The province of Ninh Binh witnessed a bustling month in October with a plethora of events that attracted a large number of tourists. Some of these events included the Ninh Binh Culinary and Tourism Festival and the Trang An – Cuc Phuong Hot Air Balloon Festival.
It is estimated that the number of visitors to the province’s tourist attractions in October surpassed 386,000, marking an increase of 11.9% compared to the same period last year. This comprised of over 312,000 domestic tourists, a 5.1% increase, and more than 74,000 international tourists, reflecting a significant 54.1% surge.
For the year so far, Ninh Binh has welcomed close to 7.7 million visitors to its tourist attractions as of October, indicating a 30.9% rise compared to the same period in 2023. The breakdown includes over 6.7 million domestic tourists, a 21.3% increase, and nearly 1 million international tourists, more than doubling last year’s figure. The province’s tourism revenue for the first ten months of the year is estimated at nearly VND 7,773 billion, a 40.3% jump from the previous year. This includes accommodation revenue exceeding VND 681 billion, a 24.7% increase, and food and beverage revenue of over VND 3,877 billion, reflecting a 38% rise.
Ninh Binh’s tourism sector has set ambitious goals for 2024, aiming to attract 7.5 million visitors, including 6.6 million domestic and 900,000 international tourists. The revenue target is set at VND 8,250 billion. With the number of visitors already surpassing the annual target, the province needs to generate more than VND 470 billion in the remaining two months to achieve its revenue goal.
The industrial production sector in Ninh Binh continued its positive recovery in October. For the first ten months of 2024, the province’s industrial production recorded a significant increase compared to the same period last year.
Specifically, the province’s Industrial Production Index (IPI) for October is estimated to have increased by 8.19% year-on-year. For the January-October period of 2024, Ninh Binh’s IPI rose by 11.22% compared to the same period in 2023. This growth was driven by increases in mining (14.51%), manufacturing (10.86%), electricity production and distribution (22.56%), and water supply, waste management, and treatment activities (4.34%).
Some of the key industrial products that contributed to Ninh Binh’s growth in the first ten months include various types of stones (3.4 million cubic meters, up 13.8%), footwear (55.5 million pairs, up 17.4%), urea fertilizer (0.4 million tons, up 23.9%), and NPK fertilizer (97,600 tons, up 36.7%).
However, there were also some products that experienced declines during this period, such as canned pineapple (7,900 tons, down 3.9%), animal feed (21,700 tons, down 12.9%), embroidered goods (0.7 million cubic meters, down 56.3%), and garments (46.2 million pieces, down 6.9%).
In terms of investment, Ninh Binh attracted an estimated VND 3,144 billion in total investment capital in October 2024, reflecting a 13.3% increase compared to the same month last year. For the first ten months of the year, the province’s total investment capital reached over VND 27,182 billion, a 3.5% increase compared to the corresponding period in 2023.
Turning to the trade and services sector, Ninh Binh’s total retail sales in October were estimated at nearly VND 7,210 billion, a substantial 27.8% increase compared to October 2023. For the January-October period, the province’s total retail sales exceeded VND 66,333 billion, marking a 26.1% year-on-year increase.
All 12 commodity groups witnessed growth in retail sales, with some achieving notable increases. These include foodstuff and foodstuffs (estimated at VND 24,674.6 billion, up 27.7%), garments (VND 3,322.5 billion, up 31.4%), cultural and educational goods (VND 419.9 billion, up 51%), and construction materials (VND 14,945.6 billion, up 27.9%).
The province’s accommodation and catering services generated nearly VND 806.8 billion in revenue in October, a 21% increase year-on-year. However, travel services revenue declined by 52.2% to an estimated VND 3.2 billion. Other services contributed an estimated VND 520 billion in revenue, a 6.1% increase.
For the first ten months of the year, the accommodation and catering services sector brought in over VND 7,800 billion in revenue, a 28.1% increase compared to the same period last year. Travel services revenue more than doubled, reaching over VND 84.5 billion, a 56.7% increase. Other services generated over VND 5,088 billion in revenue, an 11.9% rise.
In October, Ninh Binh’s total export turnover was estimated at over USD 270.5 million, a 6.7% increase compared to October 2023.
For the January-October period of 2024, the province’s total export turnover reached over USD 2.8 billion, an 8.5% increase year-on-year. Some of the key export products include footwear (estimated at USD 810.1 million), cameras and accessories (USD 583.5 million), cement and clinker (USD 483.9 million), and garments (USD 273.8 million).
Some export products that witnessed significant growth during this period include embroidered and lace products (254,300 pieces, up 71%), footwear (55.7 million pairs, up 16.5%), optical glasses (2.1 million pieces, up 16%), and electronic components (USD 134.5 million, up 36.4%).
However, there were also some export products that experienced declines, such as canned pineapple and cucumber (7,100 tons, down 16.6%), concentrated pineapple juice (1,600 tons, down 15.6%), and cement and clinker (12.1 million tons, down 14.8%).
In October, Ninh Binh’s total import turnover was estimated at USD 290 million, a 15.8% increase compared to the same month last year.
For the first ten months of 2024, the province’s total import turnover reached nearly USD 2.6 billion, a 15.2% increase year-on-year. The main import commodities included automobile parts and accessories (USD 796.6 million), electronic components (USD 705.5 million), auxiliary materials for shoe production (USD 527.4 million), textiles for garment production (USD 123.1 million), and automobiles (USD 74.4 million).
The Billion-Dollar Behemoth: Racing Towards the Finish Line
The LEGO toy manufacturing plant in Binh Duong boasts a substantial investment of 1 billion USD and is expected to employ over 3,000 people. What truly sets this venture apart is the impressive 44.79 hectares of land allocated for its operations. This vast expanse of land enables the company to envision and execute expansive plans for future growth and development, ensuring their production capabilities can expand and adapt to meet the demands of their thriving business.
The Heavy Rains Dampen Quang Binh’s Tourism and Service Industry
As we move into October, the shift in weather brings an abundance of rain, significantly impacting the tourism industry in Quang Binh. The demand for sightseeing and travel tours has diminished, leading to a notable decline in revenue for not only tourism but also a range of other service industries compared to previous months.
“UAE Eyes Vietnam as Strategic Hub for Oil Stockpiling and Transit”
On the official visit to the United Arab Emirates (UAE), in the morning of October 29, local time, at the capital Abu Dhabi, Prime Minister Pham Minh Chinh met with Mr. Sultan Bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and CEO of the Abu Dhabi National Oil Company (ADNOC), along with his colleagues.
Unleashing the Potential: Unveiling the $824 Million ‘Super Port’ Project in Tran De
The People’s Committee of Soc Trang Province has requested that the Government consider providing funding support for the Tran De Port development. In the initial stage, the project is estimated to require over VND 19,000 billion in funding from the national budget.
The Tech Hub of Danang: A $410 Million Investment in the Future
The Danang People’s Committee has approved a proposal to adjust the pre-feasibility study report for the Phase 1 development of the Software Park No. 2. This decision involves an additional investment of over VND 400 billion to ensure comprehensive infrastructure synchronization for the project.
