% from now to 2020, following  its master plan on socio-economic development by 2020 with a vision towards 2030.


The province’s GDP per capita will achieve between US$8,000 and US$8,500 in 2020 and about 20,000 USD by 2030. In its GDP structure, services will account for up to 52% by 2020 while the added value of processing and manufacturing industries will increase by 14% a year on average until 2020.

 

By 2020, Quang Ninh will strive to become a modern industrial and service province and an international tourist center with about 10.5 million arrivals. It will be one of the top economic driving forces in the north and the whole country as well./.

 
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