Hung Yen (VNA) – The northern province of Hung Yen continued to record relatively positive socio-economic performance during the first half of 2024, local authorities said.
The gross regional domestic product (GRDP) increased by 6.81% in H1, compared to this year’s target of 7.5 - 8%. That gave Hung Yen the 24th position among the 63 provinces and centrally-run cities nationwide, and the 8th place among the 11 localities in the Red River Delta.
In particular, the index of industrial production rose 11.13% during the first six month, compared to the 2024 target of 8%.
The production value of industry - construction went up 9.64%, trade - services 3.54%, and agriculture - fisheries 2.7%. In the local economy, industry - construction currently make up 64.13%, trade - services 28.05%, and agriculture - fisheries 7.82%.
Notably, total state budget revenue surpassed 21.4 trillion VND (over 842 million USD) during January - June, rising 39.83% from a year earlier and equivalent to 65.34% of the target for 2024, statistics show.
The local investment environment has improved considerably with many incentives issued, helping Hung Yen attract an inflow of domestic and foreign investment and create an impulse for economic growth.
As of June 20, the province had a total of 578 foreign investment projects worth over 7.5 billion USD. They include 32 new projects with combined capital of 544.29 million USD registered during H1.
Japan is the biggest foreign investor in the province at present, with 176 projects worth 3.8 billion USD, or 50.98% of the total registered FFDI,DI capital. It is followed by the Republic of Korea with 154 projects worth more than 900 million USD, 11.88%; and China with 151 projects worth 1.1 billion USD, 15.52%.
During the reviewed period, Hung Yen stepped up site clearance and construction of industrial zone infrastructure. It completed site clearance for 247ha of industrial parks and clusters while building infrastructure on about 387ha. Besides, a new industrial park infrastructure project worth over 3.09 trillion VND was granted in-principle approval from the Prime Minister and an investment registration certificate.
Meanwhile, work started on many arterial roads such as a route running beside the road connecting Hanoi - Hai Phong Expressway with Cau Gie - Ninh Binh Expressway, Tan Phuc - Vong Phan road, and another linking Provincial Road 387 with Hanoi - Hai Phong Expressway.
To fulfill the 2024 socio-economic development plan, Hung Yen is set to promote several focal tasks in the coming time, including improving the investment climate, attracting more foreign direct investment (FDI), and dealing with difficulties facing businesses in a timely manner, especially administrative procedures, to accelerate projects.
Authorities will also work harder to capitalise on revenue sources of the state budget. Particularly, they will assess and analyse factors affecting the budget collection in each locality and sector to make precise revenue predictions, speed up the completion of land handover procedures, and determine land use fees of urban and housing projects to increase revenue for the provincial budget. Efforts will also be made to increase the proportion of domestic sources to improve the sustainability of budget revenue sources.
In addition, comprehensive measures will be enhanced to accelerate the disbursement of public investment in 2024./.
