With its economy growing at a rate of 13.3 per cent in the first three quarters, Hậu Giang is poised to maintain its position as the Mekong Delta’s fastest growing province, said the General Statistics Office. Photo baohaugiang.com.vn

HẬU GIANG – Hậu Giang Province ‘s economy has grown at a rapid 13.3 per cent in gross regional domestic product (GRDP) this year, and will continue to lead the Mekong Delta in growth, the General Statistics Office has said.

Improved production and trade, trade promotion and investment have enabled the province to achieve the growth, it said.

Public investment grew at 11.83 per cent year-on-year, the industrial production index was up 11.69 per cent, and retail sales of goods and services jumped by 18.34 per cent.

Besides, Hậu Giang's investment capital for social development reached VNĐ17 trillion after a 12 per cent climb from last year’s.

The construction industry grew by 16.98 per cent to VNĐ8.5 trillion with many new projects getting under way. 

This is attributed to enterprises timely addressing challenges and limitations relating to construction in key construction in the area.

Localities and other institutions have also focused on accelerating construction progress, sanction violations, tighten oversight, and improve construction quality.

Improved production and trade, trade promotion and investment are what stands behind Hậu Giang Province's economic growth. VNA/VNS Photo Duy Khương

Industrial production in the province holds relatively stable growth, with some 45 per cent of the 260 industrial enterprises expected to grow in the last quarter while 25 per cent could see a decline in output. 

The industrial sector has experienced a resurgence owing to new projects and investment-friendly policies.

Local businesses have played a vital role in contributing to socio-economic development, facilitating economic restructuring towards industrialisation, and addressing unemployment.

The sector's current output stands at VNĐ49 trillion, an increase of 20.79 per cent from the previous year. There has been sharp growth in the production of both industrial and consumer goods, notably fish sauce (443 per cent), livestock and aquaculture feed (7.55 per cent), fruit-flavoured drinks (8.51 per cent), and electricity (200 per cent).

The province's proactive efforts in attracting investments in logistics and transportation services have set the stage for establishing it as a pivotal logistics hub, further bolstering the overall socio-economic landscape.

The total revenue from transportation services in the first three quarters was at VNĐ289 trillion, accounting for 23.39 per cent of the total revenue (VNĐ1.2 trillion) of the transportation and storage services sector. 

In agriculture, the autumn-winter rice crop has met targets in terms of planting area, productivity and output, primarily due to expert guidance and a skilled workforce.

The province has also expanded the cultivation of vegetables and fruits while enhancing value chains, incorporating advanced technology, and promoting green and sustainable agricultural practices.

Other sectors such as livestock farming, aquaculture, and forestry have witnessed steady growth along with a notable increase in output. – VNS