The economic sector showed many positive signs, according to the report presented at the September 2024 meeting of the People’s Committee of Nghe An province. The growth rate of the regional gross domestic product (GRDP) in the third quarter was higher than in the first and second quarters. It is estimated that the GRDP growth rate of Nghe An in the first nine months of 2024 reached about 7.5-8%, higher than the same period in 2023 and higher than the first and second quarters; the third quarter alone is estimated at about 8.5%.
The province’s agricultural sector is estimated to have increased by 4-4.2%, the industry-construction sector by 12.5-13.5%, the service sector by 5.8-6.2%, and taxes on products minus product subsidies are estimated to have increased by 6.7-7.2%.
The situation of agricultural, forestry, and fishery production was basically stable. As of September, the province had 320 out of 411 communes meeting the new rural standards; 101 communes meeting the advanced new rural standards; 16 communes meeting the model new rural standards; and nine district-level units meeting the new rural standards.
The industrial production index of Nghe An in the first nine months of 2024 is estimated to have increased by 10.64% compared to the same period in 2023; September 2024 alone is estimated to have increased by 12.4% over the same period last year. Electronic components saw a significant increase due to the stable production of electronic component manufacturing projects in the province, and some new projects have started production and are introducing products to the market.
In the first nine months of 2024, Nghe An’s total retail sales of goods increased by more than 20% compared to the same period last year. Tourist arrivals reached 8.43 million, up 15% over the same period in 2023, with an estimated revenue of VND 10,217 billion. The total export turnover of goods was estimated at USD 2,326 million, up 32.01% over the same period in 2023, reaching 84.58% of the plan. The province’s total import turnover was estimated at USD 1,690 million, up 73.51% over the same period in 2023, reaching 112.67% of the plan.
State budget revenue in Nghe An province in the first nine months of the year is estimated at VND 16,671 billion, reaching 104.8% of the estimate, or 143.2% over the same period in 2023. Sixteen out of 21 localities completed their revenue targets. For the whole of 2024, state budget revenue is expected to reach more than VND 23,000 billion.
The province’s investment attraction has achieved positive results. As of September 23, Nghe An has granted investment registration certificates to 58 new projects with a total registered capital of more than VND 18,739 billion; adjusted investment capital for 30 projects with a total additional capital of more than VND 16,802 billion. The total registered and additional capital is more than VND 35,541 billion, equivalent to 85.02% over the same period in 2023. Investment attraction, although not as strong as in 2023, has been positive, including the attraction of FDI of over USD 730 million, and striving to reach USD one billion by the end of 2024.
From the beginning of the year until now, the whole province has had 1,533 newly established enterprises, up 5.8% over the same period in 2023, with a total registered capital of VND 17,306 billion, up 29.69%; 625 enterprises resumed operation, equivalent to 84.5% over the same period in 2023.
Emphasizing the tasks for the last three months of 2024, Chairman of the Provincial People’s Committee Nguyen Duc Trung requested that sectors and localities focus on removing difficulties and obstacles for production and business activities of enterprises, support investors and industrial production projects to soon come into operation to contribute to growth. Promote and encourage consumption, support the consumption of locally produced products, trade, services, import-export activities.
Unlocking the Bottleneck in Public Investment Disbursement in Bac Ninh
“As of September 14th, the province has disbursed 2,435 billion VND, according to Mr. Vuong Quoc Tuan, Chairman of the People’s Committee of Bac Ninh Province. The low disbursement rate is attributed to a combination of subjective and objective factors, including a lack of proactive coordination between departments, localities, and the resolution of bottlenecks in project implementation. Additionally, the capacity of some contractors remains a challenge, impacting the overall progress.”
“Breaking News: Joy in Ba Ria – Vung Tau”
As per the latest information from the regular meeting of the People’s Committee of Ba Ria – Vung Tau province in August, 11 out of 13 economic and financial targets have shown growth compared to the same period last year, surpassing the plan for the full year of 2024.
“The Economy of Quang Binh Continues to Improve Positively”
In August 2024, despite ongoing challenges, the economic landscape of Quang Binh province continued on a positive trajectory. This month’s achievements contributed to an overall improved outcome for the first eight months of the year.
The Industrial Production Index in August 2024 Surges: A Robust 2.0% Month-Over-Month Increase.
Industrial production in August continued its positive growth trend, with an estimated increase of 2.0% compared to the previous month and a 9.5% rise from the same period last year. This marks a consistent upward trajectory, as the eight-month estimate for 2024 shows a solid 8.6% industrial production index growth year-on-year.
Industrial Production in Thanh Hoa Booms
In August, businesses in Thanh Hoa province continued their efforts to sustain production activities, actively overcoming challenges related to raw materials and input costs. They focused on seeking and expanding new markets, which resulted in a significant boost to industrial production in the region.
