Production at Toyota Vinh Phuc (Photo: VNA) Vinh Phuc (VNA) – The northern province of VinhPhuc saw good economic growth in the first nine months of this year with highresults in the majority of areas.
The locality recorded a gross regional domestic product(GRDP) growth of 8.63 percent year on year in the reviewed period, with theindustrial sector expanding by 13.01 percent, reported the provincialDepartment of Statistics.
Among major industrial sectors of the province, electronicaccessories production grew 45.55 percent in the period.
Meanwhile, the service sector continued to record stabledevelopment with year on year rise of 6.98 percent, contributing 1.38 percentpoint to the overall growth of Vinh Phuc.
As of September 24, the province’s State budget collectionreached over 24.76 trillion VND (nearly 1.1 billion USD), fulfilling 89.09percent of the plan.
At the same time, the consumer price index (CPI) of VinhPhuc rose 1.32 percent compared to the same time in 2018, the lowest level inthe recent four years.
The rise was attributable to increases in health careservices and education fees, rising prices of gold and US dollars and the impactof the Africa swine fever in pigs.
In September alone, CPI in the province was up 0.35 percentover the previous month, and 1.38 percent over the same time last year. In themonth, three out of 11 goods groups saw an upturn in prices, with the highestrise of 4.06 percent recorded in education fees, followed by food and cateringservices’ prices at 0.8 percent, and other goods and services at 0.04 percent.
Meanwhile, the prices of five out of 11 goods groupsdropped, with the sharpest fall seen in transportation prices at 1.29 percent.Prices of housing and construction materials decreased by 0.66 percent, whilethose of post and telecommunication reduced by 0.3 percent, culture,entertainment and tourism dropped 0.08 percent and equipment and householdappliances fell 0.11 percent.
In the first nine months of 2019, investment activities inVinh Phuc also saw high development.
Total disbursement of social development investment in theprovince in the third quarter of 2019 hit more than 8.76 trillion VND, up 10.48percent over the second quarter and representing a year on year rise of 3.46percent.
In the first nine months of this year, the figure reachednearly 23 trillion VND, a rise of 6.18 percent over the same period last year.
Of the total, capital disbursement for capital constructionwas 14.3 trillion VND, accounting for 62.3 percent of the total.
In the first nine months of this year, Vinh Phuc attracted31 new domestically-invested projects worth 9.78 trillion VND. At the sametime, an additional 879 billion VND was also poured into six underway projects.So far, Vinh Phuc has had 747 valid domestically-invested projects withcombined capital of over 82.3 trillion VND.
With its advantages in location and a healthy investmentenvironment, Vinh Phuc has become a promising destination for domestic andforeign investors. Many foreign businesses, including those from the US,Germany, the Czech Republic and the Netherlands have visited Vinh Phuc to seekinvestment opportunities.
In the first nine months of this year, the provinceattracted 253 million USD in 55 new FDI projects, and 313 million USD to 40underway projects. As of September this year, the province has hosted 373 validFDI projects with total capital of 4.9 billion USD.
As much as 2.63 trillion VND of FDI capital was disbursed inthe third quarter of this year, a rise of 8.51 percent over the second quarterand 5.72 percent over the same period in 2018, pushing the total FDIdisbursement in the first nine months of this year to over 6.54 trillion VND,up 9.08 percent compared to the same period last year./.
VNA
