Investment

Prime Minister Pham Minh Chinh has asked for breakthrough solutions to fulfil the target of 95% in the disbursement rate of public investment capital in 2024.

The northern province of Ninh Binh has built and developed OCOP products through incorporating cultural values in each product, thereby adding more resources for rural economic growth.

The Government Office on July 9 issued an official dispatch on Prime Minister Pham Minh Chinh's directions requiring the acceleration of public investment disbursement for 2024.

There are factors that strongly drive the growth of Vietnam's foreign direct investment (FDI) attraction in the second half of this year and there will be interesting surprises waiting ahead, said Chairman of the Vietnam's Association of Foreign Invested Enterprises (VAFIE) Prof. Dr. Nguyen Mai.

Thanks to the improved quality of tourism services, new tourism products and tour routes, Ninh Binh province's tourism has met the increasing demand of visitors. Therefore, more and more travellers have visited local destinations, making great contributions to revenues of the accommodation, restaurant and travel sectors.

The Ministry of Transport has approved plans to expand the Cao Bo-Mai Son Expressway to six lanes, with construction scheduled to commence in November this year.

Vietnam's economy grew by 6.42% in the first six months of 2024, slightly lower than the figure of 6.58% in the same time of 2022 within the 2020-2024 period, the General Statistics Office (GSO) announced at a press conference in Hanoi on June 29.

The tourism plan for 2021-2030, with a vision towards 2045, was approved by the Prime Minister under Decision No. 509/QD-TTg dated June 13, 2024. The ultimate objective is for tourism to solidify its position as a key economic driver by 2045, elevating Vietnam to a prominent global destination and one of the leading tourism-developed countries in the Asia-Pacific region.

Having defined public capital investment disbursement as an important solution to recover the economy, since the beginning of the year, the Ninh Binh provincial People's Committee has issued numerous directives to speed up the disbursement of public capital investment. However, the outcomes have lagged behind expectations. Therefore, the province needs to make concerted efforts to disburse at least 90% of the allocated capital.

The Military Industry and Telecoms Group (Viettel), FPT Corporation, Vietnam Posts and Telecommunications Group (VNPT) are among the top 10 reputable technology companies of 2024, which were freshly unveiled by the Vietnam Report JSC on June 21.

The European Commission (EC)'s fifth inspection on Vietnam's fight against illegal, unreported and unregulated (IUU) fishing will be the decisive time for Vietnam to have the EC's "yellow card" warning removed, requiring the whole political system to take this as an important task and act with the highest determination, according to a Government Office announcement on Deputy Prime Minister Tran Luu Quang's conclusions at a recent conference.

Chairman of the Ninh Binh provincial People's Committee Pham Quang Ngoc on June 24 paid a field trip to inspect preparations for investment and site clearance for the building of a section of Ninh Binh - Hai Phong expressway.

Over the past years, the northern province of Ninh Binh has paid due attention to spurring scientific and technological research and application into production and daily life, thus helping to increase productivity and effectiveness of production and business for local firms and farmers and improve the competitiveness of the local economy.

Prime Minister Pham Minh Chinh on June 22 inspected the 500kV Circuit-3 Quang Trach-Pho Noi power transmission line project's section crossing the central province of Thanh Hoa.

Under the motto of "The business community and customs are reliable partners and accompany together for mutual development", in the past recent years, Ninh Binh's customs sector has constantly renewed management method, simplified administrative procedures and created favourable conditions for export-import activities, thereby contributing to spurring the province's economic development.

The 500kV circuit-3 power transmission line project from Quang Trach district of Quang Binh province to Pho Noi in Hung Yen province is one of the national key projects in order to ensure the country's energy security.

The Ninh Binh - Hai Phong expressway's section running through Ninh Binh province has a total length of 25.3 kilometers with four lanes and a designed maximum speed of 120 kilometers per hour. It has total investment capital of over 6.97 trillion VND (295 million USD).

Though facing numerous difficulties in the January-May period, key economic sectors of the northern province of Ninh Binh have still maintained stable growth. In particular, the tourism sector recorded great successes.

The disbursement of public investment from the State budget in the first five months of this year was estimated to reach 190.6 trillion VND (7.44 billion USD), equal to 26.6% of the yearly target and 5% higher than the same period last year, according to the General Statistics Office (GSO).