Quang Ninh targets double-digit GRDP growth in 2020

The northern coastal province of Quang Ninh targets double-digit growth in the gross regional domestic product (GRDP), and State budget collection of a 48 trillion VND (approximately 2 billion USD) in 2020, according to Secretary of the provincial Party Committee Nguyen Xuan Ky.
Quang Ninh targets double-digit GRDP growth in 2020 ảnh 1A corner of Van Don district (Photo: VNA)

Quang Ninh (VNA) – The northern coastalprovince of Quang Ninh targets double-digit growth inthe gross regional domestic product (GRDP), and State budget collection of a 48trillion VND (approximately 2 billion USD) in 2020, according to Secretary of the provincial Party Committee NguyenXuan Ky.

Ky said the local authorities are striving to fulfil its socio-economicdevelopment goals in the year amid difficulties caused by the COVID-19 pandemic. 

Accordingly, the locality will focuson key measures such as supporting enterprises and investors, especially thoseoperating in mining industry, processing and manufacturing, to addressdifficulties facing their production and business activities.  

Attention will be also paid to reviewing the disbursement of public investmentcapital, and adjusting capital plans of projects that fail to meet the rate ofprogress of disbursement.

The coal industry continues to affirm its role as a driver to the localeconomic growth recovery.

Regarding the tourism sector, by focusing on stimulating domestic and localmarket demand, the province has set to welcome 3 million tourists in the fourthquarter.

Although affected by the COVID-19 epidemic, the economic growth of Quang Ninhstill reached 6.5 percent in the first nine months of 2020.

The industry – construction sector grew 8.9 percent, remaining the role as animportant contributor to the local economic growth. Meanwhile, the service andagro-forestry-aquaculture sectors rose 3.5 percent and 3.2 percent, respectively.

The State budget collection of the locality in the reviewed period wasestimated at over 36.3 trillion VND, up 5.8 percent from the same period lastyear, in which, revenue from import and export activities reached an estimated 9.7trillion VND and domestic revenue was about 26.6 trillion VND.

Along with promoting administrative reform and improving the business and investmentenvironment, Quang Ninh focuses on the areas of planning, land, naturalresources and environment.

It has also paid heed to accelerating land clearance and implementing keyprojects to create momentum for economic growth.

However, the number of tourists to Quang Ninh was only 52percent of that in the same period last year.

Besides, preparations for publicinvestment projects have remained limited, while the disbursement of publicinvestment has seen changes but still slow compared to the requirement.

The number of newly-established enterprises was estimated to decrease by 15.9percent over the same period last year, and local enterprises’ production and businesshave still faced difficulties.

QuangNinh is viewed as a strategic destination in northern Vietnam and an importantlink in the northern economic growth triangle of Hanoi - Hai Phong - QuangNinh.

The province possesses major advantages from Van Don district planning tobecome a multi-sectoral maritime economic zone and entertainment centre with acasino and high-end sea-island tourism and services. It is also a gateway forinternational trade, creating unique, modern, and high-quality products thatare internationally competitive.

Over the past five years, Quang Ninh has experienced high and sustainablegrowth, with an average annual growth rate of 10.7 percent.

It topped the PCI rankings for the third year in a row in 2019, according tothe PCI 2019 report from the Vietnam Chamber of Commerce and Industry.

In addition to the PCI, Quang Ninh also led the country in the PAR Index for threeconsecutive years, in 2017, 2018, and 2019. The province has also been amongthe best performers in the SIPAS for many years and rose to the top in 2019.

It has also made great strides forward in improving governance and publicadministration capacity, moving from 62nd place in 2016 to third last year inVietnam’s PAPI./.
VNA

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