Top 10 Highest Incomes Nationwide
Ninh Binh is a province located in the southern part of the Red River Delta, about 90 km south of the capital city Hanoi, at the intersection of 3 geographical regions: Northwest, Red River, and North Central Coastal.
Recently, Deputy Prime Minister Tran Hong Ha signed Decision 218/QD-TTg on March 4, 2024, approving the Ninh Binh province’s 2021-2030 period planning, with a vision to 2050.
The goal is to exploit all potential, advantages, resources, and motivations to rapidly and sustainably develop Ninh Binh province. By 2030, the province aims to be relatively developed, outperforming other provinces in the southern part of the Red River Delta, and become a centrally-governed city with a millennial urban heritage, a city of innovation.
Ninh Binh will become one of the major centers, with a high brand value in tourism, cultural industry and heritage economy, both in the country and in the Southeast Asian region; a leading modern automotive mechanical industry center in the country; and establish a comprehensive ecosystem for startup and creative innovation.
The average GRDP growth rate (based on 2010 prices) for the period 2021 – 2030 is expected to reach 9.2%. The average GRDP per capita is about 200 million VND. The province strives to rank among the top 10 provinces and cities with the highest average per capita income in the country.
The economic structure of GRDP consists of agriculture-forestry-fisheries at 5.3%; industry-construction at 45.3%; services at 38.3%; taxes on products excluding subsidy at 11.1%.
Photo: Ninh Binh Province’s official website.
By 2035, Ninh Binh province will become a centrally-governed city with a millennial urban heritage, a city of innovation; a major center with a high brand value in tourism, cultural industry and heritage economy, both in the country and in the Asia-Pacific region.
In addition, the province will become a leading center for modern automotive mechanical industry in the country; a center for start-up and creative innovation in provinces in the southern part of the Red River Delta. The province will have a solid defense and security foundation. Building a strong, clean, and comprehensive political system and Party; developing the economy, prosperous society, and happy people.
Leading Automotive Mechanical Industry Center in the Country
According to the socio-economic report of Ninh Binh province in January 2024, the province’s industrial production has shown a high growth rate compared to the same period last year. The province’s industrial production index (IIP) is estimated to have increased by 10.87% compared to the same period last year. At constant 2010 prices, the industrial production value is estimated at 8,641.1 billion VND, an increase of 13.0% compared to January 2023…
To create momentum and breakthroughs for development, Ninh Binh focuses on developing the automotive mechanical industry, high-tech industry, and environmentally friendly industries as the driving force for growth. The province also prioritizes the development of manufacturing and assembly of automobiles, electronics industry, and new materials industry.
Ninh Binh province plans to internally restructure the processing and manufacturing industry by strongly promoting high-tech industrial sectors, products with high added value, clean technologies, and industrial production for exports. There are outstanding mechanisms and policies to promote start-ups and innovative industrial sectors, environmentally friendly ones.
The province’s concentration and prioritization are on the development of automotive mechanical industry, automobile manufacturing and assembly, electronics industry, new materials and high-tech materials industry; processing industries serving agricultural production; maintaining stable production of key industrial products linked to environmental protection; developing some consumer products industries using labor rationally.
Establishing linkage clusters in priority industries, creating a platform and foundation to connect product chains, value chains and enhance the competitive capacity of enterprises. Developing the construction industry in a modern, specialized, highly competitive, and responsive to the development needs of the local area and the whole country.
Inside Hyundai Thanh Cong No. 2 Factory (HTMC2) in Gian Khau Industrial Park, Ninh Binh. Photo: Thanh Thanh Cong.
Up to now, Ninh Binh has developed and established automobile assembly, automotive support industry, electronics industry, and more with leading companies like Hyundai, and Thanh Thanh Cong Group. The Hyundai automobile assembly complex in Ninh Binh is currently producing and assembling 34 models of cars for both commercial and tourism purposes.
The annual production value accounts for nearly 30% of the province’s total industrial production value and contributes nearly 70% to the state budget revenue in the province; creating employment opportunities for nearly 5,000 local workers with high incomes.
Additionally, Ninh Binh has attracted 93 FDI projects with a total investment of 1,578.82 million USD. Among them, major projects mainly invest in the electronic components supporting industrial sector, device manufacturing, etc. for the assembly and production of automobiles.
Some typical projects include: The automobile manufacturing and assembly project of ADM 21 Co., Ltd; Sejung Company in Cau Yen Industrial Park producing exhaust pipes, exhaust pipe components, engines, and molds for exhaust pipes; ESMO VINA car cable assembly plant in Gia Phu Industrial Park; SAMSE VINA plant in Cau Yen Industrial Park producing automated coaxial cables for automobiles; Daewon Auto Vina project in Phuc Son Industrial Park with a capacity of manufacturing 100,000 car seats per year…
Ninh Binh is also continuing to attract investment, especially FDI investors, in the automotive support industry and promoting projects in the automotive manufacturing and support industry.
