Ninh Binh well prepares conditions to attract more investment

Numerous solutions put forth

The Ninh Binh provincial People's Committee has recently issued a decision on the investment promotion programme in 2023.

Specifically, the province will focus on attract projects using hi-tech, modern, clean and friendly environmental technologies that produce products with high added values, contribute greatly to the budget, use less workforce and utilise land effectively.

Besides, the province will accelerate the progress of devising, approving and implementing planning projects in a bid to create more cleared land lots serving investment attraction.

It will improve investment attraction activities and call for investment in big projects, especially in the fields of automobile assembly, automobile supporting industry, electronics and tourism. 

The province will continue stepping up administrative reform and  improving the investment climate. It will prepare all necessary conditions, especially those related to infrastructure, land lots and workforces in a bid to lure investors and welcome FDI capital waves.

Thanks for applying these policies, the province has maintained its growth trend. The province's economy has been expanded, reaching nearly 82 trillion VND (almost 3.47 billion USD) in 2022. It has attracted 942 projects with total investment of over 172 trillion VND.

Currently, the province has 93 FDI projects with total investment capital of over 1.5 billion USD. Some new big projects have been completed and put into operation.

Important outcomes recorded in first six months of 2023

According to the provincial Statistics Office, Ninh Binh's gross regional domestic product (GRDP) was estimated at 25 trillion VND in the first half of 2023, up 7.56% year on year. The province ranked 6th in the Red River Delta and 12th out of the country's 63 provinces and centrally-run cities in terms of economic growth.

The service sector witnessed the highest growth, with a rate of 15.72%. The trade and service sector has been recovering and developing strongly, particularly in the fields of tourism, and accommodation and catering services.

During the January-June period, Ninh Binh received over 4.53 million visitors, a 2.5-fold rise against the same period last year. Of the total, 224,000 were foreign visitors. Total revenue from tourism was estimated to reach 3.85 trillion VND (165 million USD) in the first half of 2023, a 2.9-fold rise over the same period last year.

Total retail sales reached 31.4 trillion VND, a year-on-year rise of 42%.

The agriculture sector has enjoyed favourable weather conditions for crop cultivation and livestock breeding.

However, due to negative impacts from the global economy's recession, high interest rates, high prices of materials, narrowed consumption markets and order shortages, local enterprises have met numerous difficulties in their production and business activities.

Some products saw declined output such as canned pineapple, clothes, camera modules. The index of industrial production saw a year-on-year increase of only 2.19%.

The province's total export value hit 1.53 billion USD, down 3.3%, while its import value fell by 18.4% to 1.39 billion USD.

In the first six months of 2023, the province has generated jobs for nearly 10,000 labourers, and provided vocational training for over 9,000 labourers.

Translated by Nguyen Thuy