Economic Growth Surges in Provincial Town, Soaring to 23.8% with Over $1.2 Billion in Registered Investment

According to the official portal of Quảng Yên, on November 22nd, the local administration convened a periodic meeting for the month, led by Mr. Trần Đức Thắng, Chairman of the Municipal People’s Committee.

During the gathering, delegates engaged in diligent discussions, offering insightful opinions on the draft report assessing the socio-economic, defense, and security situation in 2024. They also outlined targets and tasks for 2025 and evaluated the execution of assignments for November, strategizing for December of this year.

As per the draft report, Quảng Yên has witnessed comprehensive development across all sectors this year. Many indicators have already been accomplished, and some have even surpassed the set plans.

Specifically, the local economy experienced a remarkable growth rate of 23.8% compared to the same period last year. The industry-construction sector surged by 24.1%, while the service sector witnessed a substantial increase of 32.6%.

In terms of budget collection, Quảng Yên accomplished the provincial assigned estimate 40 days ahead of schedule. The budget revenue reached VND 1,272 billion, equivalent to 100% of the municipal assigned estimate and reflecting a 35% increase compared to the previous year. This outstanding outcome resulted from vigorous direction and management from the beginning of the year. Despite encountering challenges, the diligent implementation of the provincial People’s Committee’s seven plans on budget collection management played a pivotal role.

This year, the industrial parks in Quảng Yên successfully attracted 22 FDI projects, encompassing an area of over 137 hectares and approximately $1,239 million in registered investment capital.

Concluding the meeting, Mr. Trần Đức Thắng, Chairman of the Municipal People’s Committee, acknowledged and highly appreciated the efforts of agencies, units, and localities in carrying out the tasks for November and the entire year of 2024.

Notably, the Chairman commended the dedication in implementing solutions to swiftly stabilize lives and restore production and business activities after the severe damage inflicted by Storm No. 3.

While recognizing the achievements, Mr. Thắng also pointed out that the overall socio-economic development of Quảng Yên has not yet met expectations. The aftermath of Storm No. 3 impacted most sectors, leading to a decline in economic growth compared to the set targets.

However, with a spirit of self-reliance and resilience, Quảng Yên has focused on its economic strengths, concretizing directives, and efficiently implementing recovery solutions tailored to the municipality’s practical context.

Nevertheless, there are still loopholes and shortcomings in state management, particularly in land, construction, and planning control.

Moving forward, Mr. Thắng instructed the agencies, units, and localities to review the indicators and tasks for 2024, striving to comprehensively accomplish the set goals and plans.

Additionally, Quảng Yên will concentrate on directing and ensuring the disbursement of public investment capital at the commune and ward levels, aiming for a 100% disbursement rate as per the directives.

Regarding the draft report on the 2024 summary and the entire term, the Chairman requested specialized agencies to coordinate with the Municipal Statistics Office to scrutinize, evaluate, and analyze the data, along with indicators related to the mission of developing into a city. This collaborative effort aims to ensure objectivity and reflect the achievements of the agencies and units that have diligently strived to fulfill their annual objectives.

According to the Quảng Ninh Province Planning for the 2021-2030 period, with a vision towards 2050, Quảng Yên is oriented to become a provincial city.

Recently, on October 21, 2024, the Quảng Ninh People’s Committee issued Decision No. 3033/QD-UBND, authorizing the Quảng Yên People’s Committee to develop a proposal for the establishment of Hiệp Hòa and Tiền An wards, propelling the municipality towards becoming a provincial city.