A view of Hai Duong (Photo: Ỉnternet) Hai Duong (VNA) – With remarkable socio-economic achievements, Hai Duongprovince has become an economic spotlight in the Red River Delta and northernkey economic region.
In the first half of this year, the provincial economy grew about 7.2 percent.The industry and construction sector expanded 10.1 percent, contributing 5.8percentage points to the locality’s gross regional domestic product (GRDP).
The service sector increased 6.5 percent, contributing 2 percentage points tothe GRDP.
Turnovers from transportation and warehouse services went up 7.1 percent;retail, up 6.6 percent; and consumption services, up 7.8 percent, respectively.
However, agro-forestry-fishery decreased 4.9 percent and crop cultivation wasdown 4.3 percent.
Besides, foreign investment attraction in Hai Duong province saw an increase.
Statistics from the Ministry of Planning and Investment’s Foreign InvestmentAgency show that the province lured 450 million USD in foreign directinvestment (FDI) in the first half of this year, ranking 10th among the 46localities that received FDI in the period.
Of the total,326 million USD came from 38 newly licensed projects while the remainder wasadded to 14 projects already in operation.
As of June this year, Hai Duong was home to 438 foreign-invested projects withcapital totalling more than 8.15 billion USD, retaining its position as one ofthe top ten localities in the country in terms of attracting foreign capital.
In early August,the provincial People’s Committee granted in-principle approval for seven newprojects valued at more than 267 billion VND (11.6 million USD) in total.
Among theseprojects are a 97 billion VND convention centre and office project, to befinanced by the Phu Thai trade and investment company; a 50 billion VND projectproducing electronics components to be funded by the HTV investment anddevelopment company; and a petroleum trading project, to be developed by the AnhKhoi trade and service company at a cost of 36 billion VND.
Nguyen Van Dinh, General Secretary of the Vietnam National Real EstateAssociation, said investors are turning their eyes to markets with high growthrates like Hai Duong.
It is noteworthythat Prime Minister Nguyen Xuan Phuc issued a decision last May, recognisingHai Duong city as the first-tier city, which has also contributed to spurringthe development of the local property market.
Theseabove-mentioned factors have created a firm foundation for the development ofthe local real estate market, making it more attractive in the eyes ofinvestors.
Given theshortage of luxurious property projects in Hai Duong, investors have pouredcapital into the segment.
The mostoutstanding project is Apec Mandala Wyndham Hai Duong of Apec Group that hasinvested in a series of luxurious projects in Mui Ne, Bac Ninh, Phu Yen, Hueand Lang Son.
Apec MandalaWyndham Hai Duong is a complex of condotels, officetels and a five-starcommercial centre, meeting demands for shopping, cuisines, entertainment andleisure of locals and holiday-makers.
Managed andoperated by Wyndham Hotel Group – the world’s largest hotel company - theproject has been seen as an attractive investment opportunity in Hai Duong in2019.
Other projectswith schools, bars, clubs, commercial centres and shop-houses, and guaranteedsecurity and safety will promises high-quality living standards for residents.
In order to lure more investment capital, the province should continue workingon administrative reforms, especially in the fields of taxes, fees, land andsocial insurance, as well as reducing the burden on enterprises duringinspections, experts said.
They alsohighlighted the need to improve business consultations and promote the role ofprovincial business associations to consolidate the trust of the businesscommunity, adding provincial leaders and localities need to hold more dialogueswith business communities to solve pressing problems quickly./.
In the first half of this year, the provincial economy grew about 7.2 percent.The industry and construction sector expanded 10.1 percent, contributing 5.8percentage points to the locality’s gross regional domestic product (GRDP).
The service sector increased 6.5 percent, contributing 2 percentage points tothe GRDP.
Turnovers from transportation and warehouse services went up 7.1 percent;retail, up 6.6 percent; and consumption services, up 7.8 percent, respectively.
However, agro-forestry-fishery decreased 4.9 percent and crop cultivation wasdown 4.3 percent.
Besides, foreign investment attraction in Hai Duong province saw an increase.
Statistics from the Ministry of Planning and Investment’s Foreign InvestmentAgency show that the province lured 450 million USD in foreign directinvestment (FDI) in the first half of this year, ranking 10th among the 46localities that received FDI in the period.
Of the total,326 million USD came from 38 newly licensed projects while the remainder wasadded to 14 projects already in operation.
As of June this year, Hai Duong was home to 438 foreign-invested projects withcapital totalling more than 8.15 billion USD, retaining its position as one ofthe top ten localities in the country in terms of attracting foreign capital.
In early August,the provincial People’s Committee granted in-principle approval for seven newprojects valued at more than 267 billion VND (11.6 million USD) in total.
Among theseprojects are a 97 billion VND convention centre and office project, to befinanced by the Phu Thai trade and investment company; a 50 billion VND projectproducing electronics components to be funded by the HTV investment anddevelopment company; and a petroleum trading project, to be developed by the AnhKhoi trade and service company at a cost of 36 billion VND.
Nguyen Van Dinh, General Secretary of the Vietnam National Real EstateAssociation, said investors are turning their eyes to markets with high growthrates like Hai Duong.
It is noteworthythat Prime Minister Nguyen Xuan Phuc issued a decision last May, recognisingHai Duong city as the first-tier city, which has also contributed to spurringthe development of the local property market.
Theseabove-mentioned factors have created a firm foundation for the development ofthe local real estate market, making it more attractive in the eyes ofinvestors.
Given theshortage of luxurious property projects in Hai Duong, investors have pouredcapital into the segment.
The mostoutstanding project is Apec Mandala Wyndham Hai Duong of Apec Group that hasinvested in a series of luxurious projects in Mui Ne, Bac Ninh, Phu Yen, Hueand Lang Son.
Apec MandalaWyndham Hai Duong is a complex of condotels, officetels and a five-starcommercial centre, meeting demands for shopping, cuisines, entertainment andleisure of locals and holiday-makers.
Managed andoperated by Wyndham Hotel Group – the world’s largest hotel company - theproject has been seen as an attractive investment opportunity in Hai Duong in2019.
Other projectswith schools, bars, clubs, commercial centres and shop-houses, and guaranteedsecurity and safety will promises high-quality living standards for residents.
In order to lure more investment capital, the province should continue workingon administrative reforms, especially in the fields of taxes, fees, land andsocial insurance, as well as reducing the burden on enterprises duringinspections, experts said.
They alsohighlighted the need to improve business consultations and promote the role ofprovincial business associations to consolidate the trust of the businesscommunity, adding provincial leaders and localities need to hold more dialogueswith business communities to solve pressing problems quickly./.
VNA
