Quang Ninh(VNS/VNA) – The northeastern province of Quang Ninh's economyhas seen double-digit growth for eight consecutive years, andthat momentum will continue this year thanks to appropriatepolicies and synchronous measures. 

According to the provincialParty Committee, its gross regional domestic product (GRDP) is expected toreach 11.02% in 2023, 0.74 percentage points higher than the previousyear.

The province's economicscale is estimated at over 312 trillion VND (13 billion USD).

Total state budgetrevenue hit an estimated 55.6 trillion VND by the year-end, up 3% year-on-year.Of which, domestic revenue is estimated at 39.6 trillion VND,surging 7% over the previous year while revenue from import andexport activities will likely top 16 trillion VND. 

At the sametime, administrative reform and improvement of the business investmentenvironment continue to be promoted by the province. Quang Ninh is knownas a locality with an open and favourable investment environment,wholeheartedly dedicated to businesses and investors.

The province has to dateattracted 5 billion USD worth of investment, including 3.1 billion USD inforeign direct investment (FDI), temporarily securing its position as theleading province nationwide in attracting FDI this year.

It hasalso kept its position among the best performers nationwide in termsof the Provincial Competitiveness Index (PCI), Public Administration Reform(PAR) Index, Satisfaction Index of Public Administration Services (SIPAS), andProvincial Governance and Public Administration Performance Index (PAPI).

Secretary of the provincialParty Committee Nguyen Xuan Ky said improving the quality of development andgrowth goes hand in hand with maintaining a two-digit Gross Regional DomesticProduct (GRDP) growth rate, focusing on increasing the processing andmanufacturing industry's scale and contribution to GRDP and budget revenue andimproving the efficiency of attracting new generation FDI flows.

Ensuring double-digit growth by 2025

Quang Ninh aims to sustain a double-digit growth ratein the next three years, under a resolution on orientations and tasksby 2025 issued by the provincial Party Committee. 

The locality also strives to become a modern service andindustrial province, an international tourism hub, a maritime economic centre,a centre of dynamic and comprehensive development in the northern region, andan important transport gateway of Vietnam by 2025.

To obtain the targets, Quang Ninh will promote theimplementation of breakthrough steps to press on with comprehensive reforms tosecure sustainable development, green and inclusive growth, and economicdevelopment, Secretary of the provincial Party Committee Nguyen Xuan Ky said. 

It will also continue using public investments to attract privateones, especially through public - private partnership (PPP), improvethe attraction of foreign investment to industrial parks and economic zones,prioritise investments in high-tech and environmentally friendly projects, andstrongly facilitate private and startup companies.

Authorities will further step up administrative reforms, improvethe investment and business climate, remove barriers, and create favourableconditions for enterprises to grow, he said. 

The provincial budget will be focused on ensuring social security,building influential structures, supporting production development, narrowingthe development gap among local areas, and fully tapping into potential andadvantages to comprehensively develop the local economy, the official added.

In 2022, Quang Ninh posted GRDP growth of 10.3%, rankingfourth in the Red River Delta. It collected 54.7 trillion VND for thestate budget, up 4% from 2021./.