Hai Phong asked to turn private sector into momentum of development

The northern port city of Hai Phong should make greater efforts to turn the private sector an important motivation of its economic development, said Prime Minister Nguyen Xuan Phuc.
Hai Phong asked to turn private sector into momentum of development ảnh 1PM Nguyen Xuan Phuc (third, left) presents a gift to Hai Phong (Source: VNA)
HaiPhong (VNA) – The northern port city of Hai Phong should make greaterefforts to turn the private sector an important motivation of its economicdevelopment, said Prime Minister Nguyen Xuan Phuc.

Ata working session with the municipal Party Committee’s Standing Board on June26, PM Phuc said that, despite its strong performance in the first half of2017, Hai Phong has yet to meet requirements as the major industrial hub of thecountry and the driving force for socio-economic development of the northerncoastal region.

Thegovernment leader asked Hai Phong to mull over development orientations todeserve its position as the third largest city of the country and developitself into a green, modern port city, and a big centre of services and industrieswith high competitiveness edge.

Tocontribute to the country’s economic growth of 6.7 percent this year, Hai Phongmust strive to achieve a 14 percent GDP growth rate in 2017, he said.

ThePM suggested that Hai Phong coordinate with domestic and foreign agencies incompleting its development planning to make it a leading seaport centre of thecountry and the region.

Atthe same time, Hai Phong should continue improving its investment environment, enhancingits competitiveness through speeding up administrative reform, and complete itsinfrastructure system for tourism, turning tourism an important economic sectorof the city, he said.

Statisticsreleased at the working session showed that in the first half of 2017, Hai Phongsaw the highest gross regional domestic product (GRDP) growth in the past 10years.

Thetotal volume of goods handed by Hai Phong port reached 43 million tonnes, upalmost 13.8 percent, while total social investment was 23.9 trillion VND, anincrease of 22.56 percent. The city’s budget collection topped 35 trillion VND,a rise of 10.7 percent.

HaiPhong remained one of the top 10 most attractive investment destinations with24 foreign-invested projects licenced in the first six months of this year,while 20 existing projects permitted to increase their investment, with acombined capital of 617 million USD.

Thecity also disbursed over 3.7 trillion VND as public investment, equivalent to40.8 percent of the annual plan. The number of newly-established firms in thefirst six months of 2017 was 1,598, 23.7 percent higher than the same periodlast year, with a combined capital of over 7.4 trillion VND.-VNA
VNA

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