Public investment disbursement acceleration promotes socio-economic development
Vietnam is speeding up public investment disbursement to push growth, after going through difficult times due to the severe economic impact of Typhoon Yagi.
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Vietnam is speeding up public investment disbursement to push growth, after going through difficult times due to the severe economic impact of Typhoon Yagi.
The Executive Board of the International Monetary Fund (IMF) concluded the 2024 Article IV Consultation with Vietnam.
The Ministry of Planning and Investment recently presented to the Government three economic growth trajectories for 2025, with the highest rate forecast at 7.5%.
Prime Minister Pham Minh Chinh has ordered prompt actions be taken to effectively settle the aftermath of Typhoon Yagi, stabilise people's life, and restore production and business activities to reach the unchanged economic growth target of 7%.
Prime Minister Pham Minh Chinh on September 7 asked ministries, agencies and localities to implement priority tasks and solutions in order to spur growth this year and 2025, making up for the sluggishness in the previous years due to COVID-19 impacts.
Trang An Landscape Complex in Ninh Binh, which is dubbed as an "outdoor geological museum", boasts a rich and unique flora and fauna ecosystem. Preserving and promoting biodiversity in combination with tourism development are urgent tasks for the province in the context of climate change and rapid tourism growth.
Over the past few years, the northern province of Ninh Binh has enjoyed fast growth and become an attractive destination in the northern key economic region.
Many economic sectors in Ninh Binh province maintained stable growth in July such as industrial production and tourism.
Despite numerous difficulties and challenges from complicated and unpredictable global developments over the first seven months of this year, Vietnam's economy continued to record positive outcomes thanks to the effective implementation of the Government's resolutions to promote growth.
To facilitate the supporting industry's growth and implementing the provincial Master Plan in the 2021-2030 period, with a vision to 2050, the northern province of Ninh Binh has paid heed to developing industrial parks and clusters, building and implementing programmes on technical infrastructure investment in the supporting industry to promote internal strengths and ensure sustainable development.
In the first six months of 2024, state budget collection in Ninh Binh province saw positive signs with 12 out of 15 receipts and taxes achieving high growth compared to the same period of the previous year.
The northern province of Ninh Binh has exerted efforts to achieve a Gross Regional Domestic Product (GRDP) growth rate of 8% in 2024.
The northern province of Ninh Binh has built and developed OCOP products through incorporating cultural values in each product, thereby adding more resources for rural economic growth.
The northern province of Ninh Binh making efforts to become a developed province by 2030 and a growth pole of among provinces and cities in the South of the Red River Delta, and basically meet standards of a centrally -run city.
There are factors that strongly drive the growth of Vietnam's foreign direct investment (FDI) attraction in the second half of this year and there will be interesting surprises waiting ahead, said Chairman of the Vietnam's Association of Foreign Invested Enterprises (VAFIE) Prof. Dr. Nguyen Mai.
Thanks to the improved quality of tourism services, new tourism products and tour routes, Ninh Binh province's tourism has met the increasing demand of visitors. Therefore, more and more travellers have visited local destinations, making great contributions to revenues of the accommodation, restaurant and travel sectors.
Vietnam's economy grew by 6.42% in the first six months of 2024, slightly lower than the figure of 6.58% in the same time of 2022 within the 2020-2024 period, the General Statistics Office (GSO) announced at a press conference in Hanoi on June 29.
Vietnam aims to turn tourism into a truly spearhead economic sector with green growth and world leading development capacity by 2030.
Prime Minister Pham Minh Chinh on June 8 called for greater efforts to keep the 2024 growth rate at the upper limit of the 6-6.5% target, and inflation at the lower of the 4-4,5% target, given the context that there are more challenges than opportunities.
Though facing numerous difficulties in the January-May period, key economic sectors of the northern province of Ninh Binh have still maintained stable growth. In particular, the tourism sector recorded great successes.
Prime Minister Pham Minh Chinh on June 1 demanded efforts be invested in renewing traditional growth drivers and strongly promoting new ones.
The outstanding socio-economic development outcomes in the first four months of 2024 has laid an important foundation for Ninh Binh province to reach its set target for the whole year.
Ninh Binh is among a few provinces and centrally run-cities nationwide enjoyed positive industrial production growth in 2023. The outcome was attributed to the industry and trade sector's synchronic measures to remove difficulties for local bussinesses, thereby helping to spur industrial production growth and maintain its growth momentum. This year, the province is striving to reach industrial production growth target of 8.7%.
Vietnam's economy in Q1/2024 shows strong recovery and positive results across various sectors, setting the stage for successful the achievement of the 2024 socio-economic development plan.
Industrial production of enterprises in Ninh Binh province in the first quarter of 2024 has recovered and recorded slight growth compared to the same period last year, according to the provincial Statistics Office. However, some industries such as cement and automobile assembly have still seen much difficulties.