Vinh Phuc posts decade-high economic growth in first half of 2021

Vinh Phuc (VNA) – The northern province of Vinh Phuc recorded a decade-high economic growth rate in the first six months of this year, despite difficulties caused by the impacts of the COVID-19 pandemic, according to the provincial Statistics Office.

At a press conference at the end of June, the provincial Statistics Office reported that the first-half Gross Regional Domestic Product (GRDP) of Vinh Phuc rose 14.21 percent from the same period last year.

There were also many bright spots in the socio-economic picture of the province, the office said, attributing them to the involvement of the entire political system and the support of the people and the business community.

As of June 28, budget collection in Vinh Phuc totaled 19.25 trillion VND (836 million USD), a surge of 35.18 percent on a yearly basis. Meanwhile, budget spending stood at over 10.47 trillion VND, up 6.26 percent year-on-year.

The flow of foreign direct investment (FDI) capital into the province also saw a strong increase in the 6-month period, with 177.64 million USD poured into 29 projects. Meanwhile, 10 domestic investment projects were licensed, with over 7.5 trillion VND worth of total registered capital.

It is noteworthy that 245 enterprises resumed operation in the reviewed period, up 56.05 percent from the same period last year, while 560 new enterprises were set up.

Regarding employment, 6,880 labourers found job in the six months.

Most production and business activities in urban areas in Vinh Phuc have gradually recovered and even expanded. The provincial administration has created favourable conditions for local enterprises, particularly those in industrial parks, to early stabilize production and continue to create jobs as well as income for local residents.

Vinh Phuc is now home to more than 400 FDI enterprises with total registered capital of over 5.7 billion USD. Those enterprises employ around 100,000 workers and unskilled labourers with average monthly income of 7 – 8 million VND.

The provincial administration has appealed to enterprises in industrial parks to join hand with the local authorities to overcome difficulties amid the COVID-19 pandemic, maintain stable production – business activities and pay attention to workers’ life./.