Quảng Ninh posts fourth fastest growth in Red River Delta

Bình Minh Bridge pning Cửa Lục Bay in Quảng Ninh province. — VNA/VNS Photo

The gross regional domestic product (GRDP) in the northern province of Quảng Ninh expanded at an estimated 9.02% year on year during the first half of 2024, ranking fourth in the Red River Delta and eighth nationwide.

The processing - manufacturing industry is a bright spot in the local economy, with an estimated growth rate of 23.05%, 10.3 percentage points higher than that in the same period of 2023, statistics showed.

Total investment in the business sector has risen 5.6% from a year earlier to surpass VNĐ48 trillion (U$S1.9 billion).

More than $1.5 billion in foreign direct investment (FDI) has been poured into Quảng Ninh between January and June, equivalent to 51% of this year’s target.

Meanwhile, over VNĐ30.77 trillion has been collected for the State budget, representing 55% of the annual target.

As many as 795 businesses have started up, an increase of 12.6% year on year, while 17,400 new jobs been created during the period, local authorities said.

For 2024, the province targets a double-digit GRDP growth rate, at least VNĐ55.6 trillion in State budget collection, a rise of over 10% in total investment in society, and at least $3 billion in FDI attracted.

Quảng Ninh forms one of the three nuclei, aside from Hà Nội and Hải Phòng City, of the northern key economic region.