Quang Ninh reinforces economic pillars to maintain double-digit growth

24-Sep-2021 Intellasia | VNA | 5:02 AM Print This Post

To achieve a double-digit growth rate and budget revenue of 51 trillion VND (over 2.2 billion USD) this year, the northern province of Quang Ninh is working to sustain the productivity of its economic pillars.

Authorities are taking actions to address market-related difficulties and the increase in unsold inventory so as to encourage the coal industry, a major sector in Quang Ninh, to maximise the mining output, thus contributing to the gross regional domestic product (GRDP), the State budget, and social security.

The province looks to raise the clean coal output in 2021 by 2.82 million tonnes compared to the target set at the start of the year. It will work to secure 10.2 billion kWh of electricity produced in the fourth quarter and 38.5 billion kWh in the whole year.

Local authorities are tackling difficulties and creating optimal conditions for the processing and manufacturing industry, especially flour, plant oil, textile garment, electronics, and mechanical factories, to maximise capacity and output so that this sector can serve a true growth impulse.

Some projects in local industrial parks will be sped up so as to partly or wholly become operational in Q4, thereby creating new products and subsequently a new impulse for growth.

Quang Ninh is also accelerating procedures so that work on four key projects worth over 283.2 trillion VND in total will begin this October. They consist of the Ha Long urban area complex, the Quang Ninh LNG-fired power plant, Phase 1 of the Van Ninh general port, and the Dong Trieu golf course.

With total investment of more than 17 trillion VND, three key projects expected to act as driving forces for the province’s development are scheduled to be completed by December 31, namely Van Don Mong Cai Expressway, the coastal road linking Ha Long and Cam Pha cities, and Cua Luc 1 Bridge.

Infrastructure construction is being hastened at the Nam Tien Phong, Bac Tien Phong, and Dam Nha Mac industrial parks, Hai Ha Seaport, and Van Ninh Port. Relevant agencies are also making efforts to attract strategic investors to developing seaport infrastructure and logistics services at Hon Net Con Ong Port in Cam Pha city.

As Quang Ninh has managed to contain the latest COVID-19 outbreak, it is making use of every opportunity to promote the service sector, particularly retail sale, cross-border trade, and transport services.

While obstacles have been handled to facilitate to export and import via local border gates and crossings, competent agencies are stepping up online trade promotion activities,

They are also considering plans to welcome tourists, especially foreigners, back once the pandemic is put under control and implementing travel stimulus policies.

In terms of agriculture, forestry, and fisheries, authorities have been assisting businesses to boost shipments to potential markets, helping farmers to develop sea farming sustainably, improving the agro-forestry-fishery processing capacity, fostering export via official channels, and pushing ahead with building hi-tech farming zones in Dong Trieu town and Dam Ha district.

Quang Ninh recorded an estimated GRDP growth rate of 8.2 percent in the first nine months of 2021.

In particular, the processing and manufacturing industry has increased by 36.2 percent year-on-year, serving as the main driving force for the industrial sector. It has made up for the pandemic-caused downturn in services, tourism, coal, and electricity sectors.

Meanwhile, nearly 34.38 trillion VND has been collected for the State budget, equivalent to 67 percent of this year’s target.

Quang Ninh is one of the three nuclei of the northern key economic region and viewed as a strategic locality in northern Vietnam.

It looks to expand its GRDP by 10 percent on an annual average during 2020 2025, and the per capita GRDP to over 10,000 USD by 2025. The urbanisation rate is expected to surpass 75 percent, while the rate of poor households to go down to below 1 percent./.



Category: Economy, Vietnam

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