According to a report from the Nghe An Provincial Statistics Office, state budget revenue for the past seven months in this province is estimated at over VND 13,455 billion, an increase of more than 38% compared to the same period in 2023. Domestic revenue reached over VND 12,493 billion, an increase of more than 37% compared to the same period last year. Revenue from import and export activities reached nearly VND 947 billion, an increase of over 50% compared to the same period.
Although industrial production in the province faced many difficulties and challenges due to the complex and unstable global economic situation, inflationary pressures, exchange rates, and interest rates, as well as scarce and expensive raw materials, industrial production in the province managed to maintain a fairly high growth rate.
Specifically, the province’s industrial production index for July 2024 is estimated to have increased by more than 11% compared to the same period. Electricity, gas, hot water, and air conditioning production and distribution increased by more than 34%, while processing and manufacturing industries increased by over 9%.
Overall, for the first seven months of this year, the province’s industrial production index increased by more than 10% compared to the same period last year. This increase is attributed to the efforts of businesses to resume production, with some factories signing new contracts at the beginning of the year, increasing exports, and finding stable markets for their products. Some products that saw an increase in production include microchips, which are estimated to have reached over 28 million units, an increase of 5.5 times compared to the same period, and electric wire harnesses, with orders worth over VND 4,600 billion, a twofold increase. Fresh concrete production also increased by over 74%.
On the other hand, some factories in the province experienced low or negative growth due to difficulties in domestic and international consumption markets, reduced export orders, high inventory levels, and increased production costs. Products that saw a decrease in production include docking stations, with an estimated output of 8.9 million units, a decrease of over 47%, BSE speakers, with an output of over 25 million units, a decrease of over 36%, and fish sauce, which decreased by over 19%.
The trade and service sector in Nghe An province continued its growth trajectory in the first seven months of 2024. Specifically, the total retail sales of goods and consumer services in July were estimated at over VND 12,226 billion, an increase of nearly 16% compared to the same period last year. For the first seven months, the province’s total retail sales of goods and consumer services reached over VND 88,287 billion, an increase of over 33% compared to the same period.
Revenue from accommodation and catering services in the first seven months of 2024 is estimated at nearly VND 11,288 billion, an increase of nearly 49% compared to the same period last year. Tourism service revenue reached over VND 251 billion, an increase of over 36%, while revenue from other services reached over VND 12,582 billion, an increase of nearly 93%.
Passenger transport revenue for the first seven months reached over VND 2,149 billion, an increase of nearly 17% compared to the same period. Freight transport revenue is estimated at over VND 930 billion, an increase of 12% compared to the same period last year.
In terms of business development, from July 1 to July 22, Nghe An province had 120 newly established enterprises, a decrease of over 6% compared to the same period in 2023. The total registered capital of these enterprises was nearly VND 510 billion, a decrease of 74%. During this period, 36 businesses resumed operations, a decrease of over 30%. Meanwhile, the number of businesses registering to cease operations was 80, an increase of nearly 4%, and the number of businesses that were dissolved was 19, an increase of nearly 12%.
For the first seven months of 2024, Nghe An province had 1,205 newly established enterprises, an increase of nearly 2% compared to the same period last year, with a total registered capital of over VND 15,400 billion, an increase of over 70%. During this period, 538 businesses resumed operations, a decrease of over 16%. The number of businesses registering to cease operations was 1,188, an increase of nearly 13%, while the number of dissolved businesses was 164, an increase of over 13%. The number of businesses that announced their dissolution was 321, an increase of nearly 89%.
In terms of investment, in the first seven months of this year, Nghe An province granted investment registration certificates to 48 projects, with a total registered investment capital of over VND 16,804 billion, lower than the same period last year. The province also adjusted 90 projects, including 24 projects with adjusted investment capital, resulting in an increase of nearly VND 7,000 billion. The total registered capital for new and adjusted projects was over VND 23,759 billion.
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