Quảng Ninh growth hits 10 per cent

June, 26/2018 - 09:00

This year, Quảng Ninh has set an economic growth target of over 10.6 per cent.

A corner of Hạ Long City in Quảng Ninh Province.—Photo vietnamnet.vn
Viet Nam News

HÀ NỘI — The northeastern province of Quảng Ninh’s economic growth hit an estimated 10.16 per cent in the first half of 2018, according to the provincial Department of Planning and Investment.

This accelerated growth helped Quảng Ninh join the leading group of provinces and cities in the key northern economic region and major hubs nationwide, the department said.

This year, Quảng Ninh has set an economic growth target of over 10.6 per cent. To achieve this goal, the province plans to take concrete measures to boost economic growth, and continue to help enterprises tackle difficulties, support start-up businesses and facilitate production.

The province has maintained relatively high economic growth over the past few years. In 2017, its Gross Regional Domestic Product (GRDP) exceeded VNĐ12.5 trillion (US$553 million), a year-on-year increase of 10.2 per cent. GRDP per capita reached $4,500 per year, up 11 per cent on year.

The economic structure has gradually shifted towards services which rose by 14.5 per cent, the highest rate among local industries.

The province also saw a year-on-year expansion of 10.1 per cent in total investment to VNĐ60.6 trillion, much of which went on upgrading the transport system and promoting the development of Quảng Ninh.

These include the Vân Đồn Airport project, with a total investment capital of nearly VNĐ7.5 trillion, which will support the development of the Vân Đồn special administrative and economic zone.

Other projects like the Hạ Long–Hải Phòng Highway and the Hạ Long–Vân Đồn Highway will create transport links in the region to attract more investment and contribute to local socio-economic development and the northern economic region.— VNS