Economic breakthrough of Hai Phong in the first six months of 2022

DNHN - According to the Department of Planning and Investment, the city's economic growth in the first six months of 2022 was comparatively strong compared to the national average and other provinces and cities, with GRDP increasing by 11 months. 1% over the same time, placing it seventh in the nation and third in the Red River Delta area, the highest among the five cities directly under the Central Government.

In the first half of 2022, the city has proactively adjusted its epidemic prevention and control measures to respond to treatment, adapt safely, flexibly, and effectively control the COVID-19 epidemic index of industrial production (+11.84 per cent), total retail sales of goods and services (+12.79 per cent), export turnover (+15.33 per cent), port throughput (+7.6 per cent), domestic revenue (+31.9 per cent), and total social investment capital (+2.56 per cent).

Realized social investment capital in the city in the first half of the year was estimated at 75,368.87 billion VND, up 2.56 per cent from the same period, equaling 37.68 per cent of the year plan (200,000 billion VND plan), including state budget investment capital is 6,330.7 billion dongs, accounting for 8.4 per cent of total realized investment capital, up 20.94 per cent from the same period; foreign direct investment capital is 30,558.89 billion dongs, accounting for 8.4 per cent of total realized investment capital

Domestic investment attraction achieved VND 12,710.6 billion, while foreign investment attraction reached USD 1,099.46 million, representing 88.44 per cent and 43.98 per cent of the annual plan, respectively. The number of legitimate foreign-invested projects in the city as of June 28, 2022, is 821, with a total registered investment capital of 23.72 billion US dollars. 

The projected total mobilized capital in the region as of June 30, 2022, is 279,43 trillion VND, an increase of 11.05 per cent over the same time; the estimated total outstanding loans are 170,506 trillion VND, an increase of 28.64 per cent over the same period.

During the first half of the year, new formation registration was given to 1,643 firms with a registered capital of 16,347,6 billion VND, representing an increase of 8.52 per cent in the number of businesses and a decline of 5.34 per cent in the registered capital.

The city's People's Committee has coordinated with the Ministry of Planning and Investment and other relevant ministries and branches to finalize and submit to the Prime Minister for promulgation the decision on investment policy for construction investment and structural business projects infrastructure in the 410.46-hectare Tien Thanh industrial park in the Tien Lang district.

Ceremony of Groundbreaking for the Project of a Complex of Commercial and Entertainment Centers, 5-Star Hotels, and Offices for Rent in Cho Sat region, Phan Boi Chau ward, Hong Bang district, with a total investment of about 6,000 billion.

Regarding investment promotion activities, the city strengthens the exchange of information online and directly with the Ministry, agencies, units, and localities that have cooperation and sisterhood with cities such as Kitakyushu city, Kagawa province - Japan, Incheon city - Korea, Yunnan province - China, Saint Petersburg city - Russia, and Vietnamese representative offices in certain countries in Europe, Asia, and the United States to determine market needs, priority areas.

Specifically, it has collaborated with Kitakyushu city and relevant entities to examine the outcomes of the project's execution to push eco-industrial parks toward CO2 neutrality.

Focusing on the development of supporting industries, infrastructure for digital transformation, innovation, human resource training, and sustainable development, accelerate the creation of a database for investment promotion. Organize the public notification of approved construction plans and facilitate investors' access to planning information while engaging in construction investment.

The industry operates and upgrades municipal portals, external information pages, websites about the EVFTA Agreement, the database of city industrial clusters, and the portals of departments and agencies to provide accurate information and investment assistance for enterprises in several languages.

Supporting firms and investors: maintain promoting investment promotion activities and give investment promotion a high priority on the ground. Boost the execution of investment initiatives by assisting the city's investors.

Large projects are concerned with accelerating the process of implementation and implementation, while small and medium-sized projects are concerned with resolving obstacles. In addition to the proposal to organize a business dialogue conference at the end of the year,

Improving the investment and business environment: The Provincial Competitiveness Index (PCI) in 2021 of Hai Phong city has climbed to the second position out of 63 provinces and cities, up 5 places from 2020, achieving a record high. In 2021, the Departmental, Departmental, Sectoral, and Local Competitiveness Index (DDCI) of the city of Hai Phong will be completed and announced.

The administrative reform index (PAR) in 2021 continues to progress and evolve. Positive, rated #1 out of 63 provinces and cities with 91.80 points for the first time. 

With a score of 93.38 per cent, the index of satisfaction of individuals and organizations with the service of state administrative agencies in 2021 (SIPAS) scored second out of 63 provinces and cities and second out of 11 provinces and cities in the Red River Delta.

At 44,005 points, the Provincial Governance and Public Administration Performance Index 2021 (PAPI) has advanced from the middle group to the top.

Supporting firms in developing a road map for technical innovation; assisting enterprises in enhancing the productivity and quality of key products and key items. Organization: Business Connection for Startups and Innovations Conference; Investment Promotion Conference with Korean and French Businesses. Participated in 23 conferences and seminars promoting investment, commerce, and tourism; access to several markets, including China, Japan, Korea, India, South Africa, the EU, and Mexico...

In the plan for the last six months of the year, Hai Phong encourages the execution of Resolution No. 35/2021/QH15 of the National Assembly dated November 13, 2021, about the piloting of many specialized mechanisms and policies for the development of Hai Phong city.

Implement projects under the socio-economic recovery and development program for 2022 and 2023. Research and suggest processes and policies used in successful free trade zones across the globe, so that they may be implemented in line with Hai Phong's circumstances.

Nguyen Luong- Pham Huong