According to the provincial Party Committee, its gross regional domestic product (GRDP) is expected to reach 11.02% in 2023, 0.74 percentage points higher than the previous year.

The province's economic scale is estimated at over VND 312 trillion (USD 13 billion).

Total state budget revenue hit an estimated VND 55.6 trillion by the year-end, up 3% year-on-year. Of which, domestic revenue is estimated at VND 39.6 trillion, surging 7% over the previous year while revenue from import and export activities will likely top VND 16 trillion.

Ha Long city in Quang Ninh province

At the same time, administrative reform and improvement of the business investment environment continue to be promoted by the province. Quang Ninh is known as a locality with an open and favorable investment environment, wholeheartedly dedicated to businesses and investors.

The province has to date attracted USD 5 billion worth of investment, including USD 3.1 billion in foreign direct investment (FDI), temporarily securing its position as the leading province nationwide in attracting FDI this year.

It has also kept its position among the best performers nationwide in terms of the Provincial Competitiveness Index (PCI), Public Administration Reform (PAR) Index, Satisfaction Index of Public Administration Services (SIPAS), and Provincial Governance and Public Administration Performance Index (PAPI).

Secretary of the provincial Party Committee Nguyen Xuan Ky said improving the quality of development and growth goes hand in hand with maintaining a two-digit Gross Regional Domestic Product (GRDP) growth rate, focusing on increasing the processing and manufacturing industry's scale and contribution to GRDP and budget revenue and improving the efficiency of attracting new generation FDI flows.

Ensuring double-digit growth by 2025

Quang Ninh aims to sustain a double-digit growth rate in the next three years, under a resolution on orientations and tasks by 2025 issued by the provincial Party Committee.

The locality also strives to become a modern service and industrial province, an international tourism hub, a maritime economic center, a center of dynamic and comprehensive development in the northern region, and an important transport gateway of Vietnam by 2025.

To obtain the targets, Quang Ninh will promote the implementation of breakthrough steps to press on with comprehensive reforms to secure sustainable development, green and inclusive growth, and economic development, Secretary of the provincial Party Committee Nguyen Xuan Ky said.

It will also continue using public investments to attract private ones, especially through public - private partnership (PPP), improve the attraction of foreign investment to industrial parks and economic zones, prioritize investments in high-tech and environmentally friendly projects, and strongly facilitate private and startup companies.

Authorities will further step up administrative reforms, improve the investment and business climate, remove barriers, and create favorable conditions for enterprises to grow, he said.

The provincial budget will be focused on ensuring social security, building influential structures, supporting production development, narrowing the development gap among local areas, and fully tapping into potential and advantages to comprehensively develop the local economy, the official added.

In 2022, Quang Ninh posted GRDP growth of 10.3%, ranking fourth in the Red River Delta. It collected VND 54.7 trillion for the state budget, up 4% from 2021.

Source: VNA